Emerson Electric Company (NYSE:EMR)

“Global markets continue to recover, at a slower pace than previous economic cycles, but in-line with our expectations. We expect this slow, but steady, recovery to continue for the next several years. We do not expect a double-dip recession in our end markets. This will be an environment where well-managed, global industrial companies can operate quite efficiently,” said Chairman, CEO and President David N. Farr. “Our solid third quarter results prove the actions we’re taking to strengthen Emerson’s performance and accelerate growth in key markets around the world continue to be the right ones. We delivered substantial improvements in sales, profits and margins during the quarter and have positive momentum globally as we finish out our fiscal year.”

2010 Outlook 

Based on improving business conditions and continued strength in order trends, Emerson now expects full year earnings per share in the range of $2.60 to $2.70. This does not include any impact from the recently announced offer to purchase Chloride Group PLC or any potential divestitures of LANDesk or our North American motors and controls businesses. For the year, underlying sales are expected to be approximately flat. Emerson estimates a 3 percent favorable impact from already completed acquisitions and a 2 percent favorable impact from currency translation, resulting in net sales that are up approximately 4 to 5 percent. Operating profit margin and pretax margin are expected to be in the range of 16.2 to 16.5 percent and 13.3 to 13.7 percent, respectively.