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Emerson Electric fiscal Q1 profit climbs 17.7% YOY

Emerson Electric Co. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to 69 cents per share, compared with the S&P Capital IQ consensus estimate of 72 cents per share.

EPS increased 20.0% year over year from 58 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $479.8 million, an increase of 17.7% from $407.5 million in the year-earlier period.

The normalized profit margin rose to 8.6% from 7.3% in the year-earlier period.

Total revenue came to $5.59 billion, compared with $5.61 billion in the year-earlier period, and total operating expenses decreased from the prior-year period to $4.75 billion from $4.87 billion.

Reported net income increased 13.2% from the prior-year period to $521.0 million, or 75 cents per share, from $460.3 million, or 65 cents per share.