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Corporate events
Filed after the FY2026 Q2 call day (May 5, 2026) through the next call day (Aug 4, 2026)From SEC 8-K filings
No 8-K events recorded for this window.
Quarter in detail
· FY2026 Q2
Macro Signals
↑Enterprise Spending↓Supply Chain→Trade & Tariffs
Emerson delivered 5% underlying sales growth and adjusted EPS of $1.54 in Q2, with growth verticals surging 22% driven by power and T&M exceeding expectations at 12%. Software ACV grew 9% supporting the 10%+ target, and backlog rose 9% supporting second-half acceleration. The Middle East conflict disrupted sales and operations, and China weakness deepened on chemical overcapacity, but management raised EPS guidance to $6.45-$6.55 despite the revenue headwinds.
Key Themes7
negative📊 company
Middle East Conflict Disrupts Sales And Operations
The Middle East conflict caused a 1-point impact on underlying sales, with approximately $50 million in revenue disruption in Q2. Manufacturing was shut down temporarily and field service engineers operated at less than 50% of pre-conflict levels in March. An additional $100 million of disruption is expected in the second half.
Supply ChainGeographic Expansion
positive📊 company
Growth Verticals Drive 22% Revenue Increase
Growth verticals grew 22% in Q2, led by power up 23%. Project funnel grew to $11.2 billion driven by new power opportunities. Won approximately $450 million from the project funnel, with 85% from growth verticals led by power, life sciences, and LNG.
Revenue GrowthDemand
positive📊 company
Test And Measurement Exceeds Expectations At 12%
Test and Measurement grew 12% year over year, exceeding expectations. Strength led by semiconductors and aerospace and defense. Full-year growth expectations raised to low teens from prior high single-digit guidance.
Revenue GrowthInnovation & R&D
positive📊 company
Software ACV Growth Of 9% Supports 10%+ Target
Annual contract value grew 9% year over year to $1.64 billion. Full-year ACV growth still expected at 10% plus. Software renewal dynamic caused a 2-point Q2 sales headwind and 90 basis points of margin drag, but this timing effect reverses.
Cloud & AISubscriber Growth
negative🌍 macro
China Weakness Deepens On Chemical Overcapacity
China declined 9% in Q2 driven by overcapacity in the chemical industry. Full-year China expectations lowered to down mid-single digits from prior low-single-digit decline. The chemical industry continues to be over-capacitized and weak in terms of spend.
MacroeconomicDemand
positive📊 company
EPS Guidance Raised Despite Revenue Headwinds
Adjusted EPS guide raised to $6.45 to $6.55 per share with bottom and midpoint increased. Adjusted segment EBITDA margin of 27.6% exceeded expectations. Price/cost discipline and cost reductions more than offset inflation, with margins benefiting from favorable segment and geographic mix.
Guidance ReliabilityMargin
positive📊 company
Backlog Up 9% Supports Second-Half Acceleration
Backlog ended at $8.2 billion, up 9% year over year, with book-to-bill of 1.07. Second-half growth supported by backlog phasing and product shipment timing, with strength in the U.S. and growth verticals offsetting slower China.
FY2026 Q2 selectedReported GAAP figures from SEC filings
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Quarter
Revenue
Rev YoY
EPS
EPS YoY
Gross margin
Net margin
FCF
FY2024 Q4
$4.62B
+12.9%
$1.73
+41.8%
51.3%
21.6%
$916M
FY2025 Q1
$4.17B
+1.4%
$1.02
+313.5%
53.5%
14.0%
$694M
FY2025 Q2
$4.43B
+1.3%
$0.86
-1.7%
53.5%
10.9%
$154M
FY2025 Q3
$4.55B
+3.9%
$1.04
+81.7%
52.6%
12.9%
$977M
FY2025 Q4
$4.86B
+5.1%
$1.12
-35.3%
51.9%
13.1%
$842M
FY2026 Q1
$4.35B
+4.1%
$1.07
+4.5%
53.2%
13.9%
$602M
FY2026 Q2Selected
$4.56B
+2.9%
$1.10
+28.2%
53.1%
13.5%
$694M
FY2026 Q3
$4.87B
+7.0%
$1.28
+23.1%
54.5%
14.7%
$1.32B
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“Adjusted earnings per share was $1.54, a 4% increase year over year”
Revenue
Has the dial changed post–Middle East as to where downstream CAPEX goes or chemical CAPEX goes?
“we are raising the bottom and midpoint of our adjusted EPS guide, now expecting $6.45 to $6.55 per share”
Key metric
“annual contract value of our software grew 9% year over year and ended the quarter at $1.64 billion”
Top analysts & firms
All analyzed callsNot limited to the selected quarter · analysts and firms with 2 or more questions
What does “challenging” mean?
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Most active analysts
Analyst
Firm
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
What EMR and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
Companies EMR discussed
3 mentions
NextDecadenot trackedFY2026 Q2Customer
“Emerson Electric Co. was chosen by NextDecade for the Train 4 and 5 expansion to the 12 million tons per annum in capacity.”
NextDecade is expanding LNG capacity (Train 4 and 5) and selected Emerson to supply instruments, valves and analytical systems, signaling continued LNG buildout.
Encorenot trackedFY2026 Q2Customer
“Emerson Electric Co. was selected by Encore, the largest electric delivery company in Texas, to enable the delivery of reliable power to more than 13 million residents.”
Encore, a Texas electric delivery utility, is investing to modernize and scale its distribution grid using AspenTech DGM to prepare for growing Texas demand.
Aramconot trackedFY2026 Q2Customer
“Emerson Electric Co. recently deployed an AI-driven optimization solution for Aramco, one of the world’s leading integrated energy and chemicals companies.”
Aramco is an Emerson customer, deploying Emerson's Aspen Hybrid Models across its refinery planning network in one of the world's largest multisite optimization models.
CompanyFiscal year ends SepMost recent earnings call: Aug 4, 2026 (FY2026 Q3)Est. next earnings call: Nov 4, 2026
6/ 10
FY2026 Q2Mixed−2.0 vs FY2026 Q1Default view · newest free
Calendar quarter Q1 2026Earnings call May 5, 2026
FY2026 Q2 in brief
Emerson delivered 5% underlying sales growth and adjusted EPS of $1.54 in Q2, with growth verticals surging 22% driven by power and T&M exceeding expectations at 12%.
NegativeMiddle East Conflict Disrupts Sales And Operations
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
10%
Share price · trailing year
daily closes, last 12 months — not scoped to the selected quarter · dots mark earnings calls, colored by that quarter’s score
Sources.Tellvest earnings-call sentiment score for Emerson Electric (EMR), FY2026 Q2: 6/10. Scores: Emerson Electric’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: EMR daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Quarter
company-level, not the selected quarter
GAAP revenue YoY +2.93% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
▸How this score was built
Base5Base 5GAAP revenue YoY +2.93% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue is clean, no structural distortion. The software contract renewal dynamic is a timing issue within the quarter but does not distort GAAP revenue recognition. Middle East conflict impact is real lost revenue, not an accounting artifact. Gap between GAAP (2.93%) and management-stated underlying (5%) is approximately 2 percentage points, below the 3 percentage points threshold for Tier 1.+EPS0EPS 0Serial acquirer (AspenTech/NI). GAAP EPS YoY +28.24% vs adjusted EPS YoY +4%, gap 24 percentage points > 5 percentage points threshold. Adjusted EPS spread = 4.0% - 2.93% = +1.07 percentage points (inside ±5 percentage points). GAAP operating income YoY -7.68%, operating income spread = -7.68 - 2.93 = -10.61 percentage points (outside -5 percentage points), but GAAP OI is contaminated by acquisition intangible amortization from AspenTech/NI acquisitions. Adjusted segment EBITDA margin of 27.6% exceeded expectations, confirming operational performance. Using adjusted EPS per serial acquirer rule → EPS adjustment = 0.+Guidance+1Guidance +1EPS guide bottom and midpoint raised: prior $6.40-$6.55 (mid $6.475), new $6.45-$6.55 (mid $6.50). Change: (6.50 - 6.475) / 6.475 = +0.39%, raise <3%. Revenue underlying growth guide lowered from ~4% to ~3% due to Middle East conflict, but EPS raised through it, demonstrating margin discipline.=Final6
How this score was built
Base5Base 5GAAP revenue YoY +2.93% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue is clean, no structural distortion. The software contract renewal dynamic is a timing issue within the quarter but does not distort GAAP revenue recognition. Middle East conflict impact is real lost revenue, not an accounting artifact. Gap between GAAP (2.93%) and management-stated underlying (5%) is approximately 2 percentage points, below the 3 percentage points threshold for Tier 1.
164.38
123.30
8
8
6
Oct 25Oct 26
+
EPS0EPS 0Serial acquirer (AspenTech/NI). GAAP EPS YoY +28.24% vs adjusted EPS YoY +4%, gap 24 percentage points > 5 percentage points threshold. Adjusted EPS spread = 4.0% - 2.93% = +1.07 percentage points (inside ±5 percentage points). GAAP operating income YoY -7.68%, operating income spread = -7.68 - 2.93 = -10.61 percentage points (outside -5 percentage points), but GAAP OI is contaminated by acquisition intangible amortization from AspenTech/NI acquisitions. Adjusted segment EBITDA margin of 27.6% exceeded expectations, confirming operational performance. Using adjusted EPS per serial acquirer rule → EPS adjustment = 0.
+
Guidance+1Guidance +1EPS guide bottom and midpoint raised: prior $6.40-$6.55 (mid $6.475), new $6.45-$6.55 (mid $6.50). Change: (6.50 - 6.475) / 6.475 = +0.39%, raise <3%. Revenue underlying growth guide lowered from ~4% to ~3% due to Middle East conflict, but EPS raised through it, demonstrating margin discipline.
Dover opened 2026 with double-digit revenue growth (GAAP revenue +10.05% year over year) and adjusted EPS of $2.28, up 11%, driven by secular-growth end markets, acquired company performance and constructive demand across the portfolio