Emerson Elec Co - EMR STOCK NEWS

Emerson (NYSE: EMR), a global automation and technology leader, has joined the Linux Foundation's Margo initiative, aimed at enhancing edge interoperability in industrial automation. This open-standard project seeks to address challenges in integrating multi-vendor devices, apps, and orchestration environments at the edge. Emerson's participation aligns with its Boundless Automation™ vision for a modern automation architecture.

The Margo initiative will develop open standards, reference implementations, and testing toolkits to simplify the deployment and operation of complex, multi-vendor industrial edge environments. This collaboration is expected to accelerate digital transformation programs and realize the full potential of AI, machine learning, and analytics at the edge for manufacturers of all sizes.

Emerson (NYSE: EMR) has made a strategic investment through its corporate venture capital arm, Emerson Ventures, in Symmera, an early-stage company focused on simplifying device authentication and data protection. Boulder Ventures is co-investing in this venture. Symmera's Distributed Intelligent Network (DIN) Orchestration Platform offers a scalable, secure, and vendor-agnostic solution for device fleet management, built on a zero-trust architecture.

The platform aims to address the increasing complexity and cost of managing device lifecycles and security while enabling trusted data streams for AI, machine learning, and advanced analytics. Symmera's technology aligns with Emerson's initiatives in lifecycle management of devices and secure field communications, offering a unique 'one-pane-of-glass' approach for fleet management security.

Emerson (NYSE: EMR) has announced the completion of the sale of its remaining 40% common equity ownership stake in the Copeland joint venture to private equity funds managed by Blackstone. This transaction marks Emerson's full exit from the Copeland business, which is now positioned as a standalone company focused on serving the global HVAC and refrigeration market.

Copeland's product portfolio includes market-leading compressors, controls, thermostats, valves, software, and monitoring solutions for residential, commercial, and industrial customers. This divestiture aligns with Emerson's strategy to streamline its operations and focus on core business areas.

Emerson (NYSE: EMR) reported strong Q3 2024 results, with net sales up 11% to $4,380 million and underlying sales growth of 3%. The company's adjusted earnings per share increased 11% to $1.43, while operating cash flow rose 27% to $1,067 million. Emerson updated its fiscal 2024 outlook, projecting net sales growth of ~15% and adjusted EPS of $5.45 - $5.50.

The company also announced progress on its portfolio simplification, including a definitive agreement to exit the Copeland business. Emerson completed the sale of the Copeland Note Receivable for $1.9 billion and expects to close the sale of its 40% equity stake for $1.5 billion by August end. The total after-tax proceeds of $2.9 billion will be used to pay down debt.

Emerson (NYSE: EMR) has unveiled its Ovation™ 4.0 Automation Platform with integrated generative artificial intelligence (GenAI) for the power and water industries. This transformative technology aims to enhance data-driven decision-making, improve operational efficiencies, and drive more predictive and reliable performance. The platform will augment workforce expertise, provide predictive guidance, and recommend appropriate actions to increase reliability and optimize operations.

Key features of the Ovation 4.0 Automation Platform include:

• AI assistants for workforce empowerment
• Support for remote operations
• Predictive maintenance capabilities
• Grid optimization
• Enhanced cybersecurity

Initially released on Microsoft Azure's OpenAI service, Emerson's Ovation GenAI will also be available on other large language models, focusing on secure and proprietary data sets.

Emerson (NYSE: EMR) has announced the release of Ovation 4.0 Automation Platform, an updated version of its industry-leading automation solution for the power and water industries. This new software-defined architecture aims to help utilities better leverage data, new technologies, and artificial intelligence (AI) to meet the increasing demand for reliable, affordable, and sustainable power and water.

Key features of Ovation 4.0 include:

• Advanced automation, simulation, and AI capabilities
• Grid edge ecosystem for managing distributed energy resources (DERs)
• Integration with Ovation Green renewable supervisory control and data acquisition software
• Generative AI models for prescriptive guidance on operational and maintenance practices
• Digital twin technology with AI models for data-driven decision-making

The platform is designed to modernize power and water operations, enabling utilities to keep pace with rapidly changing markets and work smarter, better, and faster.

Emerson (NYSE: EMR) has announced its schedule for reporting third quarter 2024 earnings. The company will release its results before the market opens on Wednesday, August 7, 2024. Following the release, Emerson's senior management will host an investor conference call at 9 a.m. Eastern Time (8 a.m. Central Time) to discuss the results.

Interested parties can access the live conference call and view presentation slides by registering through the Investors section of Emerson's website at www.Emerson.com/investors. The presentation slides will be made available prior to the call. Additionally, a replay of the conference call will be accessible for three months following the webcast at the same location on Emerson's website.

Tata Elxsi and Emerson have launched the Tata Elxsi + NI Mobility Innovation Centre (TENMIC) in Bengaluru. This center is set to accelerate automotive innovation through advanced systems, software solutions, and expertise. The launch event, held on July 11, 2024, featured senior leaders from global OEMs, automotive suppliers, and semiconductor companies, highlighting the importance of this collaboration.

The facility aims to support the development, validation, and release of new automotive features through a combination of virtual and physical testing, emphasizing automation, data analytics, and AI methodologies. The partnership targets advancements in software-defined vehicles (SDVs), autonomous driving, and electric vehicle (EV) systems.

Both Tata Elxsi and Emerson aim to leverage their combined expertise to drive innovation and create significant value for clients, positioning Bengaluru as a global hub for next-generation automotive development.

Emerson has released its 2023 Sustainability Report, emphasizing its commitment to net-zero operations and investments in employees and communities. The report highlights a 52% reduction in Scope 1 and 2 greenhouse gas emissions intensity since 2021, and that 49% of the electricity used by Emerson locations now comes from renewable sources.

The company surpassed its energy intensity reduction target, achieving a 41% reduction since 2018. Emerson was named the 2023 ENERGY STAR® Partner of the Year and maintained an A- score from the Carbon Disclosure Project (CDP).

Additionally, Emerson increased leadership representation for women globally and US minorities. The company was also named one of Forbes' 2023 World's Top Employers for Women.