HighGravityData

Emerson Electric — Nov 5, 2024 release

Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000950103-24-015969
Open on SEC.gov ↗
Showing in the filing
Capital expenditures
“~(0.4)”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 22
Quarterly cash dividend increase for FY2024
“$0.5275 per share”
Quarterly Cash Dividend
“$0.5275 per share of common stock payable December 10, 2024”
Dividend payments assumption for FY2025
“approximately $1.2 billion”
Net Sales Growth for Q1 FY2025
“2.5% - 3.5%”
Net Sales Growth for FY2025
“3.5% - 5.5%”
Underlying Sales Growth for Q1 FY2025
“2% - 3%”
Underlying Sales Growth for FY2025
“3% - 5%”
Earnings Per Share for Q1 FY2025
“$0.89 - $0.94”
Earnings Per Share for FY2025
“$4.42 - $4.62”
Amortization of Intangibles for Q1 FY2025
“~$0.31”
Amortization of Intangibles for FY2025
“~$1.23”
Acquisition / Divestiture Fees and Related C… for FY2025
“~$0.04”
Restructuring / Related Costs for Q1 FY2025
“~$0.04”
Restructuring / Related Costs for FY2025
“~$0.16”
Acquisition / Divestiture Fees and Related C… for Q1 FY2025
“~$0.01”
Adjusted Earnings Per Share for Q1 FY2025
“$1.25 - $1.30”
Adjusted Earnings Per Share for FY2025
“$5.85 - $6.05”
Operating cash flow for FY2025
“$3.6B - $3.7B”
Free cash flow for FY2025
“$3.2B - $3.3B”
Share Repurchase for Q1 FY2025
“~$1.0B”
Share Repurchase for FY2025
“~$2.0B”
Capital expenditures for FY2025
“~(0.4)”
Exhibit 99.1 · the passage around this item
… earlier in the release
    Q4 FY24 Underlying Sales Change   Reported   (Favorable) / Unfavorable FX   (Acquisitions) /  Divestitures    Underlying Final Control     8 %     (1 )%     — %     7 % Measurement & Analytical     7 %     — %     — %     7 % Discrete Automation     (3 )%     (1 )%     — %     (4 )% Safety & Productivity     (1 )%     — %     — %     (1 )% Intelligent Devices     4 %     — %             4 % Control Systems & Software     9 %     — %     — %     9 % Test & Measurement                                 AspenTech     (13 )%     — %     — %     (13 )% Software and Control     41 %     — %     (38 )%     3 % Emerson     13 %     — %     (9 )%     4 %     Year Ended Sept 30, 2024 Underlying Sales Change   Reported   (Favorable) / Unfavorable FX   (Acquisitions) /  Divestitures    Underlying Final Control     6 %     — %     — %     6 % Measurement & Analytical     13 %     — %     1 %     14 % Discrete Automation     (5 )%     — %     — %     (5 )% Safety & Productivity     — %     — %     — %     — % Intelligent Devices     5 %     — %     — %     5 % Control Systems & Software     9 %     — %     1 %     10 % Test & Measurement                                 AspenTech     5 %     — %     — %     5 % Software and Control     48 %     — %     (40 )%     8 % Emerson     15 %     — %     (9 )%     6 %     Underlying Growth Guidance     2025 Q1  Guidance        2025  Guidance      Reported (GAAP)     2.5% - 3.5%       3.5% - 5.5%     (Favorable) / Unfavorable FX     ~(0.5) pts       ~(0.5) pts     (Acquisitions) / Divestitures     -       -     Underlying (non-GAAP)     2% - 3%       3% - 5%       Page 20 2023 Q4 Adjusted Segment EBITA   EBIT   EBIT   Margin    Amortization  of   Intangibles    Restructuring and Related Costs   Adjusted Segment EBITA   Adjusted Segment EBITA Margin Final Control   $ 247       22.9 %   $ 22     $ 16     $ 285       26.4 % Measurement & Analytical     275       26.3 %     12       11       298       28.4 % Discrete Automation     131       19.7 %     7       7       145       21.8 % Safety & Productivity     78       21.9 %     6       (1 )     83       23.5 % Intelligent Devices   $ 731       23.2 %   $ 47     $ 33     $ 811       25.8 % Control Systems & Software     151       21.1 %     5       2       158       22.2 % Test & Measurement                                                 AspenTech     (47 )     (18.7 )%     122       1       76       30.2 % Software and Control   $ 104       10.8 %   $ 127     $ 3     $ 234       24.3 %     2024 Q4 Adjusted Segment EBITA   EBIT   EBIT   Margin    Amortization of  Intangibles   Restructuring and Related Costs   Adjusted Segment EBITA   Adjusted Segment EBITA Margin Final Control   $ 271       23.2 %   $ 22     $ 12     $ 305       26.1 % Measurement & Analytical     295       26.4 %     12       19       326       29.2 % Discrete Automation     144       22.3 %     8       2       154       23.9 % Safety & Productivity     78       22.2 %     7       5       90       25.4 % Intelligent Devices   $ 788       24.0 %   $ 49     $ 38     $ 875       26.6 % Control Systems & Software     177       22.7 %     4       7       188       24.3 % Test & Measurement     (45 )     (12.4 )%     141       —       96       26.7 % AspenTech     (79 )     (36.7 )%     122       8       51       23.2 % Software and Control   $ 53       3.9 %   $ 267     $ 15     $ 335       24.7 %     Total Adjusted Segment EBITA   2023 Q4   2024 Q4   Pretax earnings (GAAP)   $ 1,020     $ 679     Margin     24.9 %     14.7 %   Corporate items and interest expense, net     (185 )     162     Amortization of intangibles     174       316     Restructuring and related costs     36       53     Adjusted segment EBITA (non-GAAP)   $ 1,045     $ 1,210     Margin     25.5 %     26.2 %     Page 21 2023 Adjusted Segment EBITA   EBIT   EBIT   Margin    Amortization  of   Intangibles    Restructuring and Related Costs   Adjusted Segment EBITA   Adjusted Segment EBITA Margin Final Control   $ 865       21.8 %   $ 88     $ 28     $ 981       24.7 % Measurement & Analytical     936       26.0 %     27       13       976       27.1 % Discrete Automation     509       19.3 %     29       27       565       21.4 % Safety & Productivity     306       22.0 %     26       —       332       23.9 % Intelligent Devices   $ 2,616       22.6 %   $ 170     $ 68     $ 2,854       24.6 % Control Systems & Software     529       20.3 %     22       9       560       21.5 % Test & Measurement                                                 AspenTech     (107 )     (10.3 )%     486       1       380       36.4 % Software and Control   $ 422       11.6 %   $ 508     $ 10     $ 940       25.8 %     2024 Adjusted Segment EBITA   EBIT   EBIT  Margin    Amortization of  Intangibles   Restructuring and Related Costs   Adjusted Segment EBITA   Adjusted Segment EBITA Margin Final Control   $ 977       23.2 %   $ 87     $ 17     $ 1,081       25.7 % Measurement & Analytical     1,056       26.0 %     55       26       1,137       28.0 % Discrete Automation     466       18.6 %     34       35       535       21.3 % Safety & Productivity     308       22.2 %     26       7       341       24.5 % Intelligent Devices   $ 2,807       23.1 %   $ 202     $ 85     $ 3,094       25.4 % Control Systems & Software     645       22.7 %     26       15       686       24.1 % Test & Measurement     (290 )     (19.8 )%     560       81       351       24.0 % AspenTech     (73 )     (6.7 )%     486       8       421       38.5 % Software and Control   $ 282       5.2 %   $ 1,072     $ 104     $ 1,458       27.0 %     Total Adjusted Segment EBITA   2023   2024   Pretax earnings (GAAP)   $ 2,903     $ 2,020     Margin     19.1 %     11.5 %   Corporate items and interest expense, net     135       1,069     Amortization of intangibles     678       1,274     Restructuring and related costs     78       189     Adjusted segment EBITA (non-GAAP)   $ 3,794     $ 4,552     Margin     25.0 %     26.0 %       Free Cash Flow   2023 Q4   2024 Q4   Operating cash flow (GAAP)   $ 991     $ 1,073     Capital expenditures     (169 )     (168 )   Free cash flow (non-GAAP)   $ 822     $ 905         Free Cash Flow   FY23   FY24       2025E  ($ in billions)  Operating cash flow (GAAP)   $ 2,710     $ 3,317          $3.6 - $3.7 Capital expenditures     (363 )     (419 )       ~(0.4) Free cash flow (non-GAAP)   $ 2,347     $ 2,898         $3.2 - $3.3 Note 1: Underlying sales and orders exclude the impact of currency translation and significant acquisitions and divestitures. Note 2: All fiscal year 2025E figures are approximate, except where range is given.
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.