Emerson Q2 EPS beats, raises FY2023 guidance; CFO Dellaquila retiring, Baughman promoted

EMERSON ELECTRIC CO

2023-Q2 EPS reported $5.38 revenue$7,129,000,000

Q2 net sales $3.756B (+14% YoY); GAAP EPS $0.92 (+28%); adjusted EPS $1.09 (+25%).
Adjusted segment EBITA margin 24.6% (+320 bps); operating cash flow $575M, free cash flow $513M.
FY2023 adjusted EPS guidance raised to $4.15-$4.25; Q3 adjusted EPS seen $1.07-$1.11.
CFO Frank Dellaquila retiring May 10, remains senior advisor through Sept 30; Mike Baughman promoted to CFO effective May 10.
Quarterly dividend maintained at $0.52/share, payable June 9 to holders of record May 12.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Frank J. Dellaquila

Chief Financial Officer

EMR · EMERSON ELECTRIC CO

Effective: 2023-05-10
Successor: Michael J. Baughman
Filed: May 3, 2023, 7:59 PM ET

Frank J. Dellaquila, the Company’s Senior Executive Vice President and Chief Financial Officer, indicated that he would be retiring from his role as Chief Financial Officer effective May 10, 2023.

Appointed

Michael J. Baughman

Executive Vice President, Chief Financial Officer and Chief Accounting Officer

EMR · EMERSON ELECTRIC CO

Effective: 2023-05-10
Filed: May 3, 2023, 7:59 PM ET

the Company announced the promotion of Michael J. Baughman to Executive Vice President, Chief Financial Officer and Chief Accounting Officer of the Company, effective May 10, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

EMERSON ELECTRIC CO reported second quarter ended March 31, 2023 results: revenue Net Sales $3,756, EPS GAAP Earnings Per Share $0.92. Guidance raised.

Period: second quarter ended March 31, 2023
Revenue: Net Sales $3,756
EPS: GAAP Earnings Per Share $0.92
Guidance: raised
Result: reported results

Exact text from the filing

stock payable June 9, 2023 to stockholders of record May 12, 2023. (dollars in millions, except per share) 2022 Q2 2023 Q2 Change Underlying Orders 1 7 % Net Sales $ 3,291 $ 3,756 14 % Underlying Sales 2 14 % Pretax Earnings $ 509 $ 639 Margin 15.5 % 17.0 % 150 bps Adjusted Segment EBITA 3 $ 703 $ 924 Margin 21.4 % 24.6 % 320 bps GAAP Earnings Per Share $

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Frank J. Dellaquila departed as Chief Financial Officer at EMERSON ELECTRIC CO.

Action: retiring
Role: Chief Financial Officer

Exact text from the filing

Frank J. Dellaquila, the Company’s Senior Executive Vice President and Chief Financial Officer, indicated that he would be retiring from his role as Chief Financial Officer effective May 10, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Michael J. Baughman was appointed as Executive Vice President, Chief Financial Officer and Chief Accounting Officer at EMERSON ELECTRIC CO.

Action: promoted
Role: Executive Vice President, Chief Financial Officer and Chief Accounting Officer

Exact text from the filing

the Company announced the promotion of Michael J. Baughman to Executive Vice President, Chief Financial Officer and Chief Accounting Officer of the Company, effective May 10, 2023.

View on SEC.gov

13 earnings releases filed in the last 30 days. Browse all earnings releases →

EMERSON ELECTRIC CO filing history →

Source: SEC EDGAR

accession 0001193125-23-133091

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