In This Story
Emerson Electric Company (EMR-2.71%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $4.2 billion from $4.1 billion in the same quarter the previous year. The increase is attributed to higher sales in the Intelligent Devices and Software and Control segments.
Cost of sales for the quarter was $1,940 million, representing 46.5% of sales, compared to 53.5% in the same quarter of the previous year. This decrease in cost ratio is due to the absence of acquisition-related inventory step-up amortization expenses that impacted the previous year.
The company reported a gross profit of $2,235 million for the quarter, compared to $1,916 million in the previous year, with the increase attributed to favorable pricing and reduced costs.
Selling, general, and administrative expenses decreased to $1,224 million from $1,277 million, reflecting cost reduction actions and the impact of acquisition-related costs incurred in the prior year.
Earnings from continuing operations before income taxes were $775 million, up from $175 million in the previous year. The increase is attributed to higher sales and improved margins.
Net earnings for the quarter were $585 million, up from $142 million in the previous year. After preferred dividends, net earnings attributable to common stockholders were $585 million, compared to $142 million in the previous year.
Cash provided by operating activities was $777 million, while cash used in investing and financing activities was $142 million and $1,291 million, respectively.
Emerson had total assets of $42,610 million as of December 31, 2024. The company maintains a conservative financial structure to support its strategic objectives.
The filing also details the acquisition of Open Grid Systems Limited by AspenTech, a subsidiary of Emerson, and the planned acquisition of the remaining shares of AspenTech not already owned by Emerson.
Emerson does not anticipate any significant changes in its strategic direction and continues to focus on operational efficiency and growth in its core business segments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Emerson Electric Company quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.