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.
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
Keywords:Emerson Electric,Earnings Report