CLAIM #22674 · EMR (EMR) · 2024Q1 earnings call · Feb 7, 2024 · due Sep 30, 2024
“And we expect to continue to win in China as we go through the year.”
Lal Karsanbhai · CEO
In context
“question, I joined a bit late, so I apologize if you've covered this, on China. A lot of anxiety about the macro there. It doesn't look like you're positioned in the areas that -- like real estate that are having the most pressure. But just what are the expectations? What are the opportunities over the near term? Lal Karsanbhai: Yes. We grew high single digits in the quarter in China sales. We expect in that high -- mid- to high single digits for the year. Our business continues to be relatively robust, again, aligned, Deane, to those same macro secular drivers that we're seeing globally. It's no different in China. Perhaps the end markets are slightly different, specialty chemicals and a few other things. But our position is very strong. Our regionalization strategy has been very strong. And we expect to continue to win in China as we go through the year. Ram, anything? Ram Krishnan: Yes. No, you said it. I think in our core process hybrid business, power and chemical will drive the growth. I mean, obviously, what's not in the underlying numbers is test and measurement. Test and measurement is consistent with discrete. Off to a tougher start in China, but expecting a second half recovery, consistent with what we're seeing with the discrete business. Deane Dray: Thank you. Operator: The next question comes from Joe O'Dea from Wells Fargo. Please go ahead. Joe O’Dea: Hi, good morning. Just in terms of the remaining 9 months of the year and the guide, obviously off to a strong start. But organically, any change in how you're thinking about that versus 3 months ago? It seems like not much change in what's implied in the organic growth rate. If”
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SEC filings for EMR ↗ · Claim quote is verbatim from the 2024Q1 earnings call.