February 05, 2025 16:39 GMT
CAPITAL GOODS: Emerson Electric (EMR A2/A/NR): 1Q25 Results
CAPITAL GOODS
Credit neutral.
- Emerson revenue was reported 1% below consensus.
- Adj. EBITDA was also 1% shy.
- FCF came in ahead at $690mn, with $500mn expected. We see adj. net leverage little changed around 1.2x.
- FY25 revenue guidance was revised down by 2ppts to 1.5-3.5%. Consensus had 3.7%. FCF guidance was unchanged.
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