Emerson Electric Company · NYSE:EMR
Emerson Electric — Q4 2026 Earnings Presentation
24 slides from Emerson Electric's earnings presentation, Nov 4, 2026
Slide 1: 2026 Q4 and Full Year Earnings
2026 Q4 and Full Year Earnings November 4, 2026 EMERSON | 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation and our commentary and responses to questions that are not strictly historical may be “forward-looking” statements, which represent management’s expectations, based on currently available information. Actual results, performance or achievements c
Slide 3: Key Messages
End-Market Demand Q4 Performance Exceeded Expectations Q4 underlying orders growth of 14% Underlying sales growth of 7% Strength in all business groups, led by Adjusted segment EBITA margin of 29.1% Software & Systems +18% and Intelligent Devices +13% Adjusted EPS of $1.86, up 15% yoy Growth in all
Slide 4: Delivering on Value Creation
November August 2026 Guidance Guidance Results Delivering Underlying Sales Growth ~4% ~3.5% 4% on Value Adjusted Segment EBITA Margin ~28% ~28% 28.2% Creation Framework Adjusted EPS $6.35 – $6.55 ~$6.55 $6.59 YoY Growth 10% Free Cash Flow $3.5B – $3.6B ~$3.6B $3.5B Margin >18% ~19% 18.6% EMERSON | 4
Slide 5: Demand Led by Growth Verticals
Demand Led by Growth Verticals Q4 DRIVERS Growth in all business groups Trailing Three-Month Underlying Orders1 Power, LNG and Aerospace & Defense led long-cycle 16% project activity 14% 14% Strength in North America, SE Asia and the Middle 12% East; China remains weak 10% 8% Q4 ENDING PROJECT FUNNE
Slide 6: 2027 Growth Outlook
2027 Growth Outlook Americas Europe Asia, Middle East & Africa ~50% of sales ~20% of sales ~30% of sales 2026 2027E 2026 2027E 2026 2027E 7% MSD (1%) LSD 3% MSD % of Sales1 Assumptions 20262 2027E Robust performance driven by secular trends of electrification, Growth Verticals energy security and ne
Slide 7: 2026 Q4 Performance Summary
2026 Q4 Performance Summary Sales Adjusted Segment EBITA $4.9B $5.2B 29.1% 6 30.0% 27.5% 5 Underlying Sales Growth: Software & Systems 14% 25.0% Exceeded expectations due to 4 better volume and segment mix 20.0% 3 7% Intelligent Devices 4% 160 Underlying bps 15.0% Safety & Productivity 2% Price-cost
Slide 8: 2026 Q4 Underlying Sales by Region
2026 Q4 Underlying Sales by Region $5.2B Net Sales -2.000 28% Growth Verticals End Americas Americas +9% Market U.S. +11% Asia, Middle +7% 20% East & Africa Asia, MEA Middle East & Africa +19% Greenfield 63% MRO 17% Mix Modernization Europe Europe +1% & Expansion EMERSON | 8
Slide 9: 2026 Q4 Group Results
2026 Q4 Group Results Aug. Guide Adjusted Underlying Sales ($M) Underlying EBITA Commentary Growth Growth Margin Test & Measurement +15% Software & Control Systems & Software +14% $1,712 14% ~10% 32.3% Systems Power, LNG and Semiconductor verticals drove growth ACV +10.1% yoy Growth in North America
Slide 10: 2027 Group Underlying Sales Guidance
2027 Group Underlying Sales Guidance Q1 Full Year Assumptions Broad-based strength in the United States and growth verticals Software & Systems 8% – 9% 7% – 8% HSD growth in both Test & Measurement and Control Systems & Software (Q1 & full year) ACV expected to grow ~10% for the full year Strength i
Slide 11: 2027 Guidance
2027 Guidance OTHER GUIDANCE DETAILS GAAP Sales Growth ~5% Free Cash Flow: $3.8B – $3.9B Underlying Sales Growth ~5% ~$3.8B returned to shareholders Full Year Adjusted Segment EBITA ~29% through ~$2.5B share repurchase and ~$1.3B of dividends – $0.16 dividend per share increase, +7% yoy Adjusted EPS
Slide 12: Well on Track For 2028 Targets
Well on Track For 2028 Targets 1 Organic Growth Aligning with secular tailwinds and delivering on industry-leading innovation 2 Operational Excellence Driving 2.4 pts margin expansion and increasing cash generation (2025 – 2028T) 3 Capital Allocation Increasing cash returns to shareholders through $
Slide 13: Appendix
Appendix E M E R S O N | 13
Slide 14: Corporate and Other Items
Corporate and Other Items 2027 Q1 (in millions) 2026 Q4 Results 2026 Results 2027 Expectations Expectations Stock Compensation – GAAP ($57) ($237) ~($60) ~($240) Integration-Related Stock Compensation Expense $4 $15 - - Adjusted Stock Compensation – Non-GAAP ($53) ($222) ~($60) ~($240) Pension Incom
Slide 15: Q4 Adjusted Segment EBITA and EPS Bridges
2 $0.25 ($0.01) $1.86 FX ($0.01) $1.62 1.5 Software & Systems $0.19 Intelligent Devices $0.05 Safety & Productivity $0.01 Q4 Adjusted Segment EBITA 1 15% and EPS Bridges 0.5 0 2025 Operations Other / 2026 Non-Operating Adjusted Segment EBITA Margin 27.5% 1.6 pts n/a 29.1% E M E R S O N | 15
Slide 16: 2026 Full Year Performance Summary
2026 Full Year Performance Summary Sales Adjusted Segment EBITA $19.0B 27.6% 28.2% $18.0B 20 30.0% Underlying Sales Growth: Software & Systems 7% 25.0% 18 Exceeded expectations due to better volume and mix 20.0% 16 4% Intelligent Devices 3% 60 Underlying bps 15.0% 14 Safety & Productivity 2% Price-c
Slide 17: 2026 Adjusted Segment EBITA and EPS Bridges
9 8 $0.11 $6.59 7 $0.47 $6.01 Tax $0.04 2026 Adjusted FX $0.09 6 Software & Systems $0.26 Other ($0.02) Intelligent Devices $0.19 Segment EBITA Safety & Productivity $0.02 10% 5 and EPS Bridges 4 3 2 2025 Operations Other / 2026 Non-Operating Adjusted Segment EBITA Margin 27.6% 0.6 pts n/a 28.2% E M
Slide 18: Reconciliation of Non-GAAP Measures: Underlying Sales Growth
Reconciliation of Non-GAAP Measures Underlying Sales Growth This information reconciles non-GAAP measures with the most directly comparable GAAP measure (dollars in millions, except per share amounts) 2027 Q1 2027 Underlying Sales Growth 2026 Q4 2026 Guidance Guidance Reported (GAAP) 7% 5% ~5% ~5% (
Slide 19: Reconciliation of Non-GAAP Measures: Underlying Sales Growth
Reconciliation of Non-GAAP Measures Underlying Sales Growth This information reconciles non-GAAP measures with the most directly comparable GAAP measure (dollars in millions, except per share amounts) Reported (Favorable) / (Acquisitions) / Underlying 2027E Q1 Underlying Sales Change (GAAP) Unfavora
Slide 20: Reconciliation of Non-GAAP Measures: Adjusted Segment EBITA
Reconciliation of Non-GAAP Measures Adjusted Segment EBITA This information reconciles non-GAAP measures with the most directly comparable GAAP measure (dollars in millions, except per share amounts) 2027 Q1 2027 Adjusted Segment EBITA 2025 Q4 2026 Q4 2025 2026 Guidance Guidance Net sales $4,855 $5,
Slide 21: Reconciliation of Non-GAAP Measures: Adjusted EPS
Reconciliation of Non-GAAP Measures Adjusted EPS This information reconciles non-GAAP measures with the most directly comparable GAAP measure (dollars in millions, except per share amounts) 2027 Q1 2027 2025 Q4 2026 Q4 2025 2026 Guidance Guidance Earnings per share (GAAP) $1.07 $1.33 $3.99 $4.79 $1.
Slide 22: Reconciliation of Non-GAAP Measures: Free Cash Flow
Reconciliation of Non-GAAP Measures Free Cash Flow This information reconciles non-GAAP measures with the most directly comparable GAAP measure (dollars in millions, except per share amounts) $ in billions 2027 2025 Q4 2026 Q4 2025 2026 Guidance Net Sales $4,855 $5,201 $18,016 $18,982 ~$19.9 Operati
Slide 23: Reconciliation of Non-GAAP Measures: Other
Reconciliation of Non-GAAP Measures Other This information reconciles non-GAAP measures with the most directly comparable GAAP measure (dollars in billions, except per share amounts) September 30, 2025 June 30, 2026 September 30, 2026 Backlog (GAAP) $8.6 $9.6 $9.6 AspenTech (1.2) (1.4) (1.4) Backlog
Slide 24: Endnotes
Endnotes Annual Contract Value (ACV): ACV is an estimate of the annual value of our portfolio of term license and software maintenance and support (SMS) contracts, the annual value of SMS agreements purchased with perpetual licenses and the annual value of standalone SMS agreements purchased with ce