8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_______________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15 (d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event

reported): September 16, 2020

Emerson Electric Co.

-------------------------------------------------

(Exact Name of Registrant as Specified in Charter)

Missouri	1-278	43-0259330
--------------------------------- (State or Other Jurisdiction of Incorporation)	------------------- (Commission	--------------------------- (I.R.S. Employer Identification Number)
	File Number)

8000 West Florissant Avenue
St. Louis,	Missouri	63136
------------------------------------------------ (Address of Principal Executive Offices)		------------------ (Zip Code)

Registrant’s telephone number, including area code:

(314) 553-2000

------------------------------------------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock of $0.50 par value per share	EMR	New York Stock Exchange
		Chicago Stock Exchange
0.375% Notes due 2024	EMR 24	New York Stock Exchange
1.250% Notes due 2025	EMR 25A	New York Stock Exchange
2.000% Notes due 2029	EMR 29	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐    

Item 7.01 Regulation FD Disclosure

The following information is furnished pursuant to Regulation FD.

Emerson Three-Month Orders, Including Foreign Currency Translation

(Percentage change versus prior year; trailing three-month averages, excluding acquisitions and divestitures, including currency translation)

 

	June '20	July '20	Aug '20
Automation Solutions	(20)	(20)	(20) to (15)
Commercial & Residential Solutions	(20)	(10) to (5)	0 to 5
Total Emerson	(20)	(20) to (15)	(15) to (10)

Orders Comments

Total Emerson trailing three-month orders were down 12 percent with underlying orders down 11 percent, excluding 1 percent of unfavorable currency impact. 

Automation Solutions orders were down 19 percent and were down 18 percent on an underlying basis excluding unfavorable currency of 1 percent.

Commercial & Residential Solutions orders were up 2 percent and were up 2 percent on an underlying basis with negligible currency impact. 

As expected, August trailing three-month orders reflected a continued challenging demand environment across most automation and commercial markets due to the COVID-19 pandemic and oil market volatility.

However, residential and consumer retail channel demand drove Commercial & Residential Solutions platform orders into positive territory. Further details are furnished in the short slide presentation as Exhibit 99.1.

Upcoming Investor Events 

On Tuesday, November 3, 2020, Emerson will report its fourth quarter 2020 and full year results prior to market open. Emerson senior management will discuss the results during an investor conference call that same day, likely beginning at 3:00 p.m. Eastern Time, 2:00 p.m. Central Time. Participants can access a live webcast available at www.emerson.com/financial at the time of the call. A replay of the call will remain available for 90 days. Additionally, conference call slides will be posted in advance of the call on the website.

Forward-Looking and Cautionary Statements

Statements in this Current Report on Form 8-K and furnished in Exhibit 99.1 that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the scope, duration and ultimate impact of the COVID-19 pandemic as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. Underlying orders discussed herein exclude the impact of currency translation.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit Number	Description of Exhibits
99.1	Slide Presentation - Platform trailing three-month underlying orders detail by world area.
104	Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		EMERSON ELECTRIC CO. (Registrant)
Date:	September 16, 2020	By:	/s/ John A. Sperino
			John A. Sperino Vice President and Assistant Secretary

EX-99.1

Exhibit 99.1 Emerson Orders Update September 16, 2020 Forward-Looking and Cautionary Statements in these slides that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the scope, duration and ultimate impact of the COVID-19 pandemic as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. Underlying orders discussed herein exclude the impact of currency translation. 1

Emerson Underlying Order Trends Trailing 3-Month Average vs. Prior Year 20% 2016 2017 2018 2019 2020 15% 10% Automation Solutions 5% Emerson 0% Commercial & (5%) Residential Solutions 2H Tracking as Expected: Trailing 3M (10%) (20%)- Underlying % Chg. June July Aug (10%) Automation Solutions ~(19%) ~(19%) ~(18%) (15%) Commercial & Resi. ~(19%) ~(7%) ~2% Emerson ~(19%) ~(15%) ~(11%) (20%) Oct-15 Apr-16 Oct-16 Apr-17 Oct-17 Apr-18 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Jun-16 Jun-17 Jun-18 Jun-19 Jun-20 Feb-16 Feb-17 Feb-18 Feb-19 Feb-20 Dec-15 Aug-16 Dec-16 Aug-17 Dec-17 Aug-18 Dec-18 Aug-19 Dec-19 Aug-20 Percentage change versus prior year; underlying trailing three-month averages, excluding acquisitions, divestitures and currency translation Orders data includes the Valves & Controls acquisition results in all periods presented, including on a pro forma basis for periods prior to the acquisition close April 28, 2017. 2

Emerson Automation Solutions Trailing 3-Month Underlying Orders: Down ~18% North America Europe June July August T3M June July August T3M ~(20%) ~(30%) ~(30%) ~(25%) ~(5%) ~(25%) ~(10%) ~(15%) • COVID-19 continues to impact economic recovery and reduce • Slowdown in North Sea orders demand in upstream oil & gas • Some petrochemical and mining investments in Russia • Seeing delays in midstream and downstream projects • Strong renewable orders across the region, especially in Northern • Continued momentum in life sciences, medical devices, and Europe power generation markets • Stable project funnel with most projects planning to move forward Middle East & Africa June July August T3M ~(40%) ~(45%) ~20% ~(25%) • Upstream oil & gas projects slowdown in Saudi Arabia • Downstream projects moving forward across the Gulf region and North Africa Latin America Asia Pacific June July August T3M June July August T3M ~20% ~(25%) ~(30%) ~(15%) flat ~(15%) ~(5%) ~(5%) • Mexico upstream oil & gas and terminal projects deferred • China T3M orders up ~2% • Reduction in mining and power orders vs prior year • Economic recovery in China with active investments in specialty • Somewhat offset by growth in food & beverage in Brazil chemicals, silicon, and lithium battery manufacturing • Demand surge for medical devices and semiconductors • Oil & gas demand continues to be generally weak but stabilizing August Orders Demand Remained Weak Across Most Regions -- While Asia, Led By China, Proving More Resilient 33

Emerson Commercial & Residential Solutions Trailing 3-Month Underlying Orders: Up ~2% North America Europe Jun Jul Aug T3M Jun Jul Aug T3M ~flat ~10% ~10% ~5% ~20% ~(5%) ~5% ~5% • Residential HVAC showing strength, driven by favorable summer • Residential heat pump markets showing continued weather and reduced channel inventories strength • Home improvement channel activity is strong • Commercial HVAC, cold chain and professional tools • Cold chain demand showing some improvement in July and remain weak August • Professional tools improving but still negative Middle East & Africa Jun Jul Aug T3M ~(20%) ~(10%) ~(15%) ~(15%) • Pace of business remains generally weak across professional tools and HVAC businesses Latin America Asia Pacific Jun Jul Aug T3M Jun Jul Aug T3M ~5% ~(40%) ~5% ~(10%) ~(10%) ~(20%) ~(10%) ~(15%) • Some improvement in month over month order trends, but • China T3M orders down ~10% with HVAC showing weakness, still enduring volatility across the region but partially offset by strength in appliance instrumentation • HVAC markets generally weak across the AP region Order Activity Turned Positive in August Driven by US HVAC and Home Improvement Channels, While Commercial End Markets Remain Challenging 44

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