Emerson Elec Co Stock Price, News & Analysis

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.

Emerson (NYSE: EMR) announced the sale of its remaining 40% interest in the Copeland joint venture to Blackstone for approximately $3.5 billion. The transaction includes $3.4 billion in pre-tax cash proceeds, net of $0.1 billion in future indemnity obligations. This move aims to simplify Emerson's portfolio and boost its focus on automation markets. The deal, unanimously approved by Emerson's Board of Directors, is expected to close in the second half of 2024, subject to regulatory approvals. Emerson plans to use the $2.9 billion after-tax proceeds to pay down debt. The transaction will result in a net pre-tax gain of about $0.2 billion.

Emerson announced the election of Calvin Butler, CEO of Exelon, to its Board of Directors, effective August 1, 2024. Butler brings significant operational and leadership experience in the energy industry. The Emerson Board will expand to 12 members, and Butler will serve on the Corporate Governance and Nominating Committee. This move is part of Emerson's ongoing refreshment process to capitalize on energy market opportunities.

Emerson reported strong second quarter 2024 results with sales growth, margin expansion, and earnings exceeding expectations. The company updated its full-year outlook for fiscal 2024 and declared a quarterly cash dividend of $0.525 per share of common stock. Management highlighted the strength of their portfolio and the Emerson Management System, expressing confidence in delivering value to shareholders.

Emerson's Test and Measurement business, formerly NI, will host the NI Connect event in Austin, Texas, showcasing innovative NI test and measurement technologies. Key industry leaders will discuss the strategic use of NI technologies in driving innovation and improving business performance. The event will include live demonstrations, educational sessions, and technical workshops to address industry challenges like software complexity and power consumption.