NYSE$EMR
Emerson Electric Co · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Third quarter results reported with updated full-year guidance reflecting dynamic demand environment and stronger cost savings.
Emerson reported a decrease in GAAP net sales by 16 percent to $3.9 billion, with underlying sales down 15 percent due to COVID-19 impacts. GAAP EPS was $0.67, a 31 percent decrease, while adjusted EPS was $0.80, exceeding management guidance due to cost reduction actions and a lower effective tax rate. The company delivered strong operating and free cash flow, initiated restructuring actions, and updated its full-year guidance as cost savings take effect and demand begins to stabilize.
- GAAP net sales decreased by 16 percent, with underlying sales down 15 percent due to COVID-19 impacts.
- GAAP EPS was $0.67, down 31 percent, while adjusted EPS was $0.80, exceeding guidance.
- Operating cash flow was $842 million, and free cash flow was $738 million for the quarter.
- Full-year guidance was updated to reflect cost savings and stabilizing demand.
Headline financials
Revenue & EPS history
Emerson · Revenue · Quarterly
$3.91B
Revenue by segment
Emerson · $3.15B total across 1 segment · Q4 2023
- Intelligent Devices$3.15B—100.0%
Forward guidance
Emerson updated the full year 2020 outlook to reflect the dynamic demand environment associated with global economic reopening and the stronger cost savings impacts.
Tailwinds
- Guidance assumes a continued challenging but steadily improving demand environment in the fourth quarter
- Expect revenue to return to growth in either the second or third quarter of 2021
- The updated guidance also assumes no major operational or supply chain disruptions
- Guidance assumes no changes in discrete tax items
- Guidance assumes oil prices remain in the approximately $35 to $45 range
Headwinds
- Scope, duration and ultimate impact of the COVID-19 pandemic
- Economic and currency conditions
- Market demand, including related to the pandemic and oil and gas price declines and volatility
- Pricing
- Competitive and technological factors
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
-0.3%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+1.5%
Avg return
30 days after
40%
29 / 73 earnings
Positive
+15.5%
Q4 2024
Best reaction
-7.6%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +6.8% | +4.3% | +2.5% | |
| Q1 2026 | -1.0% | +5.2% | -9.0% | |
| Q4 2025 | -3.9% | +2.1% | +3.8% | |
| Q3 2025 | -0.8% | -0.7% | -1.0% | |
| Q2 2025 | +2.4% | +11.3% | +15.1% | |
| Q1 2025 | -2.3% | -0.7% | -7.1% | |
| Q4 2024 | +15.5% | +15.9% | +21.3% | |
| Q3 2024 | -2.9% | -4.4% | -8.9% | |
| Q2 2024 | +7.6% | +6.9% | +0.5% | |
| Q1 2024 | +8.6% | +10.6% | +16.9% | |
| Q4 2023 | -7.6% | -5.7% | -3.3% | |
| Q3 2023 | +4.6% | +6.1% | +8.0% | |
| Q2 2023 | +0.6% | +1.9% | +0.7% | |
| Q1 2023 | -6.6% | -4.7% | -9.9% | |
| Q4 2022 | -1.8% | +2.8% | +2.3% | |
| Q3 2022 | -2.8% | -0.9% | -7.1% | |
| Q2 2022 | -1.4% | -6.7% | -0.2% | |
| Q1 2022 | +4.4% | +3.5% | -1.0% | |
| Q4 2021 | -3.0% | -2.4% | -9.9% | |
| Q3 2021 | -0.1% | +0.0% | +4.2% | |
| Q2 2021 | +2.9% | +4.7% | +7.8% | |
| Q1 2021 | +3.5% | +6.5% | +9.5% | |
| Q4 2020 | +0.3% | +3.2% | +11.1% | |
| Q3 2020 | +3.1% | +5.7% | +9.5% | |
| Q2 2020 | +2.3% | +5.7% | +10.5% | |
| Q1 2020 | +4.7% | +1.6% | -10.8% | |
| Q4 2019 | +0.5% | +0.9% | +1.0% | |
| Q3 2019 | +0.2% | +0.1% | +4.0% | |
| Q2 2019 | -5.5% | -4.6% | -10.7% | |
| Q1 2019 | -0.9% | -1.3% | -0.5% | |
| Q4 2018 | -0.7% | -2.6% | -9.3% | |
| Q3 2018 | +3.4% | +3.1% | +6.4% | |
| Q2 2018 | +1.8% | +3.0% | +6.7% | |
| Q1 2018 | +0.8% | +0.9% | +2.6% | |
| Q4 2017 | -3.1% | -4.5% | +2.0% | |
| Q3 2017 | +2.3% | +2.6% | -1.0% | |
| Q2 2017 | -1.8% | -2.4% | -1.9% | |
| Q1 2017 | +4.3% | +5.7% | -1.0% | |
| Q4 2016 | -1.3% | -2.5% | +12.0% | |
| Q3 2016 | -5.1% | -3.8% | -5.8% | |
| Q2 2016 | -4.4% | — | — | |
| Q1 2016 | +1.3% | — | — | |
| Q4 2015 | +2.8% | — | — | |
| Q3 2015 | -2.8% | — | — | |
| Q2 2015 | -2.1% | — | — | |
| Q1 2015 | -2.8% | — | — | |
| Q4 2014 | -0.2% | — | — | |
| Q3 2014 | -3.3% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | -0.8% | — | — | |
| Q4 2013 | +0.1% | — | — | |
| Q3 2013 | -1.1% | — | — | |
| Q2 2013 | -0.2% | — | — | |
| Q1 2013 | -0.1% | — | — | |
| Q4 2012 | -0.4% | — | — | |
| Q3 2012 | +2.1% | — | — | |
| Q2 2012 | -5.8% | — | — | |
| Q1 2012 | -2.5% | — | — | |
| Q4 2011 | -3.8% | — | — | |
| Q3 2011 | -6.3% | — | — | |
| Q2 2011 | -3.3% | — | — | |
| Q1 2011 | -0.2% | — | — | |
| Q4 2010 | +1.0% | — | — | |
| Q3 2010 | -0.6% | — | — | |
| Q2 2010 | -3.5% | — | — | |
| Q1 2009 | -3.2% | — | — | |
| Q1 2010 | +0.0% | — | — | |
| Q4 2009 | +1.4% | — | — | |
| Q2 2009 | +1.4% | — | — | |
| Q3 2009 | -3.8% | — | — | |
| Q3 2008 | -3.8% | — | — | |
| Q4 2007 | -3.8% | — | — | |
| Q4 2008 | -3.8% | — | — |
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