WASHINGTON (dpa-AFX) - (Adds Outlook)
Rockwell Automation Inc. (ROK), a provider of industrial automation and digital transformation solutions, released earnings for first quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line totaled $215.2 million, or $1.86 per share. This compares with $384.0 million, or $3.31 per share, in last year's first quarter.
Excluding items, Rockwell Automation Inc. reported adjusted earnings of $236.0 million or $2.04 per share for the period.
Analysts on average had expected the company to earn $2.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.5% to $2.05 billion from $1.98 billion last year.
Outlook:
Rockwell Automation cut its fiscal 2024 EPS guidance below estimate. The revised outlook reflects the purchase accounting amortization related to acquisitions of Clearpath Robotics and Verve Industrial Protection .
The company, meanwhile, maintained its Adjusted EPS and revenue outlook for the full year intact.
For the 12-month period, year, Rockwell Automation now expects EPS in the range of $11.24 to $12.74, lower than its earlier outlook of $11.49 to $12.99.
It also maintained the Adjusted EPS guidance in the range $12.00 to $13.50 and revenue growth to be between 0.5 percent to 6.5 percent.
On average, 17 analysts polled by Thomson Reuters expect earnings of $12.89 per share and revenue of $9.36 billion for the year. Analysts' estimates typically exclude special items.
Rockwell Automation Inc. Q1 earnings at a glance (GAAP) :
-Earnings (Q1): $215.2 Mln. vs. $384.0 Mln. last year. -EPS (Q1): $1.86 vs. $3.31 last year. -Analyst Estimates: $2.64 -Revenue (Q1): $2.05 Bln vs. $1.98 Bln last year.
-Guidance: Full year EPS guidance: $12.00 - $13.50
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
