RTTNews | May 5, 2021 07:19AM EDT

07:18 Wednesday, May 5, 2021 (RTTNews.com) - While reporting financial results for the second quarter on Wednesday, Emerson Electric Co. (EMR) raised its earnings and net sales growth guidance for the full-year 2021, based on the overall continued improvement in industrial and commercial demand over the remainder of 2021.

For fiscal 2021, the company now projects earnings in a range of $3.55 to $3.65 per share and adjusted earnings in a range of $3.85 to $3.95 per share on a net sales growth of 6 to 9 percent and underlying sales growth of 3 to 6 percent.

Previously, the company expected earnings in the range of $3.29 to $3.49 per share and adjusted earnings in the range of $3.60 to $3.80 per share on a net sales growth of 4 to 8 percent and underlying sales growth between flat and a growth of 4 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.78 per share on a sales growth of 6.5 percent to $17.88 billion for the year. Analysts' estimates typically exclude special items.

Separately, the company's board of directors declared the regular quarterly cash dividend of $0.505 per share of common stock, payable June 10, 2021 to stockholders of record May 14, 2021.

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