Emerson Electric Co. (EMR) released its second quarter results on Thursday, May 6, 2021. The company reported net earnings of $0.93 per share for the second quarter ending March 31, 2021. Earnings for this past quarter were up 10 percent compared to the same period a year ago.
Emerson Electric Co. was founded in 1890 and is headquartered in St. Louis, Missouri. Emerson Electric Co. designs and manufactures technology and engineering products for industrial, commercial, and consumer markets worldwide. It operates through Automation Solutions and Commercial & Residential Solutions segments.
Emerson Electric's revenue decreased 5 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 45.75% for the second quarter compared to the same period in the previous year, and operating margins decreased to 16.57% over the same period. Net earnings for past trailing twelve months were $2128.0 million, down 2% from the prior year.
Moving on to the balance sheet, Emerson Electric's cash levels dropped 9% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 25.04% this past year. The current ratio for Emerson Electric. now stands at 1.26. The company decreased shares outstanding by 1.93%.
Shares of EMR are currently trading around $93.72. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 26.49 and price to book ratio of 6.15.