Business Context and Reporting Period
Company: Emerson Electric Co.
Filing Type: Form 8-K (Current Report)
Date of Report: November 1, 2016
Reporting Period: Fourth Quarter and Fiscal Year 2016
This filing serves as a notification that the Company issued a press release (Exhibit 99.1) detailing its financial results for the fourth quarter and full fiscal year 2016. The report includes both GAAP and non-GAAP financial measures.
Key Financial Metrics
Note: The provided text is a cover sheet for the 8-K filing and references a press release (Exhibit 99.1) containing the specific data. The text itself does not provide numerical values for the following metrics:
- Revenue: Not specified in this text.
- Profit/Earnings: Not specified in this text.
- Cash Flow: Not specified in this text.
- Margins: Not specified in this text.
- Debt and Liquidity: Not specified in this text.
- Orders: The text defines "underlying orders" as the trailing three-month average orders growth versus the prior year, excluding currency, acquisitions, and divestitures, but does not state the growth percentage.
Material Changes and Adjustments
The filing indicates that the Company presents sales, margins, earnings, cash flow, and segment results on an adjusted basis. These adjustments include:
- Inclusion of results from discontinued businesses.
- Exclusion of repositioning items.
- Exclusion of prior year or current year divestiture gains or losses.
These adjustments are intended to facilitate comparisons with historical results and guidance.
Guidance, Outlook, and Risks
Forward-Looking Statements: The press release contains forward-looking statements subject to risks and uncertainties. Emerson undertakes no obligation to update these statements.
Key Risks Identified:
- Ability to complete strategic portfolio repositioning actions on contemplated terms.
- Financial impact of portfolio repositioning.
- Economic and currency conditions.
- Market demand and pricing.
- Protection of intellectual property.
- Competitive and technological factors.
Non-GAAP Measures: The filing notes that non-GAAP measures are provided as supplemental information and should not be viewed as a substitute for GAAP financial information.
Investor Verification Checklist
- Review Exhibit 99.1 (the press release) for specific numerical values regarding Q4 and FY2016 revenue, earnings, and cash flow, as they are not present in the 8-K cover text.
- Verify the reconciliation between GAAP and non-GAAP measures to understand the impact of repositioning items and divestitures.
- Assess the progress and financial impact of the Company's strategic portfolio repositioning actions mentioned in the risk factors.
- Confirm the trailing three-month average orders growth rate (excluding currency, acquisitions, and divestitures) referenced in the press release.