Emerson Electric third-quarter profit more than triples, misses estimate

MarketsAssociated Press

Emerson Electric Co. (EMR) on Tuesday reported earnings that more than tripled in its fiscal third quarter, and fell short of analysts' expectations.

The St. Louis-based company said profit increased to $728 million, or $1.03 per share, from $194 million, or 27 cents per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for profit of $1.06 per share.

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The company posted revenue of $6.31 billion compared with $6.34 billion in the same quarter a year earlier, and missed Wall Street estimates. Analysts expected $6.46 billion, according to Zacks.

Emerson Electric shares have declined $6.19, or 8.8 percent, to $63.99 since the beginning of the year, while the Standard & Poor's 500 index has increased 4.9 percent. However, the stock has climbed $2.62, or 4.3 percent, in the last 12 months.

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This story was generated automatically by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Full EMR report: http://www.zacks.com/ap/EMR

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Keywords:Emerson Electric,Earnings Report