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Sep 30, 2023
Emerson Q4 2023 Earnings Report
Emerson reported Q4 2023 results with increased net sales and EPS.
Key Takeaways
Emerson reported strong Q4 2023 results, marked by a 5% increase in net sales and a significant rise in GAAP earnings per share. The acquisition of NI was completed during the quarter, contributing to the company's transformation into an automation leader. The company is confident about fiscal year 2024.
Emerson completed an exceptional fiscal 2023 with double-digit sales growth.
The company achieved strong operating leverage and robust adjusted earnings per share growth.
Emerson closed the acquisition of NI, largely completing its transformation into an automation leader.
Guidance for fiscal 2024 reflects confidence in execution, leading technology, and resilient end-markets.
Revenue by Segment
Forward Guidance
Emerson provided its fiscal year 2024 guidance, incorporating the NI acquisition completed on October 11, 2023. The guidance assumes approximately $500 million returned to shareholders through share repurchases and approximately $1.2 billion of dividend payments.
Positive Outlook
- Net Sales Growth: 14% - 17.5%
- Underlying Sales Growth: 6.5% - 8.5%
- Earnings Per Share: $3.82 - $4.02
- Adjusted Earnings Per Share: $5.15 - $5.35
- Operating Cash Flow: $3.0B - $3.1B
Challenges Ahead
- Amortization of Intangibles: ~$0.67
- Restructuring / Related Costs: ~$0.22
- Acquisition / Divestiture Fees and Related Costs: ~$0.22
- Copeland Equity Loss: ~$0.22
- The 2024 outlook incorporates, other than as set forth below, our NI acquisition
Historical Earnings Impact
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Avg. Return Before/After Earnings
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