Haier

Emerson sales down 16%

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. –Cooling Post

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