Rockwell Automation, Inc. (NYSE:ROK) reported better-than-expected first-quarter earnings on Monday.
Sales fell 8.4% year over year and slid 7.6% organically to $1.881 billion, in line with the consensus of $1.881 billion. Total ARR grew 11%. Adjusted EPS was $1.83 (-10% YoY), above the analyst consensus of $1.59.
"From a demand perspective, we are encouraged by better-than-expected order performance in the quarter with sequential growth across all regions and business segments. While there is still some macroeconomic and policy uncertainty weighing on customers’ capex plans, Rockwell won multi-million dollar strategic orders across key industries, especially in the U.S., our home market," commented Blake Moret, Chairman and CEO.
Rockwell Automation shares gained 12.7% to close at $302.34 on Monday.
These analysts made changes to their price targets on Rockwell Automation following earnings announcement.
Considering buying ROK stock? Here’s what analysts think:
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