Emerson sales down 16%
4th August 2020
USA: The effects of Covid-19 saw Emerson sales down 16% to $3.9bn in the three months to June 30.
Its Commercial & Residential Solutions business, which includes its air conditioning and refrigeration interests, Copeland compressors and Alco controls, saw sales decrease 20%.
Underlying sales in the Americas were down 20%, reflecting a broad-based decline, particularly in commercial end markets. Europe was down 12% as air conditioning weakness more than offset demand in heat pump markets. Finally, Asia, Middle East & Africa was down 18%, with China down 9%.
Order rates varied dramatically during the quarter, from down 35% in April year-over-year, to positive 1% in June.
