Emerson Electric Stock Soars on Strong Earnings, AspenTech Buyout Bid [Video]

Emerson Electric (EMR) shares surged 7% on Tuesday, securing one of the top performances in the S&P 500, after the provider of automation equipment, industrial software, and engineering products reported strong sales and profit for its fiscal fourth quarter.

Emerson also announced a proposal to buy the remaining stake of industrial software company Aspen Technology (AZPN), reflecting Emerson’s strategic focus on the industrial automation market.

Emerson’s net sales for the recently completed quarter came in at roughly $4.6 billion, up roughly 13% year-over-year. Earnings per share (EPS) of $1.48 for the fiscal fourth quarter grew 15% from the year-ago period.

Both figures exceeded analysts’ consensus forecasts. Growth in the Intelligent Devices and Software and Control segments helped drive the strong performance.

Emerson’s chief executive officer (CEO) touted the successful integration of the company’s test and measurement systems assets, highlighting $100 million in synergiesover the first year. The company enhanced this …