Emerson (NYSE: EMR), St. Louis, MO, reported sales for the first quarter ended Dec. 31, 2016, were $3.2 billion, down 4 percent from the same period a year ago. Profit fell 11 percent to $353 million.
Underlying sales (excluding unfavorable currency exchange) fell 3 percent, reflecting mixed but generally improving global economic conditions in key markets.
Growth in the commercial & residential solutions platform resulted from favorable HVAC, refrigeration and U.S. and Asian construction markets, while the automation solutions platform remained down due to the low price of oil but witnessed improving order rates, particularly in North America.
