Rockwell Automation Shares Drop Post Q4 Results As Supply Chain Crisis, Inflation, Currency Headwinds Weigh

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  • Rockwell Automation Inc ROK reported fourth-quarter sales growth of 17.6% year-over-year to $2.126 billion, +20.5% organic basis, marginally missing the consensus of $2.13 billion
  • Full-year orders were over $10 billion, up over 20% Y/Y. Total ARR grew 14% Y/Y, and organic ARR grew 14% Y/Y.
  • Adjusted EPS of $3.04 beat the consensus of $2.97.
  • Segments: Intelligent Devices $957 million (+11.7% Y/Y); Software & Control $657 million (+33% Y/Y) and Lifecycle Services $512 million (+12.1% Y/Y).
  • The gross margin was 41.7%, up by 190 bps from a year ago.
  • Rockwell's free cash flow totaled $359 million.
  • "Rockwell delivered very strong operating performance amidst continued supply chain volatility, significant inflation, and currency headwinds. Our strong orders and sales performance in fiscal 2022 reflect the compelling value we provide to our customers across many industries and regions," said Blake Moret, Chairman, and CEO.
  • FY23 Guidance: ROK sees sales growth of 7.5% - 11.5% and organic sales growth of 9% - 13%.
  • It sees Adjusted EPS of $10.20 - $11.00 versus the consensus of $10.92.
  • Price Action: ROK shares are trading lower by 7.13% at $237.41 on the last check Wednesday.
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