Business Context and Reporting Period
Company: Emerson Electric Co.
Filing Type: Form 8-K (Current Report)
Date of Report: April 6, 2023
Purpose: The filing provides supplemental unaudited historical results to clarify the presentation of consolidated and segment results, specifically regarding AspenTech's financial results within Emerson's consolidated figures. It also details historical underlying sales for new segments for fiscal 2022 on a quarterly basis.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Instead, it references Exhibit 99.1 for supplemental unaudited historical information covering the quarters ended December 31, 2022, and 2021, as well as underlying sales growth for fiscal 2022.
The document notes the use of Non-GAAP Financial Measures, which management believes are useful for evaluation but should be considered supplemental to GAAP financial information.
Material Changes and Context
- Segment Clarification: The report aims to clarify how AspenTech's results are presented within Emerson's consolidated financials.
- Historical Data: Underlying sales growth for new segments is provided for fiscal 2022, though specific figures are located in the attached exhibit rather than the main text.
- No Restatement: The information does not represent a restatement of previously issued financial statements.
Guidance, Outlook, and Risks
Forward-Looking Statements: The filing contains forward-looking statements subject to risks and uncertainties. Emerson undertakes no obligation to update these statements.
Key Risks and Contingencies:
- Successful completion and financial impact of the proposed Climate Technologies transaction.
- Potential National Instruments transaction.
- Scope and duration of the COVID-19 pandemic and the Russia-Ukraine conflict.
- Economic and currency conditions, market demand, oil and gas price volatility, inflation, tariffs, and cybersecurity threats.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific supplemental unaudited historical data and underlying sales growth figures referenced in this filing.
- Verify the reconciliation between the non-GAAP measures presented and the related GAAP financial information in the most recent Form 10-K and 10-Q.
- Monitor the status and potential financial impact of the proposed Climate Technologies and National Instruments transactions.
- Assess the impact of macroeconomic factors (inflation, currency, geopolitical conflict) on future segment performance as outlined in the risk factors.