Rockwell Automation Q1 Earnings Top Estimates; Boosts FY23 Forecast

  • Rockwell Automation Inc ROK reported first-quarter FY23 sales growth of 6.7% year-on-year to $1.98 billion, beating the consensus of $1.93 billion. Organic sales increased 9.9%.
  • Intelligent Devices sales increased 4% to $936 million, Software & Control rose 11.6% to $573 million, and Lifecycle Services climbed 6.4% to $472 million.
  • Adjusted EPS of $2.46 beat the analyst consensus of $1.88.
  • Total segment operating earnings rose 12.9% to $401 million, with the margin at 20.2% versus 19.1% a year ago, primarily due to positive price/cost and higher sales volume partially offset by higher investment spend.
  • The company held $460 million in cash and equivalents as of Dec. 31, 2022. Cash generated by operating activities in the quarter totaled $66.3 million.
  • Outlook: Rockwell raised its FY23 Adjusted EPS outlook from $10.20 - $11.00 to $10.70 - $11.50 versus an estimate of $10.56.
  • The company also raised FY23 reported sales growth outlook from 7.5% - 11.5% to 10% - 14%.
  • Price Action: ROK shares are trading higher by 0.74% at $280.14 on the last check Thursday.
  • Photo Via Company
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!