Rockwell Automation Inc. Earnings: Enjoys Fifth Straight Quarter of Double-Digit Growth

S&P 500 (NYSE:SPY) component Rockwell Automation Inc. (NYSE:ROK) reported its results for the first quarter. Rockwell Automation provides industrial automation power, control and information solutions to customers in the manufacturing sector.

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Rockwell Automation Earnings Cheat Sheet for the First Quarter

Results: Net income for Rockwell Automation Inc. rose to $183.3 million ($1.27 per share) vs. $150.1 million ($1.04 per share) in the same quarter a year earlier. This marks a rise of 22.1% from the year earlier quarter.

Revenue: Rose 7.9% to $1.47 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: ROK beat the mean analyst estimate of $1.21 per share. It fell short of the average revenue estimate of $1.51 billion.

Quoting Management: Commenting on the results, Keith D. Nosbusch, chairman and chief executive officer, said, “We had great earnings growth on good sales growth in the quarter. Segment margins expanded and EPS growth of 22 percent was very strong. Regional sales growth rates varied, particularly in the solutions businesses. Process had a great quarter with 22 percent sales growth. In this macroeconomic environment, I am pleased with the solid start to the fiscal year.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the fourth quarter of the last fiscal year, net income rose 53.7% and in the third quarter of the last fiscal year, the figure rose 50.3%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 17 cents in the fourth quarter of the last fiscal year, by 3 cents in the third quarter of the last fiscal year, and by 2 cents in the second quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 21.9% to $1.65 billion in the fourth quarter of the last fiscal year. The figure rose 19.6% in the third quarter of the last fiscal year from the year earlier and climbed 25.7% in the second quarter of the last fiscal year from the year-ago quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from $1.28 a share to $1.26 over the last seven days. The average estimate for the fiscal year is $5.29 per share, a rise from $5.19 ninety days ago.

Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), AMETEK, Inc. (NYSE:AME), Parker-Hannifin Corp. (NYSE:PH), Honeywell Intl. Inc. (NYSE:HON), Perceptron, Inc. (NASDAQ:PRCP), Aspen Technology, Inc. (NASDAQ:AZPN), Emerson Electric Co. (NYSE:EMR), Baldwin Technology Co. (AMEX:BLD), Hollysys Automation Tech. Ltd (NASDAQ:HOLI), and Newport Corporation (NASDAQ:NEWP).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com