You're going to be close to 30%? And so, all these things are very, very important to me as we go in and spend our time every day here in the office. So, we see these as a proxy. Thank you, David, and good morning. We saw tens of thousands of our own employees leap into a work-from-home mode and it's been amazing watching Emerson team deal with the sudden new reality and come through in every aspect. So a bit of a flip-flop. A lot of work goes into this. You look at over 30 million unemployed people in the United States, let alone the people [Indecipherable], and let alone the people that are pretty holed up in their homes right now that don't want to come out. So, it's another hand tied behind your back here. Is that all driven by just changes in the portfolio or are there other assumptions from a macro perspective embedded there as well? The bottom had already sort of collapsed last year. Emerson is a well-managed, financially strong and highly focused enterprise with a history of delivering total shareholder return and 63 consecutive years of increasing dividends. We got them devices to them and helps to preserve the product as it came across to the US. And then, yesterday, we had the audit committee meeting. I know we have some China conversation coming up, which may be important in thinking through how things play out over the next few quarters. I'll answer first and let Lal answer this too. It's helpful, guys. Yeah, I absolutely agree. That we'll see accelerate and return very quickly as people are allowed back on site and we should see the benefit of that. We will book $38 million per month in April -- in the month of April. So, I think -- don't underestimate this. Or are there any other geographies that are hanging in there better than China? And to help you bridge between the February meeting and what we see today as a business, we had approximately $135 million that we booked out of the funnel since February. This quarterly report represents an earnings surprise of … Just thinking about the fact that most of the restructuring spend has been focused on AS. I think that, right now, we started -- the team started working extremely hard about March 10. And many of you know that I started making moves with the team to move some production out of China and diversify it more around the world. And you can see now, as the COVID effect has carried through into Europe and US and other places, the second half changes significantly. So, I think this is going to be quite dramatic. So, we're trying to communicate to our board to get their inputs. I've already given you the color around what's happening with quotation rates. Trailing three-month underlying orders were down 1%, driven by the early quarter relative strength of the longer cycle businesses, Final Control and Systems, which grew 3% and 7% respectively. And I think that's what business people will tell you. And we -- both of us, both Lal and Bob, we're talking from a customer's input. The Chile copper mining and Peru gold mining continue to be bright spots. Our rest of business, we've continued to diversify on, and both Lal and Bob will talk a little bit about this. So, very broad set of offerings that support the response that's occurring around the world. We are providing our own employees with surgical masks, cloth masks and other things. Starting in drug development, I've already mentioned a major pharmaceutical bio firm announced a significant expansion recently. We have essentially professionalized our MRO strategy since 2011 when we added significant focus to this program and have subsequently expanded KOB3 as a percent of total sales by 20 points. Certainly, key leading in was obviously China. One of the most fundamental differences in our business today versus prior cycles is our KOB3 position. I think you're going to see -- the only laggard we see probably early on will be the liquids side on the new contract -- the new business. Just a simple question. Earnings Emerson Radio (NYSEAMERICAN:MSN) Earnings Information. Automation Solutions underlying sales finished down 8% for the quarter as sharp declines in oil and gas more than offset some growth in life sciences and food and beverage. And they came in structurally. I'll leave it there. EMR - Free Report) came out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.76 per share. And with a few exceptions, our states and cities have aligned on this guidance. I think you're part of the industrial working group. Gross profit drove the 0.9 points of adjusted EBITDA improvement. And, obviously, as we've seen in every other structure time like this, our liquid business will be less and our other business will be higher. And we've communicated constantly to our employees, so they know what's going on. How much of these cost saves -- I think you said $46 million of the cost saves have been booked kind of in the first half. The next question comes from Andrew Obin from Bank of America. Just very quickly. The North Sea has been depressed for a long time. Now, will there be some changes? Both businesses are using this opportunity to really evaluate, 'Okay, how do we set the cost structure even stronger for us going forward, looking at layers, looking at organizations and what do we really need to do relative to the organization to make sure we win, but also have the right cost structure?' We were down 8%, as we pointed out. And then, conversely, how much concern do you have about being a big industrial player in China if we do have more call for nationalism over the next couple of years? What we learned in China from our facilities, obviously, we're using from a safety standpoint, other facilities around the world. Emerson Electric Co.’s EMR second-quarter fiscal 2020 (ended Mar 31, 2020) adjusted earnings of 89 cents per share beat the Zacks Consensus Estimate of 77 cents. And, David, to your point around gas, you're absolutely right. This includes Branson ultrasonic welders that David highlighted at the outset for medical PPE, ASCO medical regulators for applications such as ventilators and oxygen therapy machines, pneumatic controls for lateral turning mattresses on intensive care beds. Cumulative Growth of a $10,000 Investment in Stock Advisor, Emerson Electric Co (EMR) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $EMR, Forget Fuel Cell Stocks: Here Are 3 Better Clean Energy Plays to Buy, Emerson Electric Co (EMR) Q4 2020 Earnings Call Transcript, 3 Underappreciated Value Stocks to Buy in October, This Industrial Stock Is a Great Buy for Dividend Investors, Emerson Electric Co (EMR) Q3 2020 Earnings Call Transcript, Copyright, Trademark and Patent Information. I need to highlight the guidance that the Department of Homeland Security issued on critical infrastructure and essential services. I ran the process business back in 1996, 1997 when we had the financial crisis of Asia and the price of oil went below $10. Can certainly appreciate the slide that Lal put together, the amount of KOB3 that's now in the portfolio. Q2 ended very differently than what we thought, starting with China downturn in February, a delayed coming out of Chinese New Year, and then going into March as we'll talk about. It's not going to go to zero. So, nobody wants to release orders until they're getting paid by their customers, and our channel is in that same condition as well. Today, 80% of our -- we have non-oil and gas end markets. So, we're just making some tough choices right now on positions that we hope to at least be able to work -- have without for at least a year or so to get the payback on it. He's a book and ship company. It's in a different world. So, built into the plan, just to kind of reset, we spent $112 million in the first half. Lal was way off what he thought it was originally. Darius and I actually talked several times on this issue to make sure they got equipment. And since there is no golf going on, I basically spend 10 hours a day at the office and I go home and walk for about an hour and a half every night with my wife and then I start thinking about things and I get back to the office. They came to us in early February long -- and basically saying we need to start taking action. Two videos. Good morning. Emerson Electric Co. has confirmed Earnings date and time. And then, certainly, price cost is always a big factor for us. Operating cash flow was up 7 percent to $533 million. I guess on top of that, I think you have your president of safety in attendance, if that's right? Emerson is a well-managed, financially strong and highly focused enterprise with a history of delivering total shareholder return and 64 consecutive years of increasing dividends. So, it's that that we're focused on. Shares are up 20.7% since reporting last quarter. We have the capacity to fund all of our internal needs and our dividend despite the fact that we, as you just saw, expect reduced operating cash flow over the next several quarters. And I appreciate that. How do you think about the structural changes that you're seeing on that piece and what that means for the AS segment over time? And frankly, we've done a lot of work to give away a lot of these things initially, particularly N95 and KN95 masks, which are basically the Chinese standard of the N95 masks. And I expect our orders when we come back in, we'll see that our orders are probably around that 14%, 15% in the month of April. We are very strong. March was a bit better, down 19%. Josh, this one's a lot faster. And I wouldn't say it's really part of the peak plan. So, Mike, I'm turning it over to you. But I look forward to seeing everybody and I look forward to seeing what unfolds here in the coming months. The predominant additions were MODEC FPSOs, three ships; Asia petrochemical jobs, predominantly in China; and BHP job in the Gulf of Mexico. Very focused on that. You were fixing yourself some dinner? Downstream, refiners are continuing production as well. Things do get better for us sequentially into Q4 from a deleverage perspective, and we fall back into the 20s on a pure EBIT basis, which is more normalized. The major reductions, as I said, were North America, predominantly privately funded LNG jobs. The best cost. That's an LNG job. So, we're in very, very good shape if there should be a market disruption. I see the same thing happen in Asia, in the Middle East -- not Asia, South and Middle East and also in Europe. And the reason -- this one's a lot faster. Dine kontrolfunktioner til beskyttelse af private oplysninger, Oplysninger om din enhed og internetforbindelse, herunder din IP-adresse, Browsing- og søgeaktivitet ved brug af websites og apps fra Verizon Media. However, in this, both are grappling with that fundamental lack of demand, Mike, as you pointed out. But then, as you can see again, Q2 changed substantially. But right now, the trend line is dropping quite rapidly. We're living it daily. This compares to earnings of $0.84 per share a year ago. Orders were down 0.8 point in Q2 versus the 2.3% plan and will weaken and trough in Q3 and stay negative for five consecutive quarters, as we have modeled the next four quarters. So, I'm very negative on the US growth model. Turning to the Middle East. But they're obviously higher now because we have more savings and we're trying to accelerate. We've learned a lot from how this isolation and how we go about this and how we work together, both from a company standpoint and a geopolitical standpoint. And there are no financial covenants in the revolver. We're going to watch it very closely, but we feel pretty good about our ability to do everything we need to do as we go through this downturn. The other world areas, Europe, Asia and Middle East, will exceed their plans, but the Americas particularly, will be challenged therein. I think Europe and those guys will probably fall off sooner, and it's going to be a tough one. Michael Train -- President, and Chairman, Emerson Automation Solutions. I'm evaluation an organization, which ones are rising to these challenges, which ones have the right stuff and which ones are bunkering. So, I just wanted to ask about margins in the second half of the year. We removed $203 million out of the funnel. But we've done a lot of work here, thinking about what our investors would like to know about what's going on inside Emerson and what we see day-to-day, which clearly is fluid, but we as a team are working very quickly to react to this. Yeah, I just wanted to kind of nail down kind of the quarterly sequencing because you gave the third quarter and the fourth quarter. As you look at the underlying sales growth, as the OSE -- and we held WebExes around the world with all of our key leaders around the world over the last several weeks -- in fact, the last 45 days -- as we lived together here. Early days were a bit rugged as suppliers took some time to get cleared to restart. I'd like to turn to a segment of our business that has significantly accelerated through this challenging time -- our medical and life science business, which will be close to $550 million in 2020 sales, growing double-digit. Have you found your definition of what low-cost facilities are in this environment, given this fracturing of global supply chains that people talk about? And virtual meetings are taking place across the region and we have significant digital transformation wins as well. David, thank you. Q3 Earnings for Jul, Aug & Sep Tue, Nov 3, 2020 Since Q3 Earnings Report EMR 20.4%. Underlying sales growth was well below expectations, down 7%, driven by the dramatic drop in global demand as the COVID-19 pandemic quickly spread in March. We have reduced our full-year sales plan by approximately $1.8 billion from prior year, resulting in a $0.57 headwind. But again, I want to thank Frank and the work of the finance committee. GAAP earnings per share were flat and adjusted earnings per share were up 7% to $0.89, driven primarily by lower stock compensation costs due to a lower stock price and aggressive restructuring actions started in Q3 of last year starting to take effect. You could be passing stuff through this phone right now. This team has been around a long time. They've come in quite a bit since then. And as a result, we have very good liquidity in our capital structure. So, Mike, I think you're right. We are properly spread out, as you guys know, in this office complex. Our cargo solutions business, that device that you see keeps the temperature tracking and it also transmits cellular, so it can transmit the conditions in a shipment. So, overall, we are only down 3%, Automation Solutions only down 1%. I think you're going to see a structural change in the power industry. Steve has organized this right now. I think the companies that are very international will have that benefit. I'm just curious like where you stand today month-to-date or quarter-to-date versus that number. This quarter, what's happened is, obviously, with the stock dropping dramatically, a lot of wealth has been locked off of our shareholder base, including people like me and Frank and Bob and Lal. Where you hiding? And then, how much do you have visibility on for 2021? I heard it yesterday out of Washington. So, from my perspective, the push forward is trying to get the economy open and get business open. Oh, OK. And he'll get dollar-for-dollar savings over pretty quickly on that. And that's how we're factoring into. And from a prioritization standpoint, we're basically saying that the medical community needs the N95s more than us. Hopefully, we'll be able to see everybody. Emerson (NYSE: EMR) today reported results for the fourth quarter and fiscal year ended Sept. 30, 2019. We also have about 15 other executives throughout the floor. We're going to deleverage at around 30% order of magnitude. Obviously, on the facility rationalization, it is dependent on us building the best cost sites, so that we can execute some of those plants. And perhaps, Bob can amplify some of those comments, what's embedded in your guidance as we roll it out going forward? I will hand the call over to Mr. Frank Dellaquila and Mr. Mike Train to discuss liquidity and operations. We're structuring a completely different cycle for each of the world areas based on historical norms and based on what we're seeing from our customer base right now. $700 million? A billion something in the third quarter sales? And certainly under ideal conditions, if you will, or under the right conditions, perhaps even turning positive in the fourth quarter. I look at what's going on with the decremental and the inefficient plants and the savings are flowing through pretty nicely. You were talking to various people, dealing with political leaders at all levels to make sure they understand the importance of this and then working very close with hands and hands with operations. And they're countering people like me who was -- from my standpoint, you charge forward, you're out there and you're dealing with issues. Now, if there's somehow that everyone got back to work right away, we got the testing that we needed, maybe the fourth -- the third calendar quarter, we could start seeing stuff. But the third quarter, in particular, is really -- is because the drop-off you see in those sales, I think -- what did we drop off? All the best to you, Andrew. And we started taking -- 'Okay, guys, we've got something coming at us here.' So, those are things we're doing. It's important that they're not too worried about this because we are clearly in a war and we've got to keep fighting this. It wasn't that one throat to choke here. Lynne Maxeiner - Director of IR David Farr - Chairman of the Board, … I think we'll see an acceleration over time from liquids to gas. I don't know if I'm going to want you talking to me. And then, from our product standpoint, a number of good examples on the right. So, again, in sum, I think we're in very, very good shape regarding liquidity. So, the short-cycle businesses in our instrumentation and KOB3 and final control being impacted. The thousands, many of them will be in trouble as we go through it. We've got to have the testing ability to find out who's had it, who's got it right now. As you know, our strategy is we have multiple suppliers, but the big issue for the first time we're seeing, not just one or two countries closing down, we have three countries closing down. Lal's business is probably a little bit better than that. It's part of dealing with just a very dramatic sales cycle that we hope doesn't last too long. And I don't believe this handshake will disappear. Some are idling units. Let me turn to Asia. So, they're very careful about doing any project activity right now. That's the biggest difference, Andrew. Jamie out in Asia-Pacific, Vidya in the Middle East. Lal Karsanbhai -- Executive President, Emerson Automation Solutions. Again, it all depends. Are there opportunities to move fast? Earnings Preview: Emerson Electric (EMR) Q2 Earnings Expected to Decline. Tim is holding my Rally Monkey and my Stan Musial bat and making sure that it doesn't get coronavirus. North America is very challenged. That's tremendous. 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