The acquisition of National Instruments (NI) is now referred to as Test & Measurement and reported as a segment in the Software and Control business group. This acquisition is expected to contribute to future growth.

Emerson announced an agreement to acquire all outstanding shares of AspenTech not already owned for $265 per share in cash. This transaction values the minority stake at $7.2 billion and is expected to close in the first half of calendar year 2025.

The company announced it is exploring strategic alternatives, including a cash sale, for its Safety & Productivity segment. This could lead to a significant change in the company's portfolio.

Selling, general, and administrative (SG&A) expenses decreased $53 million year-over-year, reflecting savings from cost reduction actions. This indicates effective management of operating expenses.

The effective tax rate increased to 24% from 9% in the prior year. The prior year rate included a $57 million benefit related to discrete tax items and the impact of inventory step-up amortization.

Emerson maintains a conservative financial structure to provide the strength and flexibility necessary to achieve our strategic objectives and has been successful in efficiently deploying cash where needed worldwide to fund operations, complete acquisitions and sustain long-term growth.

The 10-Q states that the proposed acquisition of AspenTech and the exploration of strategic alternatives for the Safety & Productivity segment may not be completed or may not be completed on the terms and conditions contemplated, or with the expected benefits. This highlights uncertainty surrounding these key strategic initiatives.

The report contains forward-looking statements that are subject to risks and uncertainties, including the proposed acquisition of AspenTech, the Russia-Ukraine conflict, economic and currency conditions, market demand, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, and inflation.

Intelligent Devices sales were up 1 percent, while Software and Control sales were up 3 percent. Underlying sales were up 2 percent on 0.5 percent higher volume and 1.5 percent higher price.

Software and Control sales were up 3 percent compared to the prior year, reflecting strong growth in AspenTech. This indicates a strong competitive position for AspenTech within the Software and Control segment.

Restructuring costs decreased to $11 million from $83 million in the prior year. This suggests improved operational efficiency and reduced restructuring activities.

Selling, general, and administrative (SG&A) expenses decreased, reflecting savings from cost reduction actions. This indicates improved operational efficiency in managing administrative expenses.

The proposed acquisition of the remaining shares of AspenTech signals a commitment to expanding the company's technology portfolio. AspenTech is a global provider of network model management technology and a pioneer in developing model-driven applications supporting open access to data.

The fiscal 2025 outlook assumes returning approximately $3.2 billion to shareholders through approximately $2.0 billion of share repurchases and approximately $1.2 billion of dividend payments.

Cash used in financing activities from continuing operations was $1,291 million, reflecting share repurchases of $899 million and dividends. This indicates a focus on returning capital to shareholders.

Foreign currency translation had a 1 percent unfavorable impact on net sales. This highlights the impact of macroeconomic conditions on the company's financial performance.

Underlying sales were up 1 percent in the U.S. and up 3 percent internationally. The Americas was up 3 percent, Europe was down 2 percent, and Asia, Middle East & Africa was up 4 percent (China down 5 percent).