Name: Emerson Electric Co. (NYSE:EMR) | Analysis of Revenues
Creator: Stock Analysis on Net

Analysis of Revenues

Revenues as Reported

Revenues as Reported

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Emerson Electric Co., income statement, revenues

US$ in millions

12 months ended:	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015	Sep 30, 2014
Measurement & Analytical Instrumentation	3,807)	3,604)	3,070)	3,137)	3,619)	—)
Valves, Actuators & Regulators	3,794)	3,769)	2,668)	2,137)	2,559)	—)
Industrial Solutions	2,232)	1,947)	1,680)	1,621)	1,779)	—)
Process Control Systems & Solutions	2,369)	2,121)	2,000)	2,082)	2,196)	—)
Automation Solutions	12,202)	11,441)	9,418)	8,977)	10,153)	—)
Climate Technologies	4,313)	4,454)	4,212)	3,944)	4,006)	—)
Tools & Home Products	1,856)	1,528)	1,645)	1,611)	1,625)	—)
Commercial & Residential Solutions	6,169)	5,982)	5,857)	5,555)	5,631)	—)
Divested businesses	—)	—)	—)	—)	477)	—)
Eliminations/Interest	1)	(15)	(11)	(10)	(12)	—)
Sales	18,372)	17,408)	15,264)	14,522)	16,249)	—)

Based on: 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30).

Total sales exhibited a V-shaped recovery and subsequent growth trajectory between 2015 and 2019. After a decline from 16,249 million US dollars in 2015 to 14,522 million US dollars in 2016, revenues grew consistently over the following three years, reaching 18,372 million US dollars by September 30, 2019.

Automation Solutions Performance: This segment represents the primary driver of total revenue, contributing 12,202 million US dollars in 2019. While the segment experienced a contraction in 2016, falling to 8,977 million US dollars, it demonstrated strong recovery and acceleration, growing by approximately 35% between 2016 and 2019.
Valves, Actuators and Regulators Dynamics: Significant volatility and subsequent growth are observed within this sub-segment. Revenues dropped to a period low of 2,137 million US dollars in 2016 before surging to 3,794 million US dollars by 2019, marking one of the most aggressive growth patterns among all business lines.
Industrial Solutions and Process Control: Industrial Solutions showed a steady upward trend, increasing from 1,621 million US dollars in 2016 to 2,232 million US dollars in 2019. Process Control Systems and Solutions remained relatively stable, recovering from 2,000 million US dollars in 2017 to 2,369 million US dollars by the end of the period.
Commercial and Residential Solutions Performance: This segment maintained a more stable and conservative growth profile compared to Automation Solutions. Revenue increased incrementally from 5,631 million US dollars in 2015 to 6,169 million US dollars in 2019. Growth within this segment was primarily supported by the Commercial and Residential Solutions consolidated line, while Climate Technologies remained relatively flat, ending 2019 at 4,313 million US dollars.
Tools and Home Products Trends: Revenue in this category remained stagnant between 2015 and 2018, hovering around 1,600 million US dollars, before experiencing a notable increase to 1,856 million US dollars in 2019.

The revenue composition indicates an increasing reliance on the Automation Solutions segment, which expanded its share of total sales over the analyzed period. The impact of divested businesses was only present in 2015, and eliminations remained immaterial to the overall financial results.

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