Welcome to our dedicated page for Emerson Electric Co. news (Ticker: EMR), a resource for investors and traders seeking the latest updates and insights on Emerson Electric Co. stock.
Emerson Electric Co. (NYSE: EMR) is a global leader in automation technology and industrial software solutions. With over 135,000 employees and 235 manufacturing locations worldwide, Emerson focuses on providing integrated, innovative solutions that solve some of the world's most complex challenges.
Emerson operates through two main segments: Intelligent Devices and Software Control. The Intelligent Devices segment includes the company's well-known tools business, featuring household brands like Ridgid, and specializes in process manufacturing solutions with products such as measurement and analytical instrumentation, control valves, and actuators.
The Software Control segment encompasses Emerson's majority interest in AspenTech, a leader in industrial software, and the recently acquired Test and Measurement business, previously known as National Instruments. This segment focuses on hybrid, process, and discrete manufacturers, helping optimize operations, protect personnel, and reduce emissions through innovative software and control systems.
Recent achievements highlight Emerson's commitment to sustainability and technological innovation. For instance, Emerson was chosen by DG Fuels to provide comprehensive automation and project engineering for the production of advanced biofuels, aiding global decarbonization efforts in the transportation sector. Additionally, Emerson's collaboration with SungEel HiTech aims to enhance lithium-ion battery recycling processes, contributing to a more stable supply of battery materials for electric vehicles.
Financially, Emerson continues to demonstrate strong performance. The company recently reported robust results for its first and second quarters of fiscal 2024, exceeding expectations in key financial metrics such as underlying sales, operating leverage, and adjusted earnings per share.
Emerson's forward-looking strategy includes significant investments in shareholder returns, with approximately $500 million allocated for share repurchases and $1.2 billion for dividend payments in 2024. The company also introduced DeltaV™ Workflow Management, a next-generation software designed for life sciences companies, further expanding its capabilities in the automation platform.
For more information about Emerson, its innovative solutions, and latest updates, visit Emerson.com.
PETRONAS has signed a Memorandum of Understanding (MoU) with Emerson (NYSE: EMR) to advance digital transformation and decarbonization efforts. This collaboration aims to enhance automation solutions and extract diagnostic data from field instruments. Emerson's Vice President highlighted the synergy in sustainability and digital transformation priorities between the two companies. The agreement aligns with PETRONAS's goal of achieving Net Zero Carbon Emissions by 2050 through innovative and cleaner energy operations.
Emerson (NYSE: EMR) collaborates with Purdue University on an innovative residential energy project called the Nanogrid House. This living lab focuses on transitioning home energy systems from alternating current (AC) to direct current (DC), allowing homeowners to utilize renewable energy sources like solar and wind. The project aims to reduce carbon emissions by 55% and lower energy costs by up to 44%. Emerson's Ovation™ technology automates energy management, showcasing a sustainable model for future energy-efficient homes.
Korea Hydrogen Green Energy Network (KOHYGEN) has partnered with Emerson (NYSE: EMR) to enhance hydrogen refueling infrastructure, marking a significant step in reducing emissions and advancing a net-zero economy. The collaboration follows the completion of the world's largest hydrogen refueling station, designed to efficiently fuel over 100 vehicles daily. Emerson will provide advanced automation technologies essential for creating high-capacity refueling stations across Korea. This initiative aims to establish a stable hydrogen supply chain, expanding services to diverse transportation modes by 2025.
Emerson (NYSE: EMR) has appointed Peter Zornio as its new chief technology officer. Zornio, previously CTO for Emerson’s Automation Solutions business, will focus on driving innovation, technology strategy, and product development across the company. His role will include leading central R&D functions and shaping the overall technology portfolio. Emerson President and CEO Lal Karsanbhai emphasized that Zornio's extensive experience will be crucial for the company's transformation and growth in industrial automation. Zornio will also remain on the board of Emerson Ventures.
Emerson (NYSE: EMR) will share presentation materials from its investor conference on November 29 at 7:15 a.m. CT. A live webcast starts at 8:00 a.m. CT, featuring insights from President and CEO Lal Karsanbhai and senior executives. The webcast will be accessible for 90 days post-event. Emerson, a global technology and software leader, focuses on providing innovative solutions to optimize operations for essential industries, highlighting its automation expertise and majority stake in AspenTech.
Emerson has entered into a five-year framework agreement with Equinor to provide operational support services for the Martin Linge platform in the Norwegian North Sea. The agreement includes options for three additional five-year periods and focuses on maintenance, upgrades, and operational efficiency to reduce energy consumption and emissions. The platform is significant, with expected recoverable resources of approximately 260 million barrels of oil equivalent.
Emerson (NYSE: EMR) is set to conduct an in-person and virtual investor conference on Tuesday, Nov. 29, 2022, in New York City. This event will feature presentations from President and CEO Lal Karsanbhai and other senior executives, starting with a live webcast at 8:00 a.m. Central Time / 9:00 a.m. Eastern Time. Interested attendees can register for the webcast at Emerson's investor resources page, where the webcast will remain available for 90 days.
Emerson (NYSE: EMR) has signed a memorandum of understanding with Origin Materials (NASDAQ: ORGN) to provide advanced automation technologies for Origin's upcoming manufacturing facility, Origin 2, in Geismar, Louisiana. This facility aims to convert 1 million dry metric tons of wood residues annually into carbon-negative materials. Origin's innovative platform targets a market exceeding $1 trillion, focusing on sustainable products like PET plastics.
Expected to be operational by 2025, the Plantweb digital ecosystem will enhance production efficiency and support the transition to low-carbon manufacturing.
Emerson (NYSE: EMR) has finalized the sale of its InSinkErator® division to Whirlpool Corporation (NYSE: WHR) for $3.0 billion. InSinkErator is the largest manufacturer of food waste disposers and instant hot water dispensers globally, founded in 1938 and acquired by Emerson in 1968. The acquisition enables Whirlpool to enhance InSinkErator's legacy and growth potential. Emerson focuses on providing innovative solutions in essential industries, while Whirlpool aims to be the leading global kitchen and laundry company.
Whirlpool Corporation (NYSE: WHR) has completed its acquisition of InSinkErator from Emerson (NYSE: EMR), the leading manufacturer of food waste disposers and instant hot water dispensers. The acquisition aims to enhance Whirlpool's portfolio and is expected to immediately boost margins, contributing approximately $1.25 EPS in fiscal 2023. InSinkErator will function as a separate entity under Whirlpool's North America Region while maintaining its headquarters in Mount Pleasant, Wisconsin. The company anticipates revenue growth through expanded market presence and leveraging InSinkErator's established brand.
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