Rockwell Automation Inc. (NYSE:ROK) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.19%.
Rockwell Automation Inc. Earnings Cheat Sheet
Results: Net income decreased -11.95% to $161.4 million ($1.23 per diluted share) in the quarter versus a net gain of $183.3 million in the year-earlier quarter.
Revenue: Rose 1.09% to $1.49 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rockwell Automation Inc. reported adjusted net income of $1.23 per share. By that measure, the company missed the mean analyst estimate of $1.27. It beat the average revenue estimate of $1.48 billion.
Quoting Management: Keith D. Nosbusch, chairman and chief executive officer, said, “Total company sales were in line with our expectations for the quarter, but results by region were mixed. Strong growth in Latin America and the U.S. was mostly offset by declines in the other regions, consistent with underlying market conditions. Solutions order rates picked up in the quarter and we rebuilt backlog. Operating margin and free cash flow were both very good. Overall, I am pleased with the good start to the fiscal year…