Emerson Electric Co. said its normalized net income for the fiscal third quarter ended June 30 amounted to 76 cents per share, compared with the S&P Capital IQ consensus estimate of 83 cents per share.
EPS declined 19.6% year over year from 95 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $510.0 million, a decrease of 23.5% from $666.9 million in the year-earlier period.
The normalized profit margin declined to 9.3% from 10.6% in the year-earlier period.
Total revenue declined 12.8% year over year to $5.50 billion from $6.31 billion, and total operating expenses decreased 10.8% from the prior-year period to $4.63 billion from $5.19 billion.
Reported net income fell 22.4% from the prior-year period to $561.9 million, or 84 cents per share, from $724.4 million, or $1.03 per share.