Emerson Elec Co - EMR STOCK NEWS

Emerson’s annual Global Users Exchange virtual conference showcases innovations aiding industrial manufacturers in 2021. The event focuses on digital transformation through case studies, offering insights on sustainability and enhanced operational efficiency. Participants can access 300+ sessions covering various themes like remote collaboration and personnel safety. Keynotes from industry leaders highlight improvements in energy management. The conference includes live and on-demand sessions and will return to in-person format later this year in Washington, D.C.

Emerson (NYSE: EMR) has been chosen by the Tennessee Valley Authority (TVA) to modernize its Magnolia power plant as part of TVA's $110 million investment plan to enhance digital technologies across its power generation fleet. This initiative aims to improve operations, cybersecurity, and training at the 980-megawatt facility, which generates cleaner energy. The project highlights Emerson's leadership in the power generation industry and is expected to be completed in 2022, ensuring reliable electricity for millions in the Tennessee Valley region.

Emerson (NYSE: EMR) has successfully acquired 7AC Technologies, a start-up specializing in innovative air conditioning solutions that promote energy efficiency and sustainable air management. This technology enables commercial building owners and retailers to manage humidity and temperature seamlessly. The membrane-based liquid desiccant system is modular and adaptable to different applications. Emerson's executive president highlighted its superior energy efficiency and air quality compared to existing products. This acquisition strengthens Emerson's position in the high-growth commercial air management market.

The board of directors of Emerson (NYSE: EMR) has declared a quarterly cash dividend of $0.505 per share. This dividend will be payable on December 10, 2020 to stockholders on record as of November 13, 2020. Emerson, a leading global technology and engineering company based in St. Louis, Missouri, offers innovative solutions across various markets, including industrial and residential sectors. The company focuses on optimizing production, ensuring safety, and enhancing energy efficiency.

Emerson (NYSE: EMR) reported a decline in fourth-quarter net sales of 8%, with underlying sales down 9%. The company faced demand challenges, particularly in North America. Commercial & Residential Solutions saw a 6% growth in orders, while Automation Solutions struggled, reporting an 11% decrease in net sales. The quarterly gross profit margin fell to 41.3%. Despite these challenges, the company maintained strong operating cash flow of $1.23 billion. Looking ahead, Emerson expects 2021 revenue growth between 1%-4% and plans to resume share repurchases between $500 million and $1 billion.

Emerson (NYSE: EMR) has secured a $14 million contract for automation technologies at the new Azeri Central East offshore platform in the Caspian Sea. Acting as the main automation contractor, Emerson will implement its Project Certainty methodologies and digital solutions to enhance project execution, which is expected to assist BP in fast-tracking the project for 2023. Key offerings include digital twin solutions and cloud engineering services that aim to reduce costs and accelerate engineering timelines. The project builds on prior successful collaborations between BP and Emerson.

Emerson (NYSE: EMR) is set to report its fourth quarter and full-year results on November 3, 2020, before the market opens. Following the announcement, senior management will conduct an investor conference call at 2:00 p.m. Eastern Time. Interested parties can access the call and related presentation materials through Emerson's Investor Relations webpage. A replay will be available for three months post-call.

Emerson has elected W.H. (Bill) Easter III to its board of directors, as announced by CEO David N. Farr. Easter, formerly the chairman and CEO of DCP Midstream LLC, brings significant experience in the energy sector, having overseen substantial growth during his tenure. He also has a long history with ConocoPhillips and currently serves on the boards of Delta Airlines and Grupo Aeroméxico. At Emerson, he will be involved in the Compensation and Finance Committees, adding valuable perspectives aimed at enhancing shareholder value.