Financial Highlights

Financial Highlights

64 Years
of Increased Dividends

Emerson’s people, processes and investments are focused on building sustainable long-term value for shareholders – 64 years and counting.

$3.46
ADJUSTED EARNINGS PER SHARE*
$2.00
DIVIDENDS PER SHARE
*2020 earnings per share excludes restructuring costs and special advisory fees of $0.42 and discrete tax benefits of $0.20.

$3.1B

Operating Cash Flow

$16.8B

Net Sales

Return on Total Capital
(After Tax)

Sales by Geographic Destination

ONE-YEAR PERFORMANCE
Years ended September 30
Dollars in millions,
except per share amounts
2019 2020 PERCENT
CHANGE
Sales $18,372 $16,785 (9)%
Gross profit $7,815 $7,009 (10)%
Adjusted EBIT $3,128 $2,808 (10)%
Adjusted EBITDA $3,950 $3,662 (7)%
Adjusted net earnings $2,291 $2,103 (8)%
Adjusted earnings per share $3.69 $3.46 (6)%
Dividends per share $1.96 $2.00 2%
Operating cash flow $3,006 $3,083 3%
Free cash flow $2,412 $2,545 6%
Dividends as a percent of free cash flow 50% 48%

Adjusted EBIT, EBITDA, net earnings and earnings per share exclude restructuring costs and special advisory fees of $317 ($257 after-tax; $0.42 per share) and $95 ($72 after-tax; $0.12 per share) in 2020 and 2019, respectively. Adjusted net earnings and earnings per share also exclude discrete tax benefits of $119 ($0.20 per share) and $87 ($0.14 per share) in 2020 and 2019, respectively

THREE-YEAR PERFORMANCE
Years ended September 30
Dollars in millions,
except per share amounts
2017* 2020 THREE-YEAR
CAGR
Sales $15,264 $16,785 3%
Gross profit $ 6,404 $ 7,009 3%
Adjusted EBIT $ 2,671 $ 2,808 2%
Adjusted EBITDA $3,307 $ 3,662 3%
Adjusted net earnings $ 1,714 $ 2,103 7%
Adjusted earnings per share $ 2.65 $ 3.46 9%
Dividends per share $ 1.92 $ 2.00 1%
Operating cash flow $ 2,690 $ 3,083 5%
Free cash flow $ 2,214 $ 2,545 5%
Dividends as a percent of free cash flow 56% 48%

*2017 results are presented on a continuing operations basis.

Adjusted EBIT, EBITDA, net earnings and earnings per share exclude restructuring costs and special advisory fees of $317 ($257 after-tax; $0.42 per share) and $78 ($53 after-tax; $0.08 per share) in 2020 and 2017, respectively, and valves and controls first year acquisition accounting charges of $93 ($65 after-tax, $0.10 per share) in 2017. Adjusted net earnings and earnings per share also exclude discrete tax benefits of $119 ($0.20 per share) and $47 ($0.07 per share) in 2020 and 2017, respectively.