Emerson CEO sees China coronavirus situation stabilizing [Yahoo! Finance News]
Emerson Electric Company (EMR)
Last emerson electric company earnings: 4/21 06:55 am
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Source: Yahoo! Finance News
By Timothy Aeppel March 4 ) - Emerson Electric Co. said it expects sales at its vast China operations to take a painful hit in the first quarter as a result of the coronavirus, but that about half of that lost business will be made up later in the year as China scrambles to stimulate its economy, which will fuel demand for Emerson’s industrial equipment. “At this point we’re running all our China) facilities full out,” Emerson CEO David Farr told in an interview on Wednesday. The improvements in China come as anxiety is rising in other parts of the world, including the United States, where the Federal Reserve on Tuesday slashed its benchmark overnight interest rate by a half percentage point to a target range of 1.00% to 1.25%. It was the first emergency rate cut since 2008, amid the financial crisis. Farr said about 90 percent of Emerson’s 11,000 Chinese workers are back on the job, working through backlogged orders as the larger business climate in China remains stalled. Emerson, b
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EMR
Earnings
- 11/5/24 - Beat
EMR
Sec Filings
- 12/19/24 - Form 4
- 12/13/24 - Form ARS
- 12/13/24 - Form DEFA14A
- EMR's page on the SEC website