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Emerson Electric profit misses consensus by 15.1% in fiscal Q2

Emerson Electric Co. said its normalized net income for the fiscal second quarter ended March 31 was 65 cents per share, compared with the S&P Capital IQ consensus estimate of 76 cents per share.

EPS fell 11.9% year over year from 73 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $441.5 million, a decline of 14.6% from $516.8 million in the prior-year period.

The normalized profit margin declined to 8.4% from 8.9% in the year-earlier period.

Total revenue fell 7.1% on an annual basis to $5.40 billion from $5.81 billion, and total operating expenses fell on an annual basis to $4.67 billion from $4.89 billion.

Reported net income increased 78.9% from the prior-year period to $971.4 million, or $1.42 per share, from $543.0 million, or 77 cents per share.