Emerson discloses 3-month orders growth data; Apr -15%
"Trailing three-month orders decreased 15 percent as monthly orders continue to reflect the drop in oil prices, a global slowdown in capital spending, most notably in energy-related markets, and significant strength in the U.S. dollar, which deducted 7 percentage points through currency translation. In line with the Company's comments on its May 5th conference call, underlying orders were down high single digits reflecting slow market conditions in all segments. Based upon these trends, the Company expects third quarter underlying sales to be slightly negative compared to the prior year, excluding unfavorable currency of approximately 6 percent and an impact from divestitures of approximately 2 percent. Reported sales for the third quarter are expected to decrease up to approximately 10 percent."