$EMR · EMERSON ELECTRIC CO
Emerson Electric filed its 10-K for fiscal 2026 ended September 30, 2026. Net sales rose 5% to $18.98B, gross margin expanded to 53.4% from 52.8%, and diluted EPS from continuing operations climbed 20% to $4.79. Adjusted diluted EPS reached $6.59, up 10% from $6.01. The company reorganized into five reportable segments and reported consolidated backlog of $9.6B, up from $8.6B.
- FY2026 net sales of $18.98B, up 5% year over year.
- Diluted EPS from continuing operations of $4.79, up 20% from $3.99.
- Gross margin expanded to 53.4% from 52.8%.
- Adjusted diluted EPS of $6.59, up 10% from $6.01.
- Consolidated backlog rose to $9.6B from $8.6B.
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Emerson's software-led transformation is compounding: 20% EPS growth and 53.4% gross margin show the portfolio shift paying off.
Emerson's software-heavy pivot (AspenTech, NI) is driving margin expansion, with Software & Systems adjusted EBITA margin at 31.2%.
Raw material supply (steel, electronics, rare earth metals) could be disrupted; ~30% of sales come from Asia/Middle East/Africa, including 9% from China.