Exhibit 99.1
emrprlogo2.jpg
Emerson Reports Second Quarter 2026 Results; Updates 2026 Outlook
ST. LOUIS, May 5, 2026 /PRNewswire/ -- Emerson (NYSE: EMR) today reported results for its second quarter ended March 31, 2026 and updated its full year outlook for fiscal 2026. Emerson also declared a quarterly cash dividend of $0.555 per share of common stock payable June 10, 2026 to stockholders of record on May 15, 2026.
(dollars in millions, except per share)2025 Q22026 Q2Change
Underlying Orders1
5%
Net Sales$4,432$4,5623%
Underlying Sales2
0.5%
Pretax Earnings$629$793
Margin14.2%17.4%320 bps
Adjusted Segment EBITA3
$1,240$1,258
Margin28.0%27.6%(40) bps
GAAP Earnings Per Share$0.86$1.1028%
Adjusted Earnings Per Share4
$1.48$1.544%
Operating Cash Flow$825$779(6)%
Free Cash Flow$738$694(6)%
Management Commentary
“Emerson's second quarter results reflect our ability to deliver in a dynamic environment," said Emerson President and Chief Executive Officer Lal Karsanbhai. "While sales were impacted by the conflict in the Middle East, margins exceeded expectations, and we achieved strong adjusted earnings per share. Underlying orders were up 5% as we continue to see resilient demand, led by Software & Systems, with sustained momentum in our growth verticals."

Karsanbhai continued, "I want to thank our employees and customers in the Middle East for their unwavering commitment and resiliency. As we look ahead, 2026 continues to develop largely as expected with a strong second half, supported by orders momentum and a robust backlog."
2026 Outlook
The following tables summarize the fiscal year 2026 guidance framework. As we pivot capital allocation to returning cash to shareholders, the 2026 outlook assumes returning ~$2.2B through ~$1B share repurchases and ~$1.2B of dividends.
Guidance figures are approximate.
2026 Q3
2026
Net Sales Growth~5.5%~4.5%
Underlying Sales Growth~5%~3%
Earnings Per Share$1.22 - $1.27$4.79 - $4.89
Amortization of intangibles~$0.34~$1.38
Restructuring and related costs~$0.06~$0.18
Acquisition/divestiture fees and related costs~$0.02~$0.06
Discrete taxes~$0.01~$0.04
Adjusted Earnings Per Share$1.65 - $1.70$6.45 - $6.55
Operating Cash Flow$4.0B - $4.1B
Free Cash Flow$3.5B - $3.6B
1 Underlying orders do not include AspenTech.
2 Underlying sales excludes the impact of currency translation, and significant acquisitions and divestitures.
3 Adjusted segment EBITA represents segment earnings excluding restructuring and intangibles amortization expense.
4 Adjusted EPS excludes intangibles amortization expense, restructuring and related costs, acquisition/divestiture gains, losses, fees and related costs, and discrete taxes.



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Conference Call
Today, beginning at 3:30 p.m. Central Time / 4:30 p.m. Eastern Time, Emerson management will discuss the second quarter results during an investor conference call. Participants can access a live webcast available at https://ir.emerson.com at the time of the call. A replay of the call will be available for 90 days. Conference call slides will be posted in advance of the call on the company website.
About Emerson
Emerson (NYSE: EMR) is a global automation leader delivering solutions for the most demanding technology challenges. Headquartered in St. Louis, Missouri, Emerson is engineering the autonomous future, enabling customers to optimize operations and accelerate innovation. For more information, visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be “forward-looking” statements, which represent management’s expectations, based on currently available information. Actual results, performance or achievements could differ materially from those expressed in any forward-looking statement. Any forward-looking statements in this press release speak only as of the date of this press release. Emerson undertakes no obligation to update any such statements to reflect new information or later developments. Examples of risks and uncertainties that may cause our actual results or performance to be materially different from those expressed or implied by forward looking statements include the scope, duration and ultimate impacts of the Russia-Ukraine, Middle East and other global conflicts, as well as economic and currency conditions, market demand, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, inflation, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. The outlook contained herein represents the Company's expectation for its consolidated results, other than as noted herein.
Emerson uses our Investor Relations website, https://ir.emerson.com, as a means of disclosing information
which may be of interest or material to our investors and for complying with disclosure obligations under Regulation
FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases,
SEC filings, public conference calls, webcasts and social media. The information contained on, or that may be
accessed through, our website is not incorporated by reference into, and is not a part of, this document.
Investors:Media:
Doug AshbyJoseph Sala / Greg Klassen
(314) 553-2197Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

(tables attached)


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Table 1
EMERSON AND SUBSIDIARIES
CONSOLIDATED OPERATING RESULTS
(AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)
Quarter Ended March 31,Six Months Ended March 31,
2025202620252026
Net sales$4,432 $4,562 $8,608 $8,908 
     Cost of sales2,061 2,140 4,002 4,174 
     SG&A expenses1,283 1,316 2,506 2,559 
     Other deductions, net418 229 646 434 
     Interest expense, net41 84 50 173 
Earnings before income taxes629 793 1,404 1,568 
Income taxes199 175 382 344 
Net earnings430 618 1,022 1,224 
Less: Noncontrolling interests in subsidiaries(55)— (48)
Net earnings common stockholders$485 $618 $1,070 $1,223 
Diluted avg. shares outstanding565.4 563.0 568.2 563.5 
Diluted earnings per share common stockholders
  Diluted earnings per common share$0.86 $1.10 $1.88 $2.17 
Quarter Ended March 31,Six Months Ended March 31,
2025202620252026
Other deductions, net
     Amortization of intangibles$229 $205 $457 $409 
     Restructuring costs21 45 32 53 
     Other168 (21)157 (28)
          Total$418 $229 $646 $434 


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Table 2
EMERSON AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(DOLLARS IN MILLIONS, UNAUDITED)
Sept 30, 2025March 31, 2026
Assets
     Cash and equivalents$1,544 $1,791 
     Receivables, net3,101 3,158 
     Inventories2,213 2,452 
     Other current assets1,725 1,850 
Total current assets8,583 9,251 
     Property, plant & equipment, net2,871 2,850 
     Goodwill18,193 18,153 
     Other intangible assets9,458 8,954 
     Other2,859 2,880 
Total assets$41,964 $42,088 
Liabilities and equity
     Short-term borrowings and current maturities of long-term debt$4,797 $5,804 
     Accounts payable1,384 1,468 
     Accrued expenses3,616 3,382 
Total current liabilities9,797 10,654 
     Long-term debt8,319 7,555 
     Other liabilities3,550 3,560 
Equity
     Common stockholders' equity 20,282 20,303 
     Noncontrolling interests in subsidiaries16 16 
Total equity20,298 20,319 
Total liabilities and equity$41,964 $42,088 


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Table 3
EMERSON AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(DOLLARS IN MILLIONS, UNAUDITED)
Six Months Ended March 31,
 20252026
Operating activities  
Net earnings$1,022 $1,224 
Adjustments to reconcile net earnings to net cash provided by operating activities:
        Depreciation and amortization767 728 
        Stock compensation127 113 
        Changes in operating working capital(203)(613)
        Other, net(110)26 
            Cash from continuing operations1,6031,478
            Cash from discontinued operations(585)
            Cash provided by operating activities1,0181,478
Investing activities
Capital expenditures(170)(182)
Purchases of businesses, net of cash and equivalents acquired(36)— 
Other, net(58)(24)
    Cash used in investing activities(264)(206)
Financing activities
Net increase in short-term borrowings2,628 2,027 
Proceeds from short-term borrowings greater than three months2,496 4,447 
Payments of short-term borrowings greater than three months— (5,611)
Proceeds from long-term debt1,544 — 
Payments of long-term debt(2)(587)
Dividends paid(598)(624)
Purchases of common stock(1,122)(542)
Purchase of noncontrolling interest(7,171)— 
Settlement of AspenTech share awards(76)— 
Other, net(81)(123)
    Cash used in financing activities(2,382)(1,013)
Effect of exchange rate changes on cash and equivalents(73)(12)
Increase (decrease) in cash and equivalents(1,701)247 
Beginning cash and equivalents3,588 1,544 
Ending cash and equivalents$1,887 $1,791 


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Table 4
EMERSON AND SUBSIDIARIES
SEGMENT SALES AND EARNINGS
(DOLLARS IN MILLIONS, UNAUDITED)
The following tables show results for the Company's segments on an adjusted segment EBITA basis and are intended to supplement the Company's results of operations, including its segment earnings which are defined as earnings before interest and taxes. The Company defines adjusted segment and total segment EBITA as segment earnings excluding intangibles amortization expense, and restructuring and related expense. Adjusted segment and total segment EBITA, and adjusted segment and total segment EBITA margin are measures used by management and may be useful for investors to evaluate the Company's segments' operational performance.
Quarter Ended March 31,
20252026ReportedUnderlying
Sales
Control Systems & Software$1,093 $1,089 — %(2)%
Test & Measurement358 414 16 %12 %
Software & Systems$1,451 $1,503 4 %1 %
Sensors1,000 1,024 %— %
Final Control1,459 1,488 %(1)%
Intelligent Devices$2,459 $2,512 2 %(1)%
Safety & Productivity$522 $547 5 %2 %
Total$4,432 $4,562 3 %0.5 %



Sales Growth by Geography
Quarter Ended March 31,
Americas%
Europe (4)%
Asia, Middle East & Africa(5)%











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Table 4 cont.
Six Months Ended March 31,
20252026ReportedUnderlying
Sales
Control Systems & Software$2,116 $2,133 %(1)%
Test & Measurement717 823 15 %12 %
Software & Systems$2,833 $2,956 4 %2 %
Sensors1,972 2,020 %— %
Final Control2,793 2,882 %— %
Intelligent Devices$4,765 $4,902 3 % %
Safety & Productivity$1,010 $1,050 4 %2 %
Total$8,608 $8,908 3 %1 %


Sales Growth by Geography
Six Months Ended March 31,
Americas%
Europe (1)%
Asia, Middle East & Africa(3)%


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Table 4 cont.
Quarter Ended March 31,Quarter Ended March 31,
20252026
As Reported (GAAP)Adjusted EBITA
(Non-GAAP)
As Reported (GAAP)Adjusted EBITA
(Non-GAAP)
Earnings
Control Systems & Software$238$375$224$329
 Margins21.7 %34.2 %20.6 %30.2 %
Test & Measurement(24)87 (5)109 
 Margins(6.8)%24.3 %(1.2)%26.3 %
Software & Systems$214$462$219$438
 Margins14.6 %31.7 %14.6 %29.2 %
Sensors266 279 276 296 
 Margins26.6 %27.9 %27.0 %28.9 %
Final Control355 386 353 405 
 Margins24.4 %26.5 %23.7 %27.2 %
Intelligent Devices$621$665$629$701
 Margins25.3 %27.1 %25.0 %27.9 %
Safety & Productivity$105$113$109$119
 Margins20.2 %21.8 %19.8 %21.7 %
Corporate items and interest expense, net:
Stock compensation(59)(50)(57)(53)
Unallocated pension and postretirement costs27 27 28 28 
Corporate and other(238)(74)(51)(39)
Interest expense, net(41)— (84)— 
Pretax Earnings / Adjusted EBITA$629$1,143$793$1,194
 Margins14.2 %25.8 %17.4 %26.2 %
Supplemental Total Segment Earnings:
Adjusted Total Segment EBITA$1,240$1,258
 Margins28.0 %27.6 %


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Table 4 cont.

Quarter Ended March 31,Quarter Ended March 31,
20252026
Amortization of
Intangibles1
Restructuring
and
Related Costs2
Amortization of
Intangibles1
Restructuring
and
Related Costs2
Control Systems & Software$128 $$101 $
Test & Measurement105 107 
Software & Systems$233 $15 $208 $11 
Sensors11 12 
Final Control28 27 25 
Intelligent Devices$39 $5 $39 $33 
Safety & Productivity$6 $2 $7 $3 
Corporate— — 
Total$278 $27 $254 $53 
1 Amortization of intangibles includes $49 and $49 reported in cost of sales for the three months ended March 31, 2025 and 2026, respectively.
2 Restructuring and related costs includes $6 and $8 reported in cost of sales and selling, general and administrative expenses for the three months ended March 31, 2025 and 2026, respectively.
Quarter Ended March 31,
Depreciation and Amortization20252026
Control Systems & Software$148 $125 
Test & Measurement119 120 
Software & Systems267 245 
Sensors32 34 
Final Control56 58 
Intelligent Devices88 92 
Safety & Productivity 18 19 
Corporate11 13 
Total$384 $369 






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Table 5
EMERSON AND SUBSIDIARIES
ADJUSTED CORPORATE AND OTHER SUPPLEMENTAL
(DOLLARS IN MILLIONS, UNAUDITED)
The following table shows the Company's stock compensation and corporate and other expenses on an adjusted basis. The Company's definition of adjusted stock compensation excludes integration-related stock compensation expense. The Company's definition of adjusted corporate and other excludes corporate restructuring and related costs, first year purchase accounting related items and transaction fees, and certain gains, losses or impairments. This metric is useful for reconciling from total adjusted segment EBITA to the Company's consolidated adjusted EBITA.

Quarter Ended March 31,
20252026
 Stock compensation (GAAP)$(59)$(57)
 Integration-related stock compensation expense
1
 Adjusted stock compensation (non-GAAP)$(50)$(53)
Quarter Ended March 31,
20252026
 Corporate and other (GAAP)$(238)$(51)
 Corporate restructuring and related costs
 Acquisition / divestiture costs160 
 Adjusted corporate and other (non-GAAP)$(74)$(39)
1 Integration-related stock compensation expense for the three months ended March 31, 2025 relates to AspenTech and includes $1 reported as restructuring costs.




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Table 6
EMERSON AND SUBSIDIARIES
ADJUSTED EBITA & EPS SUPPLEMENTAL
(AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)
The following tables, which show results on an adjusted EBITA basis and diluted earnings per share on an adjusted basis, are intended to supplement the Company's discussion of its results of operations herein. The Company defines adjusted EBITA as earnings excluding interest expense, net, income taxes, intangibles amortization expense, restructuring expense, first year purchase accounting related items and transaction fees, and certain gains, losses or impairments. Adjusted earnings per share excludes intangibles amortization expense, restructuring expense, first year purchase accounting related items and transaction-related costs, discrete taxes, and certain gains, losses or impairments. Adjusted EBITA, adjusted EBITA margin, and adjusted earnings per share are measures used by management and may be useful for investors to evaluate the Company's operational performance.
Quarter Ended March 31,
20252026
Pretax earnings $629$793
Percent of sales14.2 %17.4 %
Interest expense, net4184
Amortization of intangibles278254
Restructuring and related costs2753
Acquisition/divestiture fees and related costs16810
Adjusted EBITA$1,143$1,194
Percent of sales25.8 %26.2 %
Quarter Ended March 31,
20252026
GAAP earnings per share$0.86$1.10
Amortization of intangibles0.320.35
Restructuring and related costs0.040.07
Discrete taxes0.090.01
Acquisition/divestiture fees and related costs0.170.01
Adjusted earnings per share$1.48$1.54



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Table 6 cont.
Quarter Ended March 31, 2026
Pretax
Earnings
Income
Taxes
Net EarningsNon-Controlling
Interests
Net
Earnings
Common
Stockholders
Diluted
Earnings
Per
Share
As reported (GAAP)$793 $175 $618 $ $618 $1.10 
Amortization of intangibles254
1
59195— 1950.35
Restructuring and related costs53
2
1142— 420.07
Acquisition/divestiture fees and related costs1028— 80.01
Discrete taxes (6)6— 60.01
Adjusted (non-GAAP)$1,110 $241 $869 $ $869 $1.54 
Interest expense, net84 
Adjusted EBITA (non-GAAP)$1,194 
1 Amortization of intangibles includes $49 reported in cost of sales.
2 Restructuring and related costs includes $8 reported in cost of sales and selling, general and administrative expenses.




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Reconciliations of Non-GAAP Financial Measures & OtherTable 7
Reconciliations of Non-GAAP measures with the most directly comparable GAAP measure (dollars in millions, except per share amounts). See tables 4 through 6 for additional non-GAAP reconciliations.
2026 Q2 Underlying Sales ChangeReported(Favorable) / Unfavorable FX(Acquisitions) /
Divestitures
Underlying
Control Systems & Software— %(2)%— %(2)%
Test & Measurement16 %(4)%— %12 %
Software & Systems4 %(3)% %1 %
Sensors%(2)%— %— %
Final Control%(3)%— %(1)%
Intelligent Devices2 %(3)% %(1)%
Safety & Productivity5 %(3)% %2 %
Emerson3 %(2.5)% %0.5 %
Six Months Ended March 31, 2026 Underlying Sales ChangeReported(Favorable) / Unfavorable FX(Acquisitions) /
Divestitures
Underlying
Control Systems & Software%(2)%— %(1)%
Test & Measurement15 %(3)%— %12 %
Software & Systems4 %(2)% %2 %
Sensors%(2)%— %— %
Final Control%(3)%— %— %
Intelligent Devices3 %(3)% % %
Safety & Productivity4 %(2)% %2 %
Emerson3 %(2)% %1 %
Underlying Growth Guidance2026 Q3 Guidance2026
Guidance
Reported (GAAP)~5.5%~4.5%
(Favorable) / Unfavorable FX~(0.5 pts)~(1.5 pts)
(Acquisitions) / Divestitures--
Underlying (non-GAAP)~5%~3%

2025 Q2 Adjusted Segment EBITAEBITEBIT
Margin
Amortization
of
Intangibles
Restructuring and Related CostsAdjusted Segment EBITAAdjusted Segment EBITA Margin
Control Systems & Software$238 21.7 %$128 $$375 34.2 %
Test & Measurement(24)(6.8)%105 87 24.3 %
Software & Systems$214 14.6 %$233 $15 $462 31.7 %
Sensors266 26.6 %11 279 27.9 %
Final Control355 24.4 %28 386 26.5 %
Intelligent Devices$621 25.3 %$39 $5 $665 27.1 %
Safety & Productivity$105 20.2 %$6 $2 $113 21.8 %


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2026 Q2 Adjusted Segment EBITAEBITEBIT
Margin
Amortization
of
Intangibles
Restructuring and Related CostsAdjusted Segment EBITAAdjusted Segment EBITA Margin
Control Systems & Software$224 20.6 %$101 $$329 30.2 %
Test & Measurement(5)(1.2)%107 109 26.3 %
Software & Systems$219 14.6 %$208 $11 $438 29.2 %
Sensors276 27.0 %12 296 28.9 %
Final Control353 23.7 %27 25 405 27.2 %
Intelligent Devices$629 25.0 %$39 $33 $701 27.9 %
Safety & Productivity$109 19.8 %$7 $3 $119 21.7 %

Total Adjusted Segment EBITA2025 Q22026 Q2
Pretax earnings (GAAP)$629$793
Margin14.2 %17.4 %
Corporate items and interest expense, net311164
Amortization of intangibles278254
Restructuring and related costs2247
Adjusted segment EBITA (non-GAAP)$1,240$1,258
Margin28.0 %27.6 %


Free Cash Flow2025 Q22026 Q22025E
($ in billions)
Operating cash flow (GAAP)$825 $779  $4.0 - $4.1
Capital expenditures(87)(85)~(0.45)
Free cash flow (non-GAAP)$738 $694 $3.5 - $3.6

Note 1: Underlying sales and orders exclude the impact of currency translation and significant acquisitions and divestitures.
Note 2: All fiscal year 2026E figures are approximate, except where range is given.