Emerson Electric profit jumps 47% on strength in automation unit

FILE PHOTO: Emerson Electric Co is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid

(Reuters) - U.S. equipment maker Emerson Electric Co on Tuesday posted a near 47% jump in third-quarter profit, benefiting from stronger performance at its automation unit as companies revamp their assembly lines to offset a shortage of factory workers.

The St. Louis, Missouri-based company, which began selling fans and electric motors more than a century ago, has been positioning itself as a technology-focused firm with a string of acquisitions over the last few years.