Emerson Electric · Earnings release · 8-K Exhibit 99

Emerson Reports Third Quarter 2025 Results; Updates 2025 Outlook

ST. LOUIS, Aug. 6, 2025 /PRNewswire/ -- Emerson (NYSE: EMR) today reported results1 for its third quarter ended June 30, 2025 and updated its full year outlook for fiscal 2025. Emerson also declared a quarterly cash dividend of $0.5275 per share of common stock payable September 10, 2025 to stockholders of record on August 15, 2025.

(dollars in millions, except per share)

Change

Underlying Orders2

4%

Net Sales

4%

Underlying Sales3

3%

Pretax Earnings

Margin

Adjusted Segment EBITA4

Margin

0 bps

GAAP Earnings Per Share

Adjusted Earnings Per Share5

6%

Operating Cash Flow

—%

Free Cash Flow

(1)%

Management Commentary

“T1Emerson's solid third quarter results reflect our sustained momentum, delivering strong underlying growth, profitability and cash flow, which we expect to continue as we finish the fiscal year,” said Emerson President and Chief Executive Officer Lal Karsanbhai. “We are experiencing positive momentum in key end markets, and our team's ability to execute in this dynamic environment demonstrates the resilience of our business model and our operational excellence."

Karsanbhai continued, “T2We are taking pivotal steps to advance our industrial software capabilities, launching breakthrough innovations that are transforming how our customers optimize their operations. We deliver value by unlocking productivity and efficiency, and we are seeing accelerated adoption of our digital solutions.”

The following table summarizes the fiscal year 2025 guidance framework. T3Net and underlying sales guidance of ~3.5% growth reflects our updated expectations for pricing actions as the tariff expense exposure has reduced. GAAP EPS is now expected to be ~$4.08 and adjusted EPS guidance is now ~$6.00, an increase versus the previous midpoint. Expectations for operating cash flow and free cash flow increase to ~$3.6B and ~$3.2B, respectively. T4The 2025 outlook assumes returning ~$2.3B to shareholders through $1.1B of share repurchases and ~$1.2B of dividends, unchanged from the prior guidance.

G1Net Sales Growth

G2Underlying Sales Growth

G3Earnings Per Share

Amortization of Intangibles

Restructuring / Related Costs

Acquisition / Divestiture Fees and Related Costs

Discrete taxes related to AspenTech transaction

G4Adjusted Earnings Per Share

Operating Cash Flow

G5Free Cash Flow

1 Results are presented on a continuing operations basis.

Page 2

2 Underlying orders do not include AspenTech.

3 Underlying sales excludes the impact of currency translation, and significant acquisitions and divestitures.

4 Adjusted segment EBITA represents segment earnings less restructuring and intangibles amortization expense.

5 Adjusted EPS excludes intangibles amortization expense, restructuring and related costs, acquisition/divestiture gains, losses, fees and related costs, and discrete taxes.

Conference Call and Upcoming Events

Today, beginning at 6:30 a.m. Central Time / 7:30 a.m. Eastern Time, Emerson management will discuss the third quarter results during an investor conference call. Participants can access a live webcast available at https://ir.emerson.com at the time of the call. A replay of the call will be available for 90 days. Conference call slides will be posted in advance of the call on the company website.

Emerson also announces it will host an investor conference on Nov. 20, 2025 in New York City. Event details will be distributed closer to this date.

About Emerson

Emerson (NYSE: EMR) is a global industrial technology leader that provides advanced automation. With an unmatched portfolio of intelligent devices, controls systems, and industrial software, Emerson delivers solutions that automate and optimize business performance. Headquartered in Saint Louis, Missouri, Emerson combines innovative technology with proven operational excellence to power the future of automation. For more information, visit Emerson.com.

Forward-Looking and Cautionary Statements

Statements in this press release that are not strictly historical may be “forward-looking” statements, which represent management’s expectations, based on currently available information. Actual results, performance or achievements could differ materially from those expressed in any forward-looking statement. Any forward-looking statements in this press release speak only as of the date of this press release. Emerson undertakes no obligation to update any such statements to reflect new information or later developments. Examples of risks and uncertainties that may cause or actual results or performance to be materially different from those expressed or implied by forward looking statements include the scope, duration and ultimate impacts of the Russia-Ukraine and other global conflicts, as well as economic and currency conditions, market demand, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, inflation, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. The outlook contained herein represents the Company's expectation for its consolidated results, other than as noted herein.

Emerson uses our Investor Relations website, https://ir.emerson.com, as a means of disclosing information

which may be of interest or material to our investors and for complying with disclosure obligations under Regulation

FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases,

SEC filings, public conference calls, webcasts and social media. The information contained on, or that may be

accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Investors:

Media:

Colleen Mettler

Joseph Sala / Greg Klassen

Joele Frank, Wilkinson Brimmer Katcher

(tables attached)

Page 3

Table 1

EMERSON AND SUBSIDIARIES

CONSOLIDATED OPERATING RESULTS

(AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)

Quarter Ended

Nine Months Ended June 30,

Net sales

$

$

$

$

Cost of sales

SG&A expenses

Gain on subordinated interest

—

—

—

Loss on Copeland note receivable

—

—

Other deductions, net

Interest expense, net

Interest income from related party1

—

—

Earnings from continuing operations before income taxes

Income taxes

Earnings from continuing operations

Discontinued operations, net of tax

6

7

Net earnings

Less: Noncontrolling interests in subsidiaries

—

Net earnings common stockholders

$

$

$

$

Earnings common stockholders

Earnings from continuing operations

$

$

$

$

Discontinued operations

6

7

Net earnings common stockholders

$

$

$

$

Diluted avg. shares outstanding

Diluted earnings per share common stockholders

Earnings from continuing operations

$

$

$

$

Discontinued operations

Diluted earnings per common share

$

$

$

$

Quarter Ended

Nine Months Ended June 30,

Other deductions, net

Amortization of intangibles

$

$

$

$

Restructuring costs

Other

Total

$

$

$

$

1 Represents interest on the Copeland note receivable through June 6, 2024.

Page 4

Table 2

EMERSON AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(DOLLARS IN MILLIONS, UNAUDITED)

Assets

Cash and equivalents

$

$

Receivables, net

Inventories

Other current assets

Total current assets

Property, plant & equipment, net

Goodwill

Other intangible assets

Other

Total assets

$

$

Liabilities and equity

Short-term borrowings and current maturities of long-term debt

$

$

Accounts payable

Accrued expenses

Total current liabilities

Long-term debt

Other liabilities

Equity

Common stockholders' equity

Noncontrolling interests in subsidiaries

Total equity

Total liabilities and equity

$

$

Page 5

Table 3

EMERSON AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(DOLLARS IN MILLIONS, UNAUDITED)

Nine Months Ended June 30,

Operating activities

Net earnings

$

$

Earnings from discontinued operations, net of tax

(7)

Adjustments to reconcile net earnings to net cash provided by operating activities:

Depreciation and amortization

Stock compensation

Amortization of acquisition-related inventory step-up

—

Gain on subordinated interest

—

Loss on Copeland note receivable

—

Changes in operating working capital

Other, net

Cash from continuing operations

Cash from discontinued operations

4

Cash provided by operating activities

Investing activities

Capital expenditures

Purchases of businesses, net of cash and equivalents acquired

Proceeds from subordinated interest

—

Other, net

Cash from continuing operations

Cash from discontinued operations

—

Cash used in investing activities

Financing activities

Net increase in short-term borrowings

Proceeds from short-term borrowings greater than three months

Payments of short-term borrowings greater than three months

Proceeds from long-term debt

—

Payments of long-term debt

Dividends paid

Purchases of common stock

AspenTech purchases of common stock

—

Purchase of noncontrolling interest

—

Settlement of AspenTech share awards

—

Other, net

Cash provided by (used in) financing activities

Effect of exchange rate changes on cash and equivalents

Decrease in cash and equivalents

Beginning cash and equivalents

Ending cash and equivalents

$

$

Page 6

Table 4

EMERSON AND SUBSIDIARIES

SEGMENT SALES AND EARNINGS

(DOLLARS IN MILLIONS, UNAUDITED)

The following tables show results for the Company's segments on an adjusted segment EBITA basis and are intended to supplement the Company's results of operations, including its segment earnings which are defined as earnings before interest and taxes. The Company defines adjusted segment and total segment EBITA as segment earnings excluding intangibles amortization expense, and restructuring and related expense. Adjusted segment and total segment EBITA, and adjusted segment and total segment EBITA margin are measures used by management and may be useful for investors to evaluate the Company's segments' operational performance.

Quarter Ended June 30,

Reported

Underlying

Sales

Final Control

$

$

7

%

5

%

Measurement & Analytical

3

%

2

%

Discrete Automation

5

%

3

%

Safety & Productivity

(1)

%

(2)

%

Intelligent Devices

$

$

4

%

3

%

Control Systems & Software1

4

%

3

%

Test & Measurement

2

%

(1)

%

Software and Control

$

$

3

%

2

%

Eliminations

Total

$

$

4

%

3

%

Sales Growth by Geography

Quarter Ended June 30,

Americas

7

%

Europe

(7)

%

Asia, Middle East & Africa

2

%

1 T5AspenTech was fully acquired on March 12, 2025 and is now an independent business unit inside of the Control Systems & Software reporting segment.

Page 7

Table 4 cont.

Nine Months Ended June 30,

Reported

Underlying

Sales

Final Control

$

$

4

%

4

%

Measurement & Analytical

2

%

2

%

Discrete Automation

(1)

%

(1)

%

Safety & Productivity

(4)

%

(4)

%

Intelligent Devices

$

$

1

%

1

%

Control Systems & Software

7

%

7

%

Test & Measurement

(2)

%

(2)

%

Software and Control

$

$

4

%

4

%

Eliminations

Total

$

$

2

%

2

%

Sales Growth by Geography

Nine Months Ended June 30,

Americas

5

%

Europe

(4)

%

Asia, Middle East & Africa

3

%

Page 8

Table 4 cont.

Quarter Ended June 30,

Quarter Ended June 30,

As Reported (GAAP)

Adjusted EBITA

(Non-GAAP)

As Reported (GAAP)

Adjusted EBITA

(Non-GAAP)

Earnings

Final Control

$

$

$

$

Margins

%

%

%

%

Measurement & Analytical

Margins

%

%

%

%

Discrete Automation

Margins

%

%

%

%

Safety & Productivity

Margins

%

%

%

%

Intelligent Devices

$

$

$

$

Margins

%

%

%

%

Control Systems & Software

Margins

%

%

%

%

Test & Measurement

Margins

%

%

%

%

Software and Control

$

$

$

$

Margins

%

%

%

%

Corporate items and interest expense, net:

Stock compensation

Unallocated pension and postretirement costs

Corporate and other

Loss on Copeland note receivable

—

—

—

Interest expense, net

—

—

Interest income from related party1

—

—

—

Pretax Earnings / Adjusted EBITA

$

$

$

$

Margins

%

%

%

%

Supplemental Total Segment Earnings:

Adjusted Total Segment EBITA

$

$

Margins

%

%

1 Represents interest on the Copeland note receivable.

Page 9

Table 4 cont.

Quarter Ended June 30,

Quarter Ended June 30,

Amortization of

Intangibles1

Restructuring

and

Related Costs2

Amortization of

Intangibles1

Restructuring

and

Related Costs2

Final Control

$

$

5

$

$

3

Measurement & Analytical

3

2

Discrete Automation

9

8

6

Safety & Productivity

6

1

7

—

Intelligent Devices

$

$

$

$

Control Systems & Software

4

7

Test & Measurement

—

Software and Control

$

$

$

$

7

Corporate

—

6

3

—

3

Total

$

$

$

$

1 Amortization of intangibles includes $49 and $50 reported in cost of sales for the three months ended June 30, 2024 and 2025, respectively.

2 Restructuring and related costs includes $3 and $4 reported in cost of sales and selling, general and administrative expenses for the three months ended June 30, 2024 and 2025, respectively.

3 Corporate restructuring and related costs of $23 for the three months ended June 30, 2025 includes $20 related to integration-related stock compensation expense attributable to AspenTech. Corporate restructuring and related costs of $6 for the three months ended June 30, 2024 includes $5 related to integration-related stock compensation expense attributable to NI.

Quarter Ended June 30,

Depreciation and Amortization

Final Control

$

$

Measurement & Analytical

Discrete Automation

Safety & Productivity

Intelligent Devices

Control Systems & Software

Test & Measurement

Software and Control

Corporate

Total

$

$

Table 5

EMERSON AND SUBSIDIARIES

ADJUSTED CORPORATE AND OTHER SUPPLEMENTAL

(DOLLARS IN MILLIONS, UNAUDITED)

The following table shows the Company's stock compensation and corporate and other expenses on an adjusted basis. The Company's definition of adjusted stock compensation excludes integration-related stock compensation expense. The Company's definition of adjusted corporate and other excludes corporate restructuring and related costs, first year purchase accounting related items and transaction fees, and certain gains, losses or impairments. This metric is useful for reconciling from total adjusted segment EBITA to the Company's consolidated adjusted EBITA.

Quarter Ended June 30,

Stock compensation (GAAP)

$

$

Integration-related stock compensation expense

9

1

2

Adjusted stock compensation (non-GAAP)

$

$

Quarter Ended June 30,

Corporate and other (GAAP)

$

$

Corporate restructuring and related costs

1

3

Acquisition / divestiture costs

Adjusted corporate and other (non-GAAP)

$

$

1 Integration-related stock compensation expense for the three months ended June 30, 2024 relates to NI and includes $5 reported as restructuring costs.

2 Integration-related stock compensation expense for the three months ended June 30, 2025 includes $24 related to AspenTech of which $20 is reported as restructuring costs, and $2 related to NI.

Table 6

EMERSON AND SUBSIDIARIES

ADJUSTED EBITA & EPS SUPPLEMENTAL

(AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)

The following tables, which show results on an adjusted EBITA basis and diluted earnings per share on an adjusted basis, are intended to supplement the Company's discussion of its results of operations herein. The Company defines adjusted EBITA as earnings excluding interest expense, net, income taxes, intangibles amortization expense, restructuring expense, first year purchase accounting related items and transaction fees, and certain gains, losses or impairments. Adjusted earnings per share excludes intangibles amortization expense, restructuring expense, first year purchase accounting related items and transaction-related costs, and certain gains, losses or impairments. Adjusted EBITA, adjusted EBITA margin, and adjusted earnings per share are measures used by management and may be useful for investors to evaluate the Company's operational performance.

Quarter Ended June 30,

Pretax earnings

$

$

Percent of sales

%

%

Interest expense, net

Interest income from related party1

—

Amortization of intangibles

Restructuring and related costs

Acquisition/divestiture fees and related costs

Loss on Copeland note receivable

—

Adjusted EBITA

$

$

Percent of sales

%

%

Quarter Ended June 30,

GAAP earnings from continuing operations per share

$

$

Amortization of intangibles

Restructuring and related costs

Acquisition/divestiture fees and related costs

Loss on Copeland note receivable

—

Adjusted earnings from continuing operations per share

$

$

1 Represents interest on the Copeland note receivable through June 6, 2024

Table 6 cont.

Pretax

Earnings

Income

Taxes

Earnings from

Cont.

Ops.

Non-Controlling

Interests3

Net

Earnings

Common

Stockholders

Diluted

Earnings

Per

Share

As reported (GAAP)

$

$

$

$

—

$

$

Amortization of intangibles

1

—

Restructuring and related costs

2

5

—

Acquisition/divestiture fees and related costs

9

—

Adjusted (non-GAAP)

$

$

$

$

—

$

$

Interest expense, net

Adjusted EBITA (non-GAAP)

$

1 Amortization of intangibles includes $50 reported in cost of sales.

2 Restructuring and related costs includes $4 reported in cost of sales and selling, general and administrative expenses.

3 Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in.

Reconciliations of Non-GAAP Financial Measures & Other

Table 7

Reconciliations of Non-GAAP measures with the most directly comparable GAAP measure (dollars in millions, except per share amounts). See tables 4 through 6 for additional non-GAAP reconciliations.

Reported

(Favorable) / Unfavorable FX

(Acquisitions) /

Divestitures

Underlying

Final Control

7

%

(2)

%

—

%

5

%

Measurement & Analytical

3

%

(1)

%

—

%

2

%

Discrete Automation

5

%

(2)

%

—

%

3

%

Safety & Productivity

(1)

%

(1)

%

—

%

(2)

%

Intelligent Devices

4

%

(1)

%

—

%

3

%

Control Systems & Software

4

%

(1)

%

—

%

3

%

Test & Measurement

2

%

(3)

%

—

%

(1)

%

Software and Control

3

%

(1)

%

—

%

2

%

Emerson

4

%

(1)

%

—

%

3

%

Nine Months Ended June 30, 2025 Underlying Sales Change

Reported

(Favorable) / Unfavorable FX

(Acquisitions) /

Divestitures

Underlying

Final Control

4

%

—

%

—

%

4

%

Measurement & Analytical

2

%

—

%

—

%

2

%

Discrete Automation

(1)

%

—

%

—

%

(1)

%

Safety & Productivity

(4)

%

—

%

—

%

(4)

%

Intelligent Devices

1

%

—

%

—

%

1

%

Control Systems & Software

7

%

—

%

—

%

7

%

Test & Measurement

(2)

%

—

%

—

%

(2)

%

Software and Control

4

%

—

%

—

%

4

%

Emerson

2

%

—

%

—

%

2

%

Underlying Growth Guidance

Guidance

Reported (GAAP)

(Favorable) / Unfavorable FX

-

(Acquisitions) / Divestitures

-

-

Underlying (non-GAAP)

EBIT

EBIT

Margin

Amortization

of

Intangibles

Restructuring and Related Costs

Adjusted Segment EBITA

Adjusted Segment EBITA Margin

Final Control

$

%

$

$

5

$

%

Measurement & Analytical

%

3

%

Discrete Automation

%

9

%

Safety & Productivity

%

6

1

%

Intelligent Devices

$

%

$

$

$

%

Control Systems & Software

%

4

%

Test & Measurement

%

%

Software and Control

$

%

$

$

$

%

EBIT

EBIT

Margin

Amortization

of

Intangibles

Restructuring and Related Costs

Adjusted Segment EBITA

Adjusted Segment EBITA Margin

Final Control

$

%

$

$

3

$

%

Measurement & Analytical

%

2

%

Discrete Automation

%

8

6

%

Safety & Productivity

%

7

—

%

Intelligent Devices

$

%

$

$

$

%

Control Systems & Software

%

7

%

Test & Measurement

%

—

%

Software and Control

$

%

$

$

7

$

%

Total Adjusted Segment EBITA

Pretax earnings (GAAP)

$

$

Margin

%

%

Corporate items and interest expense, net

Amortization of intangibles

Restructuring and related costs

Adjusted segment EBITA (non-GAAP)

$

$

Margin

%

%

Free Cash Flow

($ in billions)

Operating cash flow (GAAP)

$

$

Capital expenditures

Free cash flow (non-GAAP)

$

$

Note 1: Underlying sales and orders exclude the impact of currency translation and significant acquisitions and divestitures.

Note 2: All fiscal year 2025E figures are approximate, except where range is given.