Emerson Reports Fourth Quarter and Full Year 2026 Results; Provides Initial 2027 Outlook

PR Newswire

ST. LOUIS, Nov. 4, 2026

ST. LOUIS , Nov. 4, 2026 /PRNewswire/ -- Emerson (NYSE: EMR) today reported results 1  for its fourth quarter and fiscal year ended September 30, 2026. Emerson also declared a 7% quarterly cash dividend increase to $0.595 per share of common stock payable December 10, 2026 to stockholders of record November 13, 2026.

Emerson
(dollars in millions, except per share)
2025 Q4
2026 Q4
Change
2025
2026
Change
Underlying Orders 2
14 %
9 %
Net Sales
$4,855
$5,201
7 %
$18,016
$18,982
5 %
Underlying Sales 3
7 %
4 %
Pretax Earnings
$760
$997
$2,905
$3,489
Margin
15.6 %
19.2 %
360 bps
16.1 %
18.4 %
230 bps
Adjusted Segment EBITA 4
$1,333
$1,511
$4,975
$5,360
Margin
27.5 %
29.1 %
160 bps
27.6 %
28.2 %
60 bps
GAAP Earnings Per Share
$1.07
$1.33
24 %
$3.99
$4.79
20 %
Adjusted Earnings Per Share 5
$1.62
$1.86
15 %
$6.01
$6.59
10 %
Operating Cash Flow
$1,011
$1,075
6 %
$3,676
$3,978
8 %
Free Cash Flow
$843
$916
9 %
$3,245
$3,535
9 %

Management Commentary

"Emerson capped a strong 2026 with fourth quarter sales and profitability exceeding expectations," said Emerson President and Chief Executive Officer Lal Karsanbhai. "Underlying orders were up 14%, supported by exceptional long-cycle project activity in our growth verticals. Demand was broad-based, with substantial growth across all business groups and regions."

Karsanbhai continued, "Emerson has a resilient portfolio with an unparalleled software-defined technology stack aligned with long-term secular trends. We have confidence in our 2027 plans given our robust backlog and favorable demand trends in our growth verticals."

2027 Outlook

The following tables summarize the fiscal year 2027 guidance framework, which assumes returning ~$3.8B through ~$2.5B of share repurchases and ~$1.3B of dividends.

Guidance figures are approximate.
2027 Q1
2027
Net Sales Growth
~5%
~5%
Underlying Sales Growth
~5%
~5%
Earnings Per Share
$1.19 - $1.23
~$5.70
Amortization of intangibles
~$0.35
~$1.41
Restructuring and related costs
~$0.04
~$0.14
Adjusted Earnings Per Share
$1.58 - $1.62
~$7.25
Operating Cash Flow
$4.3B - $4.4B
Free Cash Flow
$3.8B - $3.9B
Share Repurchase
~$1.5B
~$2.5B
1
Results are presented on a continuing operations basis.
2
Underlying orders do not include AspenTech.
3
Underlying sales exclude the impact of currency translation, and significant acquisitions and divestitures.
4
Adjusted segment EBITA represents segment earnings excluding restructuring and related costs and intangibles amortization expense.
5
Adjusted EPS excludes intangibles amortization expense, restructuring and related costs, first year purchase accounting related items and transaction-related costs, the mark-to-market adjustment on pension and other postretirement plans, discrete taxes, and certain gains, losses or impairments.

Conference Call

Today, beginning at 7:30 a.m. Central Time / 8:30 a.m. Eastern Time, Emerson management will discuss the fourth quarter and fiscal year 2026 results during an investor conference call. Participants can access a live webcast available at https://ir.emerson.com at the time of the call.  A replay of the call will be available for 90 days. Conference call slides will be posted in advance of the call on the company website.

About Emerson

Emerson (NYSE: EMR) is a global automation leader delivering solutions for the most demanding technology challenges. Headquartered in St. Louis, Missouri, Emerson is engineering the autonomous future, enabling customers to optimize operations and accelerate innovation. For more information, visit Emerson.com.

Forward-Looking and Cautionary Statements

Statements in this press release that are not strictly historical may be "forward-looking" statements, which represent management's expectations, based on currently available information. Actual results, performance or achievements could differ materially from those expressed in any forward-looking statement. Any forward-looking statements in this press release speak only as of the date of this press release. Emerson undertakes no obligation to update any such statements to reflect new information or later developments. Examples of risks and uncertainties that may cause our actual results or performance to be materially different from those expressed or implied by forward looking statements include the scope, duration and ultimate impacts of the Russia-Ukraine, Middle East and other global conflicts, as well as economic and currency conditions, market demand, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, inflation, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. The outlook contained herein represents the Company's expectation for its consolidated results, other than as noted herein.

Emerson uses our Investor Relations website, https://ir.emerson.com , as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts and social media. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Contacts

Investors:
Media:
Carl Schumacher
Joseph Sala / Greg Klassen / Connor Murphy
(314) 553-2197
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

(tables attached)

Table 1
EMERSON AND SUBSIDIARIES
CONSOLIDATED OPERATING RESULTS
(AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)
Quarter Ended
September 30,
Year Ended September
30,
2025
2026
2025
2026
Net sales
$     4,855
$     5,201
$   18,016
$   18,982
Costs and expenses:
     Cost of sales
2,335
2,461
8,497
8,854
     SG&A expenses
1,330
1,393
5,103
5,296
     Other deductions, net
338
274
1,274
1,009
     Interest expense, net
92
76
237
334
Earnings from continuing operations before income taxes
760
997
2,905
3,489
Income taxes
152
253
690
796
Earnings from continuing operations
608
744
2,215
2,693
Discontinued operations, net of tax
1
—
8
—
Net earnings
609
744
2,223
2,693
Less: Noncontrolling interests in subsidiaries
—
—
(47)
2
Net earnings common stockholders
$        609
$        744
$     2,270
$     2,691
Earnings common stockholders
Earnings from continuing operations
$        608
$        744
$     2,262
$     2,691
Discontinued operations
1
—
8
—
Net earnings common stockholders
$        609
$        744
$     2,270
$     2,691
Diluted avg. shares outstanding
565.5
559.7
566.7
562.0
Diluted earnings per share common stockholders
Earnings from continuing operations
$       1.07
$       1.33
$       3.99
$       4.79
Discontinued operations
0.01
—
0.01
—
Diluted earnings per common share
$       1.08
$       1.33
$       4.00
$       4.79
Quarter Ended
September 30,
Year Ended September
30,
2025
2026
2025
2026
Other deductions, net
     Amortization of intangibles
$        208
$        203
$       884
$       816
     Restructuring costs
66
46
136
187
     Other
64
25
254
6
          Total
$        338
$        274
$     1,274
$     1,009
Table 2
EMERSON AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(DOLLARS IN MILLIONS, UNAUDITED)
Year Ended Sept 30,
2025
2026
Assets
     Cash and equivalents
$         1,544
$         1,806
     Receivables, net
3,101
3,317
     Inventories
2,213
2,432
     Other current assets
1,725
1,962
          Total current assets
8,583
9,517
     Property, plant & equipment, net
2,871
2,859
     Goodwill
18,193
18,104
     Other intangible assets
9,458
8,442
     Other
2,859
2,892
Total assets
$       41,964
$       41,814
Liabilities and equity
     Short-term borrowings and current
        maturities of long-term debt
$         4,797
$         4,667
     Accounts payable
1,384
1,698
     Accrued expenses
3,616
3,753
          Total current liabilities
9,797
10,118
     Long-term debt
8,319
7,508
     Other liabilities
3,550
3,432
Equity
     Common stockholders' equity
20,282
20,740
     Noncontrolling interests in subsidiaries                                                                           
16
16
     Total equity
20,298
20,756
Total liabilities and equity
$       41,964
$       41,814
Table 3
EMERSON AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(DOLLARS IN MILLIONS, UNAUDITED)
Year Ended Sept 30,
2025
2026
Operating activities
Net earnings
$         2,223
$         2,693
Earnings from discontinued operations, net of tax
(8)
—
Adjustments to reconcile net earnings to net cash provided by operating activities:
        Depreciation and amortization
1,518
1,478
        Stock compensation
263
237
        Pension expense (income)
9
(25)
        Pension funding
(46)
(38)
        Changes in operating working capital
(9)
(338)
        Other, net
(274)
(29)
            Cash from continuing operations
3,676
3,978
            Cash from discontinued operations
(578)
—
            Cash provided by operating activities
3,098
3,978
Investing activities
Capital expenditures
(431)
(443)
Purchases of businesses, net of cash and equivalents acquired
(37)
(6)
Other, net
(125)
(6)
    Cash used in investing activities
(593)
(455)
Financing activities
Net increase in short-term borrowings
1,110
2,051
Proceeds from short-term borrowings greater than three months
8,008
7,058
Payments of short-term borrowings greater than three months
(4,918)
(9,388)
Proceeds from long-term debt
1,544
—
Payments of long-term debt
(503)
(588)
Dividends paid
(1,192)
(1,244)
Purchases of common stock
(1,167)
(1,000)
Purchase of noncontrolling interest
(7,244)
—
Repurchase of AspenTech share awards
(76)
—
Other, net
(72)
(111)
    Cash used in financing activities
(4,510)
(3,222)
Effect of exchange rate changes on cash and equivalents
(39)
(39)
Increase (Decrease) in cash and equivalents
(2,044)
262
Beginning cash and equivalents
3,588
1,544
Ending cash and equivalents
$         1,544
$         1,806
Table 4
EMERSON AND SUBSIDIARIES
SEGMENT SALES AND EARNINGS
(AMOUNTS IN MILLIONS, UNAUDITED)
The following tables show results for the Company's segments on an adjusted segment EBITA basis and are intended
to supplement the Company's results of operations, including its segment earnings which are defined as earnings before
interest and taxes. The Company defines adjusted segment and total segment EBITA as segment earnings excluding
intangibles amortization expense, and restructuring and related expense. Adjusted segment and total segment EBITA,
and adjusted segment and total segment EBITA margin are measures used by management and may be useful for
investors to evaluate the Company's segments' operational performance.
Quarter Ended Sept 30,
2025
2026
Reported
Underlying
Sales
Control Systems & Software                                   
1,099
$       1,247
14 %
14 %
Test & Measurement
407
465
14 %
15 %
Software & Systems
$      1,506
$       1,712
14 %
14 %
Sensors
1,149
1,191
4 %
3 %
Final Control
1,637
1,725
5 %
5 %
Intelligent Devices
$      2,786
$       2,916
5 %
4 %
Safety & Productivity
$         563
$          573
2 %
2 %
Total
$      4,855
$       5,201
7 %
7 %
Sales Growth by Geography
Quarter Ended
Sept 30,
Americas
9 %
Europe
1 %
Asia, Middle East & Africa                                       
7 %
Table 4 cont.
Year Ended Sept 30,
2025
2026
Reported
Underlying
Sales
Control Systems & Software                                   
4,334
$         4,580
6 %
5 %
Test & Measurement
1,485
1,732
17 %
15 %
Software & Systems
$         5,819
$         6,312
8 %
7 %
Sensors
4,135
4,302
4 %
3 %
Final Control
5,952
6,194
4 %
2 %
Intelligent Devices
$       10,087
$       10,496
4 %
3 %
Safety & Productivity
$         2,110
$         2,174
3 %
2 %
Total
$       18,016
$       18,982
5 %
4 %
Sales Growth by Geography      
Year Ended Sept
30,
Americas
7 %
Europe
(1) %
Asia, Middle East & Africa                                       
3 %
Table 4 cont.
Quarter Ended Sept 30,
Quarter Ended Sept 30,
2025
2026
As
Reported
(GAAP)
Adjusted
EBITA
(Non-GAAP)
As
Reported
(GAAP)
Adjusted
EBITA
(Non-
GAAP)
Earnings
Control Systems & Software
$        186
$        298
$            297
$            412
Margins
16.9 %
27.0 %
23.8 %
33.1 %
Test & Measurement
(4)
116
26
141
Margins
(1.1) %
28.5 %
5.6 %
30.3 %
Software & Systems
$        182
$        414
$            323
$            553
Margins
12.0 %
27.4 %
18.8 %
32.3 %
Sensors
317
348
339
357
Margins
27.6 %
30.3 %
28.5 %
30.0 %
Final Control
403
444
426
470
Margins
24.6 %
27.2 %
24.7 %
27.2 %
Intelligent Devices
$        720
$        792
$            765
$           827
Margins
25.8 %
28.5 %
26.2 %
28.4 %
Safety & Productivity
113
127
119
131
Margins
20.1 %
22.6 %
20.7 %
22.9 %
Corporate items and interest expense, net :
Stock compensation
$           (65)
$           (55)
$            (57)
$            (53)
Unallocated pension and postretirement costs
25
25
31
31
Pension and OPEB mark-to-market adjustment
(34)
—
2
—
Corporate and other
(89)
(34)
(110)
(81)
Interest expense, net
(92)
—
(76)
—
Pretax Earnings / Adjusted EBITA
$           760
$        1,269
$            997
$         1,408
Margins
15.6 %
26.1 %
19.2 %
27.1 %
Supplemental Total Segment Earnings:
Adjusted Total Segment EBITA
$         1,333
$         1,511
Margins
27.5 %
29.1 %
Year Ended Sept 30,
Year Ended Sept 30,
2025
2026
As
Reported
(GAAP)
Adjusted
EBITA
(Non-
GAAP)
As
Reported
(GAAP)
Adjusted
EBITA
(Non-
GAAP)
Earnings
Control Systems & Software
$         903
$       1,403
$       1,038
$       1,467
Margins
20.8 %
32.4 %
22.7 %
32.0 %
Test & Measurement
(68)
375
47
503
Margins
(4.5) %
25.3 %
2.7 %
29.0 %
Software & Systems
$           835
$        1,778
$         1,085
$        1,970
Margins
14.4 %
30.6 %
17.2 %
31.2 %
Sensors
1,112
1,182
1,184
1,259
Margins
26.9 %
28.6 %
27.5 %
29.3 %
Final Control
1,415
1,560
1,459
1,660
Margins
23.8 %
26.2 %
23.6 %
26.8 %
Intelligent Devices
$        2,527
$        2,742
$         2,643
$        2,919
Margins
25.1 %
27.2 %
25.2 %
27.8 %
Safety & Productivity
418
455
416
471
Margins
19.8 %
21.5 %
19.2 %
21.7 %
Corporate items and interest expense, net :
Stock compensation
(263)
(216)
(237)
(222)
Unallocated pension and postretirement costs
114
114
125
125
Pension and OPEB mark-to-market adjustment
(34)
—
2
—
Corporate and other
(455)
(175)
(211)
(209)
Interest expense, net
(237)
—
(334)
—
Pretax Earnings / Adjusted EBITA
$        2,905
$        4,698
$         3,489
$        5,054
Margins
16.1 %
26.1 %
18.4 %
26.6 %
Supplemental Total Segment Earnings:
Adjusted Total Segment EBITA
$        4,975
$        5,360
Margins
27.6 %
28.2 %
Table 4 cont.
Quarter Ended Sept 30,
Quarter Ended Sept 30,
2025
2026
Amortization of
Intangibles 1
Restructuring
and
Related Costs 2
Amortization of
Intangibles 1
Restructuring
and
Related Costs 2
Control Systems & Software
$              102
$                10
$                99
$                16
Test & Measurement
107
13
107
8
Software & Systems
$              209
$                23
$              206
$                24
Sensors
12
19
11
7
Final Control
29
12
27
17
Intelligent Devices
$                41
$                31
$                38
$                24
Safety & Productivity
7
7
7
5
Corporate
—
20
—
10
Total
$              257
$                81
$              251
$                63
1 Amortization of intangibles includes $49 and $49 reported in cost of sales for the three months ended September 30,
  2025 and 2026, respectively.
2 Restructuring and related costs includes $15 and $17 of restructuring-related costs for the three months ended September
  30, 2025 and 2026, respectively.
Year Ended Sept 30,
Year Ended Sept 30,
2025
2026
Amortization of
Intangibles 1
Restructuring
and
Related Costs 2
Amortization of
Intangibles 1
Restructuring
and
Related Costs 2
Control Systems & Software               
$              471
$                29
$              402
$                27
Test & Measurement
425
18
429
27
Software & Systems
$              896
$                47
$              831
$                54
Sensors
45
25
46
29
Final Control
115
30
108
93
Intelligent Devices
$              160
$                55
$              154
$              122
Safety & Productivity
27
10
28
27
Corporate
—
50
—
24
Total
$            1,083
$              162
$            1,013
$              227
1 Amortization of intangibles includes $199 and $197 reported in cost of sales for the twelve months ended September 30,
  2025 and 2026, respectively.
2 Restructuring and related costs includes $26 and $40 of restructuring-related costs for the twelve months ended September
  30, 2025 and 2026, respectively.
Quarter Ended Sept 30,
2025
2026
Depreciation and Amortization                                                                                                  
Control Systems & Software
$           125
$           128
Test & Measurement
120
120
Software & Systems
245
248
Sensors
45
35
Final Control
58
57
Intelligent Devices
103
92
Safety & Productivity
19
21
Corporate
12
12
          Total
$           379
$           373
Year Ended Sept 30,
2025
2026
Depreciation and Amortization
Control Systems & Software
$           557
$           502
Test & Measurement
476
479
Software & Systems
1,033
981
Sensors
140
136
Final Control
227
227
Intelligent Devices
367
363
Safety & Productivity
74
87
Corporate
44
47
          Total
$         1,518
$         1,478
Table 5
EMERSON AND SUBSIDIARIES
ADJUSTED CORPORATE AND OTHER SUPPLEMENTAL
(AMOUNTS IN MILLIONS, UNAUDITED)
The following table shows the Company's stock compensation and corporate and other expenses on an adjusted basis.
The Company's definition of adjusted stock compensation excludes integration-related stock compensation expense.
The Company's definition of adjusted corporate and other excludes corporate restructuring and related costs, first year
purchase accounting related items and transaction fees, the mark-to-market adjustment on pension and other
postretirement plans, and certain gains, losses or impairments. These metrics are useful for reconciling from total
adjusted segment EBITA to the Company's consolidated adjusted EBITA.
Quarter Ended Sept 30,
2025
2026
Stock compensation (GAAP)
$                  (65)
$                  (57)
Integration-related stock compensation expense        
10 1
4
Adjusted stock compensation (non-GAAP)
$                  (55)
$                  (53)
Quarter Ended Sept 30,
2025
2026
 Corporate and other (GAAP)
$                  (89)
$                (110)
 Corporate restructuring and related costs
16
10
 Acquisition/divestiture fees and related costs
39
28
 IEEPA tariff refunds net of charitable trust contribution
—
(9)
 Adjusted corporate and other (Non-GAAP)
$                  (34)
$                  (81)
Quarter Ended Sept 30,
2025
2026
Pension income (expense) (GAAP) 2
$                    (9)
$                    33
Pension and OPEB mark-to-market adjustment
34
(2)
Adjusted pension income (expense) (Non-GAAP)     
$                    25
$                    31
1  Integration-related stock compensation expense relates to NI and AspenTech and includes $4 reported as restructuring costs
2  Pension income (expense) includes the unallocated pension and postretirement costs and the pension and OPEB mark-to market adjustment
Table 5 cont.
Year Ended Sept 30,
2025
2026
Stock compensation (GAAP)
$             (263)
$             (237)
Integration-related stock compensation expense
47 3
15 4
Adjusted stock compensation (non-GAAP)
$             (216)
$             (222)
Year Ended Sept 30,
2025
2026
Corporate and other (GAAP)
$             (455)
$             (211)
 Corporate restructuring and related costs
25
23
 Acquisition/divestiture fees and related costs
255
70
 IEEPA tariff refunds net of charitable trust contribution
—
(91)
Adjusted corporate and other (Non-GAAP)
$             (175)
$             (209)
Year Ended Sept 30,
2025
2026
Pension income (expense) (GAAP) 5
$                80
$               127
Pension and OPEB mark-to-market adjustment
34
(2)
Adjusted pension income (expense) (Non-GAAP)          
$               114
$               125
3 Integration-related stock compensation expense relates to NI and AspenTech and includes $25 reported as restructuring costs
4 Integration-related stock compensation expense relates to NI and AspenTech and includes $1 reported as restructuring costs
5  Pension income (expense) includes the unallocated pension and postretirement costs and the pension and OPEB mark-to market adjustment
Table 6
EMERSON AND SUBSIDIARIES
ADJUSTED EBITA & EPS SUPPLEMENTAL
(AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)
The following tables, which show results on an adjusted EBITA basis and diluted earnings per share on an adjusted basis,
are intended to supplement the Company's discussion of its results of operations herein. The Company defines adjusted
EBITA as earnings excluding interest expense, net, income taxes, intangibles amortization expense, restructuring expense,
first year purchase accounting related items and transaction fees, the mark-to-market adjustment on pension and other
postretirement plans, and certain gains, losses or impairments. Adjusted earnings per share excludes intangibles amortization
expense, restructuring expense, first year purchase accounting related items and transaction-related costs, the mark-to-market
adjustment on pension and other postretirement plans, discrete taxes, and certain gains, losses or impairments. Adjusted EBITA,
adjusted EBITA margin, and adjusted earnings per share are measures used by management and may be useful for investors
to evaluate the Company's operational performance.
Quarter Ended Sept 30,
2025
2026
Pretax earnings
$           760
$           997
Percent of sales
15.6 %
19.2 %
Interest expense, net
92
76
Amortization of intangibles
257
251
Restructuring and related costs
81
63
Acquisition/divestiture fees and related costs
45
32
Pension and OPEB mark-to-market adjustment
34
(2)
IEEPA tariff refunds net of charitable trust contribution
—
(9)
Adjusted EBITA
$        1,269
$        1,408
Percent of sales
26.1 %
27.1 %
Quarter Ended Sept 30,
2025
2026
GAAP earnings from continuing operations per share
$          1.07
$          1.33
Amortization of intangibles
0.35
0.34
Restructuring and related costs
0.11
0.14
Acquisition/divestiture fees and related costs
0.06
0.05
Pension and OPEB mark-to-market adjustment
0.05
(0.01)
IEEPA tariff refunds net of charitable trust contribution
—
(0.01)
Discrete taxes
(0.02)
0.02
Adjusted earnings from continuing operations per share                                             
$          1.62
$          1.86
Year Ended Sept 30,
2025
2026
Pretax earnings
$        2,905
$        3,489
Percent of sales
16.1 %
18.4 %
Interest expense, net
237
334
Amortization of intangibles
1,083
1,013
Restructuring and related costs
162
227
Acquisition/divestiture fees and related costs
277
84
Pension and OPEB mark-to-market adjustment
34
(2)
IEEPA tariff refunds net of charitable trust contribution                                                    
—
(91)
Adjusted EBITA
$        4,698
$        5,054
Percent of sales
26.1 %
26.6 %
Year Ended Sept 30,
2025
2026
GAAP earnings from continuing operations per share
$          3.99
$          4.79
Amortization of intangibles
1.35
1.38
Restructuring and related costs
0.23
0.36
Acquisition/divestiture fees and related costs
0.33
0.14
Discrete taxes
0.06
0.05
Pension and OPEB mark-to-market adjustment
0.05
(0.01)
IEEPA tariff refunds net of charitable trust contribution
—
(0.12)
Adjusted earnings from continuing operations per share
$          6.01
$          6.59
Table 6 cont.
Quarter Ended September 30, 2026
Pretax
Earnings
Income
Taxes
Earnings from
Cont.
Ops.
Non-Controlling
Interests 3
Net
Earnings
Common
Stockholders
Diluted
Earnings
Per
Share
As reported (GAAP)
$      997
$      253
$        744
$          —
$            744
$     1.33
Amortization of intangibles
251 1
59
192
—
192
0.34
Restructuring and related costs
63 2
(16)
79
—
79
0.14
Acquisition/divestiture fees and related costs
32
3
29
—
29
0.05
Pension and OPEB mark-to-market adjustment
(2)
1
(3)
—
(3)
(0.01)
IEEPA tariff refunds net of charitable trust contribution
(9)
(2)
(7)
—
(7)
(0.01)
Discrete taxes
—
(10)
10
—
10
0.02
Adjusted (Non-GAAP)
$   1,332
$      288
$     1,044
$          —
$          1,044
$     1.86
Interest expense, net
$       76
Adjusted EBITA (Non-GAAP)
$   1,408
1  Amortization of intangibles includes $49 reported in cost of sales.
2  Restructuring and related costs includes $17 of restructuring-related costs.
3  Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in.
Year Ended September 30, 2026
Pretax
Earnings
Income
Taxes
Earnings from
Cont.
Ops.
Non-Controlling
Interests 3
Net
Earnings
Common
Stockholders
Diluted
Earnings
Per
Share
As reported (GAAP)
$   3,489
$      796
$     2,693
$           2
$          2,691
$     4.79
Amortization of intangibles
1,013 1
236
777
—
777
1.38
Restructuring and related costs
227 2
24
203
—
203
0.36
Acquisition/divestiture fees and related costs
84
8
76
—
76
0.14
Pension and OPEB mark-to-market adjustment
(2)
1
(3)
—
(3)
(0.01)
IEEPA tariff refunds net of charitable trust contribution
(91)
(21)
(70)
—
(70)
(0.12)
Discrete taxes
—
(28)
28
—
28
0.05
Adjusted (Non-GAAP)
$   4,720
$   1,016
$     3,704
$           2
$          3,702
$     6.59
Interest expense, net
334
Adjusted EBITA (Non-GAAP)
$   5,054
1  Amortization of intangibles includes $197 reported in cost of sales.
2  Restructuring and related costs includes $40 of restructuring-related costs.
3  Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in. 
Reconciliations of Non-GAAP Financial Measures & Other
Table 7
Reconciliations of Non-GAAP measures with the most directly comparable GAAP measure (dollars in millions,
except per share amounts). See tables 4 through 7 for additional non-GAAP reconciliations.
Q4 FY26 Underlying Sales Change
Reported
(Favorable) /
Unfavorable FX
(Acquisitions) /
Divestitures
Underlying
Control Systems & Software
14 %
— %
— %
14 %
Test & Measurement
14 %
1 %
— %
15 %
Software & Systems
14 %
— %
— %
14 %
Sensors
4 %
(1) %
— %
3 %
Final Control
5 %
— %
— %
5 %
Intelligent Devices
5 %
(1) %
— %
4 %
Safety & Productivity
2 %
— %
— %
2 %
Emerson
7 %
— %
— %
7 %
Year Ended Sept 30, 2026 Underlying Sales Change
Reported
(Favorable) /
Unfavorable FX
(Acquisitions) /
Divestitures
Underlying
Control Systems & Software
6 %
(1) %
— %
5 %
Test & Measurement
17 %
(2) %
— %
15 %
Software & Systems
8 %
(1) %
— %
7 %
Sensors
4 %
(1) %
— %
3 %
Final Control
4 %
(2) %
— %
2 %
Intelligent Devices
4 %
(1) %
— %
3 %
Safety & Productivity
3 %
(1) %
— %
2 %
Emerson
5 %
(1) %
— %
4 %
Underlying Growth Guidance                                             
2027 Q1
Guidance
2027
Guidance
Reported (GAAP)
~5%
~5%
(Favorable) / Unfavorable FX
-
-
(Acquisitions) / Divestitures
-
-
Underlying (non-GAAP)
~5%
~5%
2025 Q4 Adjusted Segment EBITA
EBIT
EBIT
Margin
Amortization
of
Intangibles
Restructuring
and Related
Costs
Adjusted
Segment
EBITA
Adjusted
Segment
EBITA
Margin
Control Systems & Software
$         186
16.9 %
$         102
$            10
$         298
27.0 %
Test & Measurement
(4)
(1.1) %
107
13
116
28.5 %
Software & Systems
$         182
12.0 %
$         209
$            23
$         414
27.4 %
Sensors
317
27.6 %
12
19
348
30.3 %
Final Control
403
24.6 %
29
12
444
27.2 %
Intelligent Devices
$         720
25.8 %
$           41
$            31
$         792
28.5 %
Safety & Productivity
$         113
20.1 %
$             7
$              7
$         127
22.6 %
2026 Q4 Adjusted Segment EBITA
EBIT
EBIT
Margin
Amortization
of
Intangibles
Restructuring
and Related
Costs
Adjusted
Segment
EBITA
Adjusted
Segment
EBITA
Margin
Control Systems & Software
$         297
23.8 %
$           99
$            16
$         412
33.1 %
Test & Measurement
26
5.6 %
107
8
141
30.3 %
Software & Systems
$         323
18.8 %
$         206
$            24
$         553
32.3 %
Sensors
339
28.5 %
11
7
357
30.0 %
Final Control
426
24.7 %
27
17
470
27.2 %
Intelligent Devices
$         765
26.2 %
$           38
$            24
$         827
28.4 %
Safety & Productivity
$         119
20.7 %
$             7
$              5
$         131
22.9 %
Total Adjusted Segment EBITA
2025 Q4
2026 Q4
Pretax earnings (GAAP)
$           760
$           997
Margin
15.6 %
19.2 %
Corporate items and interest expense, net         
255
210
Amortization of intangibles
257
251
Restructuring and related costs
61
53
Adjusted segment EBITA (non-GAAP)
$         1,333
$         1,511
Margin
27.5 %
29.1 %
2025 Adjusted Segment EBITA          
EBIT
EBIT
Margin
Amortization
of
Intangibles
Restructuring
and Related
Costs
Adjusted
Segment
EBITA
Adjusted
Segment
EBITA
Margin
Control Systems & Software
$         903
20.8 %
$         471
$            29
$       1,403
32.4 %
Test & Measurement
(68)
(4.5) %
425
18
375
25.3 %
Software & Systems
$         835
14.4 %
$         896
$            47
$       1,778
30.6 %
Sensors
1,112
26.9 %
45
25
1,182
28.6 %
Final Control
1,415
23.8 %
115
30
1,560
26.2 %
Intelligent Devices
$       2,527
25.1 %
$         160
$            55
$       2,742
27.2 %
Safety & Productivity
$          418
19.8 %
$           27
$            10
$          455
21.5 %
2026 Adjusted Segment EBITA
EBIT
EBIT
Margin
Amortization
of
Intangibles
Restructuring
and Related
Costs
Adjusted
Segment
EBITA
Adjusted
Segment
EBITA
Margin
Control Systems & Software
$       1,038
22.7 %
$         402
$            27
$       1,467
32.0 %
Test & Measurement
47
2.7 %
429
27
503
29.0 %
Software & Systems
$       1,085
17.2 %
$         831
$            54
$       1,970
31.2 %
Sensors
1,184
27.5 %
46
29
1,259
29.3 %
Final Control
1,459
23.6 %
108
93
1,660
26.8 %
Intelligent Devices
$       2,643
25.2 %
$         154
$          122
$       2,919
27.8 %
Safety & Productivity
$          416
19.2 %
$           28
$            27
$          471
21.7 %
Total Adjusted Segment EBITA
2025
2026
Pretax earnings (GAAP)
$         2,905
$         3,489
Margin
16.1 %
18.4 %
Corporate items and interest expense, net           
875
655
Amortization of intangibles
1,083
1,013
Restructuring and related costs
112
203
Adjusted segment EBITA (non-GAAP)
$         4,975
$         5,360
Margin
27.6 %
28.2 %
Free Cash Flow
2025 Q4
2026 Q4
Operating cash flow (GAAP)
$         1,011
$         1,075
Capital expenditures
(168)
(159)
Free cash flow (non-GAAP)
$            843
$            916
Free Cash Flow
FY25
FY26
2027E
($ in billions)
Operating cash flow (GAAP)                                       
$         3,676
$         3,978
 $4.3 - $4.4
Capital expenditures
(431)
(443)
~(0.5)
Free cash flow (non-GAAP)
$         3,245
$         3,535
$3.8 - $3.9
Note 1: Underlying sales and orders exclude the impact of currency translation and significant acquisitions and divestitures.
Note 2: All fiscal year 2027E figures are approximate, except where range is given.

View original content to download multimedia: https://www.prnewswire.com/news-releases/emerson-reports-fourth-quarter-and-full-year-2026-results-provides-initial-2027-outlook-302928622.html

SOURCE Emerson

Läs mer på PR Newswire

Ämnen i artikeln
Avatar for PR Newswire

PR Newswire

Emerson Electric

Senast

166,39

1 dag %

0,00%
KöpSälj

1 dag

1 mån

1 år

Eliesaabhm Event Iris Law Imaan Hamman Anok Yai Amelia Gray

Idag, 11:45

Analytiker: H&M måste vinna tillbaka unga kvinnor

H&M behöver återfå sitt anseende bland influencers och inom modebranschen. Det skriver Handelsbanken efter tisdagens analytikermöte i London.

Aktieanalyser

Granges 2

Idag, 15:03

Gränges: Rekordvinsten döljer svagheterna

Gränges har sålt mer aluminium elva kvartal i rad och tjänar rekordmycket. Men tre fjärdedelar av vinsten kommer från USA, där fabrikerna är fulla. Den tillgängliga kapaciteten finns i Europa och Asien, där varje ton ger en fjärdedel så mycket vinst.

Takjell

Idag, 09:08

Teknisk analys: Köp oljebolaget – sälj PowerCell

Investtechs analytiker lyfter fram två köpvärda aktier och säljstämplar PowerCell Group.

Invisio

Igår, 15:06

Invisio: Fortsatt köp efter kursraset

Invisio föll tvåsiffrigt efter sin Q3-rapport. Orderingången var god. Dock var bruttomarginalen och därmed rörelsemarginalen sämre än väntat.

GÖTEBORG, SVERIGE 20260924 Erik Thedéen, riksbankschef, kommenterar riksbankens senaste besked om styrräntan. Foto: Björn Larsson Rosvall / TT / Kod 9200

Idag, 09:46

Riksbanken höjer räntan – fler höjningar väntas

Riksbanken höjer styrräntan till 2%. Fler höjningar är sannolika det närmaste året, enligt beskedet.

Mellanårsvalet

Nordeas Torbjörn Isaksson och Nordeas Amanda Sundström väntar sig finanspolitiskt dödläge i USA. Foto: Pressbilder

Idag, 08:50

Finanspolitiskt dödläge väntar: "Trump vill bli Mr Veto"

Börsterminerna faller – men små rörelser

Sdl5v8iy15ils4 Normalhires

Idag, 07:34

Demokraterna tar kongressen efter historisk seger

Demokraterna ser ut att ta kontroll över både senaten och representanthuset efter flera uppmärksammade segrar i det amerikanska mellanårsvalet.

Bergqvist Kromnika

Idag, 09:16

Bergqvist: Centralbankerna måste hinna ikapp AI

Ångmaskinen och elektriciteten tog lång tid att synas i produktiviteten. AI går betydligt snabbare. Det ställer centralbankerna inför ett dilemma. Räknar de hem vinsterna för tidigt blir räntan fel. Väntar de för länge underskattar de ekonomins tillväxtförmåga.

Novo Nordisk VD Mike Doustdar

Idag, 07:39

Novo Nordisk överträffar förväntningarna – höjer helårsprognosen

Läkemedelsbolaget Novo Nordisk redovisar en omsättning och ett justerat rörelseresultat som var högre än väntat under tredje kvartalet.

Johan Hjertonsson 900

Igår, 15:58

Latours VD om Fagerhult: ”En svår period”

Den onoterade portföljen lyfter Latour som ökar 3% på Stockholmsbörsen

Protean 3 Scaled

Igår, 15:23

Protean köper Ratos – fler noteringar kan vara på väg

Ratos kan börsnotera fler av sina innehav. Det tror Protean-förvaltaren Carl Gustafsson, som pekar på att ett tidigare Ratosbolag stigit 67% sedan noteringen. Nu köper fonden aktier i Ratos.

STOCKHOLM, SVERIGE 20261008 Riksbankschef Erik Thedéen talar om det ekonomiska läget och aktuell penningpolitik vid Ruter Dam-dagen på Kungliga Operan. Foto: Claudio Bresciani / TT / Kod 10090

Igår, 15:01

Bankerna eniga: Riksbanken höjer räntan på onsdag

Samtliga storbanker räknar med att Riksbanken höjer styrräntan för första gången på tre år från 1,75% till 2% på onsdag. Oenigheten gäller i stället vad som händer sedan.

Aktier

Saab Och Atlas Copco

Igår, 10:32

Genomgång: Så dyra är svenskarnas favoritaktier – Saab i topp

Aldrig har så många svenskar ägt aktier. Men de populäraste aktierna har blivit dyra. Sju av de tio mest ägda bolagen handlas till ett högre P/E-tal än snittet de senaste fem åren, och storbankerna ligger närmare 40% över.

STOCKHOLM 20210202 Aktiehandel på mobiltelefon. Foto: Henrik Montgomery/TT Kod: 10060

Igår, 07:35

Privatspararna återvänder till börsen – Investor lockar flest

Antalet aktieägare i Sverige nådde rekordnivån 2,9 miljoner under tredje kvartalet, enligt data från Euroclear.

Feminv

Igår, 08:00

Sålde i panik 2008 – nu närmar sig hennes fond 100 miljoner

Michaela Berglund började spara 200 kr i månaden, precis före finanskrisen 2008. När börsen rasade sålde hon i panik. I dag driver hon Feminvest, vars riskkapitalfond närmar sig 100 Mkr. Hittills har över 3 300 bolag sökt kapital från fonden.

Qlinea Minesto Zenicor

Igår, 10:47

Emissionsfiasko – alla åtta slutar med storförlust

För första gången hittar Placera inte en enda vinnare när vi följer upp företrädesemissioner ett år senare. Medianavkastningen för emissionerna i oktober i fjol blev -71%. Bäst gick Zenicor, ned 38%. Immunovia, som föll 84%, är tillbaka med en ny emission. Heliospectra och Pixfam har kastat in handduken för gott.

Marknadsöversikt

1 DAG %

Senast

1 mån
69fb0b200271b8f18fd5708c Silex 2

Idag, 15:20

Börsdebuterna som rusade – och rasade

Quickbit steg 216% första handelsdagen. I dag heter bolaget Valuno, och i veckan åtalades den tidigare VD:n för grovt insiderbrott. Här är aktierna som har gått bäst och sämst första handelsdagen.

Freemelt1

Idag, 13:18

Freemelt fyller kassan efter orderlyftet

3D-skrivarbolaget Freemelt planerar en företrädesemission som kan tillföra 152 Mkr brutto. Preliminära Q3-siffror visar att försäljningen backade 30%, men att orderingången trefaldigades. Emissionsguiden inleder sin bevakning.

Sdly Whfdueney Nh 1

Idag, 12:50

Börsen stiger efter räntebeskedet – Saab sjunker

Stockholmsbörsen lade i en högre växel under förmiddagen och vid lunchtid nosade index på dagens högsta nivåer.

Latours Hjertonsson Scaled

Idag, 11:06

Flera höjda riktkurser för Latour

Pareto upprepar behåll för investmentbolaget Latour och höjer riktkursen till 238 kronor från 209 kronor.

Cloetta Swedish Products

Idag, 07:39

Cloetta ökade justerat rörelseresultat och nådde lönsamhetsmål i förtid

Godistillverkaren Cloetta redovisar ökad omsättning och förbättrat justerat rörelseresultat under tredje kvartalet, samtidigt som bolaget nått sitt medelfristiga lönsamhetsmål tidigare än planerat.