# EDGAR Filing Document

**Accession Number:** 0000032604
**File Stem:** 0000032604-25-000075
**Filing Date:** 2025-8
**Character Count:** 51099
**Document Hash:** 9068ba2af4c04a78baf942596430242b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000032604-25-000075.hdr.sgml**: 20250806

**ACCESSION NUMBER**: 0000032604-25-000075

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250806

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250806

**DATE AS OF CHANGE**: 20250806

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EMERSON ELECTRIC CO
- **CENTRAL INDEX KEY:** 0000032604
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRONIC & OTHER ELECTRICAL EQUIPMENT (NO COMPUTER EQUIP) [3600]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 430259330
- **STATE OF INCORPORATION:** MO
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-00278
- **FILM NUMBER:** 251187312

**BUSINESS ADDRESS:**
- **STREET 1:** 8027 FORSYTH BLVD
- **CITY:** ST LOUIS
- **STATE:** MO
- **ZIP:** 63105
- **BUSINESS PHONE:** 3145532000

**MAIL ADDRESS:**
- **STREET 1:** 8027 FORSYTH BLVD
- **CITY:** ST LOUIS
- **STATE:** MO
- **ZIP:** 63105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EMERSON ELECTRIC MANUFACTUING CO
- **DATE OF NAME CHANGE:** 19730710

?xml version='1.0' encoding='ASCII'? emr-20250806

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**_______________**

**FORM 8-K** 

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15 (d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event

reported): August 6, 2025

Emerson Electric Co.

-------------------------------------------------

(Exact Name of Registrant as Specified in Charter)

---

| | | |
|:---|:---|:---|
| Missouri | 1-278 | 43-0259330 |
| ---------------------------------<br>(State or Other Jurisdiction of Incorporation) | -------------------<br>(Commission | ---------------------------<br>(I.R.S. Employer Identification Number) |
| | File Number) | |

---

---

| | | |
|:---|:---|:---|
| 8027 Forsyth Blvd | 8027 Forsyth Blvd | |
| St. Louis, | Missouri | 63105 |
| ------------------------------------------------<br>(Address of Principal Executive Offices) | ------------------------------------------------<br>(Address of Principal Executive Offices) | ------------------<br>(Zip Code) |

---

Registrant's telephone number, including area code:

(314) 553-2000

------------------------------------------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock of $0.50 par value per share | EMR | New York Stock Exchange |
|  |  | NYSE Texas |
| 1.250% Notes due 2025 | EMR 25A | New York Stock Exchange |
| 2.000% Notes due 2029 | EMR 29 | New York Stock Exchange |
| 3.000% Notes due 2031 | EMR 31A | New York Stock Exchange |
| 3.500% Notes due 2037 | EMR 37 | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

------

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**<u>Item 2.02 Results of Operations and Financial Condition</u>**

<u>Quarterly Results Press Release</u>

On Wednesday, August 6, 2025, a press release was issued regarding the third quarter results of Emerson Electric Co. (the "Company"). A copy of this press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.

References to underlying orders in the press release refer to the Company's trailing three-month average orders growth versus the prior year, excluding currency, and significant acquisitions and divestitures.

<u>Non-GAAP Financial Measures</u>

The press release contains non-GAAP financial measures as such term is defined in Regulation G under the rules of the Securities and Exchange Commission. While the Company believes these non-GAAP financial measures are useful in evaluating the Company, this information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Further, these non-GAAP financial measures may differ from similarly titled measures presented by other companies. The reasons management believes that these non-GAAP financial measures provide useful information are set forth in the Company's most recent Form 10-K filed with the Securities and Exchange Commission and in the press release furnished with this Form 8-K.

<u>Forward-Looking and Cautionary Statements</u>

Statements in the 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 the press release speak only as of the date of the 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.

**<u>Item 9.01 Financial Statements and Exhibits</u>**

(d) Exhibits.

---

| | |
|:---|:---|
| Exhibit Number | Description of Exhibits |
| 99.1 | <u>[Emerson's August](a2025q3release_ex991.htm)[6](a2025q3release_ex991.htm)[, 202](a2025q3release_ex991.htm)[5](a2025q3release_ex991.htm)[press release announcing third quarter results.](a2025q3release_ex991.htm)</u> |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |

---

------

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | EMERSON ELECTRIC CO.<br>(Registrant) | EMERSON ELECTRIC CO.<br>(Registrant) |
| Date: | August 6, 2025 | By: | &nbsp;&nbsp;&nbsp;/s/ John A. Sperino |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John A. Sperino<br>Vice President and<br>Assistant Secretary |

---

## Exhibit 99.1

**Exhibit 99.1**

![emrprlogo2a.jpg](emrprlogo2a.jpg)

**Emerson Reports Third Quarter 2025 Results; Updates 2025 Outlook**

ST. LOUIS, Aug. 6, 2025 /PRNewswire/ -- Emerson (NYSE: EMR) today reported results<sup>1</sup> 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)* | **2024 Q3** | **2025 Q3** | **Change** |
| Underlying Orders<sup>2</sup> |  |  | 4% |
| Net Sales | $4380 | $4553 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Underlying Sales*<sup>3</sup> |  |  | *3%* |
| Pretax Earnings | $455 | $734 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Margin* | *10.4%* | *16.1%* | *570 bps* |
| Adjusted Segment EBITA<sup>4</sup> | $1189 | $1232 |  |
| *&nbsp;&nbsp;&nbsp;&nbsp; Margin* | *27.1%* | *27.1%* | *0 bps* |
| GAAP Earnings Per Share | $0.60 | $1.03 | 72% |
| Adjusted Earnings Per Share<sup>5</sup> | $1.43 | $1.52 | 6% |
| Operating Cash Flow | $1067 | $1062 | —% |
| Free Cash Flow | $975 | $970 | (1)% |

---

**Management Commentary**

"Emerson'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, "We 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."

**2025 Outlook**

The following table summarizes the fiscal year 2025 guidance framework. Net 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. The 2025 outlook assumes returning ~$2.3B to shareholders through $1.1B of share repurchases and ~$1.2B of dividends, unchanged from the prior guidance.

---

| | | |
|:---|:---|:---|
| | **2025 Q4** | **2025** |
| Net Sales Growth | 5.5% - 6.5% | ~3.5% |
| Underlying Sales Growth | 5% - 6% | ~3.5% |
| Earnings Per Share | $1.13 - $1.17 | ~$4.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Amortization of Intangibles* | *~$0.34* | *~$1.34* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Restructuring / Related Costs* | *~$0.10* | *~$0.22* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Acquisition / Divestiture Fees and Related Costs* | *~$0.01* | *~$0.27* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Discrete taxes related to AspenTech transaction* |  | *$0.09* |
| Adjusted Earnings Per Share | $1.58 - $1.62 | ~$6.00 |
| Operating Cash Flow |  | ~$3.6B |
| Free Cash Flow |  | ~$3.2B |

---

<sup>1</sup> Results are presented on a continuing operations basis.

------

<sup>2</sup> Underlying orders do not include AspenTech.

<sup>3</sup> Underlying sales excludes the impact of currency translation, and significant acquisitions and divestitures.

<sup>4</sup> Adjusted segment EBITA represents segment earnings less restructuring and intangibles amortization expense.

<sup>5</sup> 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.

---

| | |
|:---|:---|
| <u>Investors:</u> | <u>Media:</u> |
| Colleen Mettler | Joseph Sala / Greg Klassen |
| (314) 553-2197 | Joele Frank, Wilkinson Brimmer Katcher |
|  | (212) 355-4449 |

---

(tables attached)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | | | **<u>Table 1</u>** |
| EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES |
| CONSOLIDATED OPERATING RESULTS | CONSOLIDATED OPERATING RESULTS | CONSOLIDATED OPERATING RESULTS | CONSOLIDATED OPERATING RESULTS | CONSOLIDATED OPERATING RESULTS |
| (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) | (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) | (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) | (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) | (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) |
|  | Quarter Ended <br>June 30, | Quarter Ended <br>June 30, | Nine Months Ended June 30, | Nine Months Ended June 30, |
|  | Quarter Ended <br>June 30, | Quarter Ended <br>June 30, | Nine Months Ended June 30, | Nine Months Ended June 30, |
|  | 2024 | 2025 | 2024 | 2025 |
| **Net sales** | $4380 | $4553 | $12873 | $13161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost of sales | 2066 | 2160 | 6359 | 6161 |
| &nbsp;&nbsp;&nbsp;&nbsp; SG&A expenses | 1254 | 1266 | 3827 | 3773 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gain on subordinated interest |  |  | (79) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loss on Copeland note receivable | 279 |  | 279 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other deductions, net | 294 | 298 | 1075 | 944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest expense, net | 56 | 95 | 157 | 145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest income from related party<sup>1</sup> | (24) |  | (86) |  |
| **Earnings from continuing operations before income taxes** | 455 | 734 | 1341 | 2138 |
| Income taxes | 88 | 154 | 266 | 536 |
| **Earnings from continuing operations** | 367 | 580 | 1075 | 1602 |
| Discontinued operations, net of tax | (15) | 6 | (88) | 7 |
| **Net earnings** | 352 | 586 | 987 | 1609 |
| Less: Noncontrolling interests in subsidiaries | 23 |  | 15 | (48) |
| **Net earnings common stockholders** | $329 | $586 | $972 | $1657 |
| **Earnings common stockholders** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings from continuing operations | $344 | $580 | $1060 | $1650 |
| &nbsp;&nbsp;&nbsp;&nbsp;Discontinued operations | (15) | 6 | (88) | 7 |
| **Net earnings common stockholders** | $329 | $586 | $972 | $1657 |
| Diluted avg. shares outstanding | 574.8 | 564.7 | 574.1 | 567.1 |
| **Diluted earnings per share common stockholders** |  |  |  |  |
| &nbsp;&nbsp;Earnings from continuing operations | $0.60 | $1.03 | $1.84 | $2.91 |
| &nbsp;&nbsp;Discontinued operations | (0.03) | 0.01 | (0.15) | 0.01 |
| **Diluted earnings per common share** | $0.57 | $1.04 | $1.69 | $2.92 |
|  | Quarter Ended <br>June 30, | Quarter Ended <br>June 30, | Nine Months Ended June 30, | Nine Months Ended June 30, |
|  | Quarter Ended <br>June 30, | Quarter Ended <br>June 30, | Nine Months Ended June 30, | Nine Months Ended June 30, |
|  | 2024 | 2025 | 2024 | 2025 |
| **Other deductions, net** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amortization of intangibles | $264 | $219 | $811 | $677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Restructuring costs | 57 | 37 | 170 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other | (27) | 42 | 94 | 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | $294 | $298 | $1075 | $944 |
| <sup>1</sup> Represents interest on the Copeland note receivable through June 6, 2024. |  |  |  |  |

---

------

---

| | | |
|:---|:---|:---|
| | | **<u>Table 2</u>** |
| EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES |
| CONSOLIDATED BALANCE SHEETS | CONSOLIDATED BALANCE SHEETS | CONSOLIDATED BALANCE SHEETS |
| (DOLLARS IN MILLIONS, UNAUDITED) | (DOLLARS IN MILLIONS, UNAUDITED) | (DOLLARS IN MILLIONS, UNAUDITED) |
|  | **Sept 30, 2024** | **June 30, 2025** |
| **Assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash and equivalents | $3588 | $2219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivables, net | 2927 | 2908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inventories | 2180 | 2288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other current assets | 1497 | 1657 |
| &nbsp;&nbsp;Total current assets | 10192 | 9072 |
| &nbsp;&nbsp;&nbsp;&nbsp; Property, plant & equipment, net | 2807 | 2791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goodwill | 18067 | 18158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other intangible assets | 10436 | 9669 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other | 2744 | 2827 |
| **Total assets** | $**44246** | $**42517** |
| **Liabilities and equity** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-term borrowings and current maturities of long-term debt | $532 | $5953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | 1335 | 1272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 3875 | 3507 |
| &nbsp;&nbsp;Total current liabilities | 5742 | 10732 |
| &nbsp;&nbsp;&nbsp;&nbsp; Long-term debt | 7155 | 8278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 3840 | 3621 |
| **Equity** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common stockholders' equity | 21636 | 19870 |
| &nbsp;&nbsp;&nbsp;&nbsp; Noncontrolling interests in subsidiaries | 5873 | 16 |
| &nbsp;&nbsp;Total equity | 27509 | 19886 |
| **Total liabilities and equity** | $**44246** | $**42517** |

---

------

---

| | | |
|:---|:---|:---|
| | | **<u>Table 3</u>** |
| EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES |
| CONSOLIDATED STATEMENTS OF CASH FLOWS | CONSOLIDATED STATEMENTS OF CASH FLOWS | CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (DOLLARS IN MILLIONS, UNAUDITED) | (DOLLARS IN MILLIONS, UNAUDITED) | (DOLLARS IN MILLIONS, UNAUDITED) |
|  | Nine Months Ended June 30, | Nine Months Ended June 30, |
|  | 2024 | 2025 |
| **Operating activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net earnings | $987 | $1609 |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings from discontinued operations, net of tax | 88 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net earnings to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 1263 | 1139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock compensation | 203 | 198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related inventory step-up | 231 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on subordinated interest | (79) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on Copeland note receivable | 279 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating working capital | (176) | (80) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | (552) | (195) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash from continuing operations | 2244 | 2664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash from discontinued operations | 4 | (576) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash provided by operating activities | 2248 | 2088 |
| **Investing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (251) | (263) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of businesses, net of cash and equivalents acquired | (8342) | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from subordinated interest | 79 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other, net | (86) | (94) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash from continuing operations | (8600) | (393) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash from discontinued operations | 36 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash used in investing activities | (8564) | (393) |
| **Financing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase in short-term borrowings | 2229 | 1419 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from short-term borrowings greater than three months | 322 | 5292 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments of short-term borrowings greater than three months | (100) | (1349) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from long-term debt |  | 1544 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments of long-term debt | (547) | (503) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends paid | (901) | (895) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of common stock | (175) | (1147) |
| &nbsp;&nbsp;&nbsp;&nbsp;AspenTech purchases of common stock | (188) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase of noncontrolling interest |  | (7244) |
| &nbsp;&nbsp;&nbsp;&nbsp;Settlement of AspenTech share awards |  | (76) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other, net | (57) | (60) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash provided by (used in) financing activities | 583 | (3019) |
| &nbsp;&nbsp;&nbsp;&nbsp;Effect of exchange rate changes on cash and equivalents | (20) | (45) |
| **Decrease in cash and equivalents** | **(5753)** | **(1369)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Beginning cash and equivalents | 8051 | 3588 |
| **Ending cash and equivalents** | $**2298** | $**2219** |

---

------

---

| | |
|:---|:---|
| | **<u>Table 4</u>** |
| EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES |
| SEGMENT SALES AND EARNINGS | SEGMENT SALES AND EARNINGS |
| (DOLLARS IN MILLIONS, UNAUDITED) | (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, | Quarter Ended June 30, | Quarter Ended June 30, | Quarter Ended June 30, |
| | 2024 | 2025 | Reported | Underlying |
| **Sales** |  |  |  |  |
| &nbsp;&nbsp;Final Control | $1046 | $1116 | 7% | 5% |
| &nbsp;&nbsp;Measurement & Analytical | 982 | 1014 | 3% | 2% |
| &nbsp;&nbsp;Discrete Automation | 618 | 649 | 5% | 3% |
| &nbsp;&nbsp;Safety & Productivity | 351 | 346 | (1)% | (2)% |
| **Intelligent Devices** | $**2997** | $**3125** | **4%** | **3%** |
| &nbsp;&nbsp;Control Systems & Software<sup>1</sup> | 1043 | 1083 | 4% | 3% |
| &nbsp;&nbsp;Test & Measurement | 355 | 361 | 2% | (1)% |
| **Software and Control** | $**1398** | $**1444** | **3%** | **2%** |
| &nbsp;&nbsp;Eliminations | (15) | (16) |  |  |
| **Total** | $**4380** | $**4553** | **4%** | **3%** |

---

---

| | |
|:---|:---|
| **Sales Growth by Geography** | **Sales Growth by Geography** |
|  | Quarter Ended June 30, |
| Americas | 7% |
| Europe | (7)% |
| Asia, Middle East & Africa | 2% |

---

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

------

**<u>Table 4 cont.</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Nine Months Ended June 30, | Nine Months Ended June 30, | Nine Months Ended June 30, | Nine Months Ended June 30, |
| | 2024 | 2025 | Reported | Underlying |
| **Sales** |  |  |  |  |
| Final Control | $3037 | $3165 | 4% | 4% |
| Measurement & Analytical | 2942 | 2992 | 2% | 2% |
| Discrete Automation | 1863 | 1844 | (1)% | (1)% |
| Safety & Productivity | 1038 | 996 | (4)% | (4)% |
| **Intelligent Devices** | $**8880** | $**8997** | **1%** | **1%** |
| Control Systems & Software | 2940 | 3138 | 7% | 7% |
| Test & Measurement | 1104 | 1079 | (2)% | (2)% |
| **Software and Control** | $**4044** | $**4217** | **4%** | **4%** |
| Eliminations | (51) | (53) |  |  |
| **Total** | $**12873** | $**13161** | **2%** | **2%** |

---

---

| | |
|:---|:---|
| **Sales Growth by Geography** | |
|  | Nine Months Ended June 30, |
| Americas | 5% |
| Europe | (4)% |
| Asia, Middle East & Africa | 3% |

---

------

**<u>Table 4 cont.</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Quarter Ended June 30, | Quarter Ended June 30, | Quarter Ended June 30, | Quarter Ended June 30, |
| | 2024 | 2024 | 2025 | 2025 |
| | As Reported (GAAP) | Adjusted EBITA <br>(Non-GAAP) | As Reported (GAAP) | Adjusted EBITA <br>(Non-GAAP) |
| **Earnings** |  |  |  |  |
| &nbsp;&nbsp;Final Control | $253 | $279 | $267 | $292 |
| &nbsp;&nbsp; *Margins* | *24.2 %* | *26.8 %* | *23.9 %* | *26.2 %* |
| &nbsp;&nbsp;Measurement & Analytical | 252 | 266 | 246 | 259 |
| &nbsp;&nbsp; *Margins* | *25.6 %* | *27.0 %* | *24.2 %* | *25.5 %* |
| &nbsp;&nbsp;Discrete Automation | 109 | 134 | 118 | 132 |
| &nbsp;&nbsp; *Margins* | *17.6 %* | *21.5 %* | *18.2 %* | *20.4 %* |
| &nbsp;&nbsp;Safety & Productivity | 79 | 86 | 73 | 80 |
| &nbsp;&nbsp; *Margins* | *22.5 %* | *24.7 %* | *21.1 %* | *22.9 %* |
| **Intelligent Devices** | $**693** | $**765** | $**704** | $**763** |
|  ***Margins*** | ***23.1*** *%*** | ***25.5*** *%*** | ***22.5*** *%*** | ***24.4*** *%*** |
| &nbsp;&nbsp;Control Systems & Software | 217 | 348 | 267 | 388 |
| &nbsp;&nbsp; *Margins* | *20.8 %* | *33.3 %* | *24.7 %* | *35.9 %* |
| &nbsp;&nbsp;Test & Measurement | (88) | 76 | (26) | 81 |
| &nbsp;&nbsp; *Margins* | *(24.7) %* | *21.4 %* | *(7.2) %* | *22.4 %* |
| **Software and Control** | $**129** | $**424** | $**241** | $**469** |
|  ***Margins*** | ***9.2*** *%*** | ***30.3*** *%*** | ***16.7*** *%*** | ***32.6*** *%*** |
| <u>Corporate items and interest expense, net</u>: |  |  |  |  |
| &nbsp;&nbsp;Stock compensation | (56) | (47) | (71) | (45) |
| &nbsp;&nbsp;Unallocated pension and postretirement costs | 38 | 38 | 27 | 27 |
| &nbsp;&nbsp;Corporate and other | (38) | (24) | (72) | (31) |
| &nbsp;&nbsp;Loss on Copeland note receivable | (279) |  |  |  |
| &nbsp;&nbsp;Interest expense, net | (56) |  | (95) |  |
| &nbsp;&nbsp;Interest income from related party<sup>1</sup> | 24 |  |  |  |
| **Pretax Earnings / Adjusted EBITA** | $**455** | $**1156** | $**734** | $**1183** |
|  ***Margins*** | ***10.4*** *%*** | ***26.4*** *%*** | ***16.1*** *%*** | ***26.0*** *%*** |
| <u>Supplemental Total Segment Earnings:</u> |  |  |  |  |
| **Adjusted Total Segment EBITA** |  | $**1189** |  | $**1232** |
|  ***Margins*** |  | ***27.1*** *%*** |  | ***27.1*** *%*** |
| <sup>1</sup> Represents interest on the Copeland note receivable. | <sup>1</sup> Represents interest on the Copeland note receivable. | <sup>1</sup> Represents interest on the Copeland note receivable. | <sup>1</sup> Represents interest on the Copeland note receivable. | <sup>1</sup> Represents interest on the Copeland note receivable. |

---

------

**<u>Table 4 cont.</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Quarter Ended June 30, | Quarter Ended June 30, | | Quarter Ended June 30, | Quarter Ended June 30, | |
| | 2024 | 2024 | | 2025 | 2025 | |
| | Amortization of <br>Intangibles<sup>1</sup> | Restructuring <br>and <br>Related Costs<sup>2</sup> | | Amortization of <br>Intangibles<sup>1</sup> | Restructuring <br>and <br>Related Costs<sup>2</sup> | |
| &nbsp;&nbsp;Final Control | $21 | $5 |  | $22 | $3 |  |
| &nbsp;&nbsp;Measurement & Analytical | 11 | 3 |  | 11 | 2 |  |
| &nbsp;&nbsp;Discrete Automation | 9 | 16 |  | 8 | 6 |  |
| &nbsp;&nbsp;Safety & Productivity | 6 | 1 |  | 7 |  |  |
| **Intelligent Devices** | $**47** | $**25** |  | $**48** | $**11** |  |
| &nbsp;&nbsp;Control Systems & Software | 127 | 4 |  | 114 | 7 |  |
| &nbsp;&nbsp;Test & Measurement | 139 | 25 |  | 107 |  |  |
| **Software and Control** | $**266** | $**29** |  | $**221** | $**7** |  |
| &nbsp;&nbsp;Corporate |  | 6 | 3 |  | 23 | 3 |
| **Total** | $**313** | $**60** |  | $**269** | $**41** |  |
| <sup>1</sup> Amortization of intangibles includes $49 and $50 reported in cost of sales for the three months ended June 30, 2024 and 2025, respectively. | <sup>1</sup> Amortization of intangibles includes $49 and $50 reported in cost of sales for the three months ended June 30, 2024 and 2025, respectively. | <sup>1</sup> Amortization of intangibles includes $49 and $50 reported in cost of sales for the three months ended June 30, 2024 and 2025, respectively. | <sup>1</sup> Amortization of intangibles includes $49 and $50 reported in cost of sales for the three months ended June 30, 2024 and 2025, respectively. | <sup>1</sup> Amortization of intangibles includes $49 and $50 reported in cost of sales for the three months ended June 30, 2024 and 2025, respectively. | <sup>1</sup> Amortization of intangibles includes $49 and $50 reported in cost of sales for the three months ended June 30, 2024 and 2025, respectively. | <sup>1</sup> Amortization of intangibles includes $49 and $50 reported in cost of sales for the three months ended June 30, 2024 and 2025, respectively. |
| <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. |
| <sup>3</sup> 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. | <sup>3</sup> 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. | <sup>3</sup> 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. | <sup>3</sup> 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. | <sup>3</sup> 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. | <sup>3</sup> 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. | <sup>3</sup> 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, | Quarter Ended June 30, |
| **Depreciation and Amortization** | 2024 | 2025 |
| &nbsp;&nbsp;Final Control | $41 | $39 |
| &nbsp;&nbsp;Measurement & Analytical | 32 | 32 |
| &nbsp;&nbsp;Discrete Automation | 22 | 22 |
| &nbsp;&nbsp;Safety & Productivity | 14 | 15 |
| **Intelligent Devices** | **109** | **108** |
| &nbsp;&nbsp;Control Systems & Software | 148 | 134 |
| &nbsp;&nbsp;Test & Measurement | 150 | 119 |
| **Software and Control** | **298** | **253** |
| &nbsp;&nbsp;Corporate | 10 | 11 |
| **Total** | $**417** | $**372** |

---

------

**<u>Table 5</u>**

---

| |
|:---|
| 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, | Quarter Ended June 30, | Quarter Ended June 30, | |
| | 2024 | | 2025 | |
| **Stock compensation (GAAP)** | $**(56)** |  | $**(71)** |  |
| &nbsp;&nbsp;&nbsp; Integration-related stock compensation expense | 9 | 1 | 26 | 2 |
| **Adjusted stock compensation (non-GAAP)** | $**(47)** |  | $**(45)** |  |

---

---

| | | |
|:---|:---|:---|
| | Quarter Ended June 30, | Quarter Ended June 30, |
| | 2024 | 2025 |
| **Corporate and other (GAAP)** | $**(38)** | $**(72)** |
| &nbsp;&nbsp;&nbsp; Corporate restructuring and related costs | 1 | 3 |
| &nbsp;&nbsp;&nbsp; Acquisition / divestiture costs | 13 | 38 |
| **Adjusted corporate and other (non-GAAP)** | $**(24)** | $**(31)** |
| <sup>1</sup> Integration-related stock compensation expense for the three months ended June 30, 2024 relates to NI and includes $5 reported as restructuring costs. | <sup>1</sup> Integration-related stock compensation expense for the three months ended June 30, 2024 relates to NI and includes $5 reported as restructuring costs. | <sup>1</sup> Integration-related stock compensation expense for the three months ended June 30, 2024 relates to NI and includes $5 reported as restructuring costs. |
| <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. |

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------

---

| | |
|:---|:---|
| | **<u>Table 6</u>** |
| EMERSON AND SUBSIDIARIES | EMERSON AND SUBSIDIARIES |
| ADJUSTED EBITA & EPS SUPPLEMENTAL | ADJUSTED EBITA & EPS SUPPLEMENTAL |
| (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) | (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, | Quarter Ended June 30, |
| | 2024 | 2025 |
| **Pretax earnings** | $**455** | $**734** |
| &nbsp;&nbsp;*Percent of sales* | *10.4 %* | *16.1 %* |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | 56 | 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income from related party<sup>1</sup> | (24) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 313 | 269 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring and related costs | 60 | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition/divestiture fees and related costs | 17 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on Copeland note receivable | 279 |  |
| **Adjusted EBITA** | $**1156** | $**1183** |
| &nbsp;&nbsp;*Percent of sales* | *26.4 %* | *26.0 %* |
|  | Quarter Ended June 30, | Quarter Ended June 30, |
|  | 2024 | 2025 |
| **GAAP earnings from continuing operations per share** | $**0.60** | $**1.03** |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 0.35 | 0.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring and related costs | 0.08 | 0.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition/divestiture fees and related costs | 0.02 | 0.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on Copeland note receivable | 0.38 |  |
| **Adjusted earnings from continuing operations per share** | $**1.43** | $**1.52** |
| <sup>1</sup> Represents interest on the Copeland note receivable through June 6, 2024 | <sup>1</sup> Represents interest on the Copeland note receivable through June 6, 2024 | <sup>1</sup> Represents interest on the Copeland note receivable through June 6, 2024 |

---

------

**<u>Table 6 cont.</u>**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Quarter Ended June 30, 2025 | Quarter Ended June 30, 2025 | Quarter Ended June 30, 2025 | Quarter Ended June 30, 2025 | Quarter Ended June 30, 2025 | Quarter Ended June 30, 2025 | Quarter Ended June 30, 2025 | Quarter Ended June 30, 2025 |
|  | Pretax<br>Earnings |  | Income<br>Taxes | Earnings from<br>Cont. <br>Ops. | Non-Controlling<br>Interests<sup>3</sup> | Net<br>Earnings <br>Common<br>Stockholders | Diluted<br>Earnings<br>Per<br>Share |
| **As reported (GAAP)** | $**734** |  | $**154** | $**580** | $**—** | $**580** | $**1.03** |
| &nbsp;&nbsp;Amortization of intangibles | 269 | 1 | 62 | 207 |  | 207 | 0.37 |
| &nbsp;&nbsp;Restructuring and related costs | 41 | 2 | 5 | 36 |  | 36 | 0.06 |
| &nbsp;&nbsp;Acquisition/divestiture fees and related costs | 44 |  | 9 | 35 |  | 35 | 0.06 |
| **Adjusted (non-GAAP)** | $**1088** |  | $**230** | $**858** | $**—** | $**858** | $**1.52** |
| &nbsp;&nbsp;Interest expense, net | 95 |  |  |  |  |  |  |
| **Adjusted EBITA (non-GAAP)** | $**1183** |  |  |  |  |  |  |
| <sup>1</sup> Amortization of intangibles includes $50 reported in cost of sales. | <sup>1</sup> Amortization of intangibles includes $50 reported in cost of sales. | <sup>1</sup> Amortization of intangibles includes $50 reported in cost of sales. | <sup>1</sup> Amortization of intangibles includes $50 reported in cost of sales. | <sup>1</sup> Amortization of intangibles includes $50 reported in cost of sales. | <sup>1</sup> Amortization of intangibles includes $50 reported in cost of sales. | <sup>1</sup> Amortization of intangibles includes $50 reported in cost of sales. | <sup>1</sup> Amortization of intangibles includes $50 reported in cost of sales. |
| <sup>2</sup> Restructuring and related costs includes $4 reported in cost of sales and selling, general and administrative expenses. | <sup>2</sup> Restructuring and related costs includes $4 reported in cost of sales and selling, general and administrative expenses. | <sup>2</sup> Restructuring and related costs includes $4 reported in cost of sales and selling, general and administrative expenses. | <sup>2</sup> Restructuring and related costs includes $4 reported in cost of sales and selling, general and administrative expenses. | <sup>2</sup> Restructuring and related costs includes $4 reported in cost of sales and selling, general and administrative expenses. | <sup>2</sup> Restructuring and related costs includes $4 reported in cost of sales and selling, general and administrative expenses. | <sup>2</sup> Restructuring and related costs includes $4 reported in cost of sales and selling, general and administrative expenses. | <sup>2</sup> Restructuring and related costs includes $4 reported in cost of sales and selling, general and administrative expenses. |
| <sup>3</sup> Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in. | <sup>3</sup> Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in. | <sup>3</sup> Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in. | <sup>3</sup> Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in. | <sup>3</sup> Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in. | <sup>3</sup> Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in. | <sup>3</sup> Non-Controlling Interests for AspenTech ceased as of March 12, 2025 with the completion of the buy-in. | <sup>3</sup> 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** | **<u>Table 7</u>** |
| 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. | |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **2025 Q3 Underlying Sales Change** | **Reported** | **(Favorable) / Unfavorable FX** | **(Acquisitions) /<br>Divestitures** | **Underlying** |
| &nbsp;&nbsp;&nbsp;Final Control | 7% | (2)% | —% | 5% |
| &nbsp;&nbsp;&nbsp;Measurement & Analytical | 3% | (1)% | —% | 2% |
| &nbsp;&nbsp;&nbsp;Discrete Automation | 5% | (2)% | —% | 3% |
| &nbsp;&nbsp;&nbsp;Safety & Productivity | (1)% | (1)% | —% | (2)% |
| **Intelligent Devices** | **4%** | **(1)%** | **— %** | **3%** |
| &nbsp;&nbsp;&nbsp;Control Systems & Software | 4% | (1)% | —% | 3% |
| &nbsp;&nbsp;&nbsp;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) /<br>Divestitures** | **Underlying** |
| &nbsp;&nbsp;&nbsp;Final Control | 4% | —% | —% | 4% |
| &nbsp;&nbsp;&nbsp;Measurement & Analytical | 2% | —% | —% | 2% |
| &nbsp;&nbsp;&nbsp;Discrete Automation | (1)% | —% | —% | (1)% |
| &nbsp;&nbsp;&nbsp;Safety & Productivity | (4)% | —% | —% | (4)% |
| **Intelligent Devices** | **1%** | **— %** | **— %** | **1%** |
| &nbsp;&nbsp;&nbsp;Control Systems & Software | 7% | —% | —% | 7% |
| &nbsp;&nbsp;&nbsp;Test & Measurement | (2)% | —% | —% | (2)% |
| **Software and Control** | **4%** | **— %** | **— %** | **4%** |
| **Emerson** | **2%** | **— %** | **— %** | **2%** |

---

---

| | | |
|:---|:---|:---|
| **Underlying Growth Guidance** | **2025 Q4 Guidance** | **2025<br>Guidance** |
| Reported (GAAP) | 5.5% - 6.5% | ~3.5% |
| &nbsp;&nbsp;&nbsp;(Favorable) / Unfavorable FX | ~0.5 pts | - |
| &nbsp;&nbsp;&nbsp;(Acquisitions) / Divestitures | - | - |
| **Underlying (non-GAAP)** | **5% - 6%** | **~3.5%** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **2024 Q3 Adjusted Segment EBITA** | **EBIT** | ***EBIT <br>Margin*** | **Amortization<br>of <br>Intangibles** | **Restructuring and Related Costs** | **Adjusted Segment EBITA** | ***Adjusted Segment EBITA Margin*** |
| &nbsp;&nbsp;&nbsp;Final Control | $253 | *24.2 %* | $21 | $5 | $279 | *26.8 %* |
| &nbsp;&nbsp;&nbsp;Measurement & Analytical | 252 | *25.6 %* | 11 | 3 | 266 | *27.0 %* |
| &nbsp;&nbsp;&nbsp;Discrete Automation | 109 | *17.6 %* | 9 | 16 | 134 | *21.5 %* |
| &nbsp;&nbsp;&nbsp;Safety & Productivity | 79 | *22.5 %* | 6 | 1 | 86 | *24.7 %* |
| **Intelligent Devices** | $**693** | ***23.1*** *%*** | $**47** | $**25** | $**765** | ***25.5*** *%*** |
| &nbsp;&nbsp;&nbsp;Control Systems & Software | 217 | *20.8 %* | 127 | 4 | 348 | *33.3 %* |
| &nbsp;&nbsp;&nbsp;Test & Measurement | (88) | *(24.7) %* | 139 | 25 | 76 | *21.4 %* |
| **Software and Control** | $**129** | ***9.2*** *%*** | $**266** | $**29** | $**424** | ***30.3*** *%*** |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **2025 Q3 Adjusted Segment EBITA** | **EBIT** | ***EBIT <br>Margin*** | **Amortization<br>of<br> Intangibles** | **Restructuring and Related Costs** | **Adjusted Segment EBITA** | ***Adjusted Segment EBITA Margin*** |
| &nbsp;&nbsp;&nbsp;Final Control | $267 | *23.9 %* | $22 | $3 | $292 | *26.2 %* |
| &nbsp;&nbsp;&nbsp;Measurement & Analytical | 246 | *24.2 %* | 11 | 2 | 259 | *25.5 %* |
| &nbsp;&nbsp;&nbsp;Discrete Automation | 118 | *18.2 %* | 8 | 6 | 132 | *20.4 %* |
| &nbsp;&nbsp;&nbsp;Safety & Productivity | 73 | *21.1 %* | 7 |  | 80 | *22.9 %* |
| **Intelligent Devices** | $**704** | ***22.5*** *%*** | $**48** | $**11** | $**763** | ***24.4*** *%*** |
| &nbsp;&nbsp;&nbsp;Control Systems & Software | 267 | *24.7 %* | 114 | 7 | 388 | *35.9 %* |
| &nbsp;&nbsp;&nbsp;Test & Measurement | (26) | *(7.2) %* | 107 |  | 81 | *22.4 %* |
| **Software and Control** | $**241** | ***16.7*** *%*** | $**221** | $**7** | $**469** | ***32.6*** *%*** |

---

---

| | | |
|:---|:---|:---|
| **Total Adjusted Segment EBITA** | **2024 Q3** | **2025 Q3** |
| Pretax earnings (GAAP) | $455 | $734 |
| &nbsp;&nbsp;*Margin* | *10.4 %* | *16.1 %* |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate items and interest expense, net | 367 | 211 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 313 | 269 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring and related costs | 54 | 18 |
| **Adjusted segment EBITA (non-GAAP)** | $**1189** | $**1232** |
| &nbsp;&nbsp;*Margin* | *27.1 %* | *27.1 %* |

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| | | | |
|:---|:---|:---|:---|
| **Free Cash Flow** | **2024 Q3** | **2025 Q3** | **2025E<br>($ in billions)** |
| Operating cash flow (GAAP) | $1067 | $1062 | ~$3.6 |
| &nbsp;&nbsp;&nbsp;Capital expenditures | (92) | (92) | ~(0.4) |
| **Free cash flow (non-GAAP)** | $**975** | $**970** | **~$3.2** |

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Note 1: Underlying sales and orders exclude the impact of currency translation and significant acquisitions and divestitures. <br> Note 2: All fiscal year 2025E figures are approximate, except where range is given.

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