U.S. engineering and industrial software firm Emerson on Wednesday raised its fiscal 2023 forecast, as companies increase spending on automation in response to a tight labor market.The company's shares rose 3.9 per cent in premarket trading.Companies across North America are working towards automat
U.S. engineering and industrial software firm Emerson on Wednesday raised its fiscal 2023 forecast, as companies increase spending on automation in response to a tight labor market.Companies across North America are working towards automating their factories in order to enhance efficiency and streamline operations amid a shortage of workers following the pandemic.
The company also expects its 2023 revenue to grow about 10.5 per cent, at the higher end of a 9 per cent-to-10.5 per cent growth it forecast earlier. The company's results were helped in the recent quarters from"strategic benefits of its exposure to attractive-end-markets," CEO Lal Karsanbhai said on Tuesday.
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