RTTNews | Aug 4, 2021 07:16AM EDT

07:15 Wednesday, August 4, 2021 (RTTNews.com) - While reporting financial results for the third 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 $3.78 to $3.80 per share and adjusted earnings in a range of $4.06 to $4.08 per share on a net sales growth of 9 to 10 percent and underlying sales growth of 5 to 6 percent.

Previously, the company expected earnings in the range of $3.55 to $3.65 per share and adjusted earnings in the 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.

On average, 21 analysts polled by Thomson Reuters expect the company to report earnings of $3.94 per share on a sales growth of 8.2 percent to $18.16 billion for the year. Analysts' estimates typically exclude special items.

The company's board of directors also declared the regular quarterly cash dividend of $0.505 per share of common stock, payable September 10, 2021 to stockholders of record August 13, 2021.

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