Rockwell Automation: Fiscal 1Q Earnings Snapshot
MILWAUKEE (AP) _ Rockwell Automation Inc. (ROK) on Tuesday reported fiscal first-quarter net income of $80.3 million, after reporting a loss in the same period a year earlier.
The Milwaukee-based company said it had profit of 66 cents per share. Earnings, adjusted for one-time gains and costs, came to $2.21 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share.
The industrial equipment and software maker posted revenue of $1.64 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $1.63 billion.
Rockwell Automation expects full-year earnings in the range of $8.85 to $9.25 per share.
Rockwell Automation shares have increased nearly 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5.5 percent. The stock has dropped 19 percent in the last 12 months.