Today, Emerson announced its results for the second quarter of the fiscal year ended March 31, 20241 and updated its full-year guidance for fiscal 2024. Emerson also announced a quarterly cash dividend of $0.525 per common share to shareholders of record on May 17, 2024, payable on June 10, 2024.

IMRIO02 Summary of fiscal 2024 second Quarter results
• Basic orders 2 were down 1% year-over-year
Net sales for the second quarter were approximately $4.376 billion, up 17% year-over-year, with underlying sales up 8%
• Adjusted EBITA of $41.139 billion and margin of 26%, up 140 basis points year over year
• Adjusted earnings per share of $51.36, up 25% year-over-year
• Operating cash flow of $757 million, up 32% year-over-year
Free cash flow of $675 million, up 32% year-over-year

Management perspective

IMRIO02 Emerson continued to deliver excellent operational execution in the second quarter, with underlying sales growth, earnings growth, and operating leverage and earnings all exceeding our expectations in the second quarter. Supported by process and mixed end market demand, base order rate growth was in line with base expectations for the first half of fiscal 2024. Our continued focus on operational execution instills confidence in our fiscal 2024 expectations.

Our second quarter results, particularly our gross margin performance, demonstrate the strength of our transformed product portfolio and Emerson Management Systems. We are well positioned to continue to provide differentiated solutions to our customers and continue to create value for our shareholders.