Rockwell Automation Inc. (NYSE:ROK) the world’s largest company dedicated to industrial automation, reported first-quarter fiscal 2018 results, wherein adjusted earnings of $1.96 surpassed the Zacks Consensus Estimate of $1.74.
Revenue: Rockwell Automation missed on the revenue front. It reported revenues of $1.59 billion in the fiscal first quarter, lagging the Zacks Consensus Estimate of $1.60 billion.
Outlook: Rockwell Automation revised its fiscal 2018 guidance. For 2018, the company raised its adjusted EPS guidance to the range of $7.60-$7.90 from the prior band of $7.20-$7.50. However, the company lowered reported sales growth outlook range to 4.5%-7.5%. from the previous range of 5%-8%.
Rockwell Automation expects to benefit from expanded product offering and strong customer relationships. The company also remains optimistic on the execution of its Connected Enterprise strategy. It is also increasing investments in fiscal 2018 in order to accelerate profitable growth and other long-term objectives.
Earnings Estimates Revision: The earnings estimate revisions for Rockwell Automation has been stable over the last 7 days. The Zacks Consensus Estimate for fiscal first quarter currently stands at $1.71. As regards earnings surprise, Rockwell Automation has an impressive surprise history and outpaced the Zacks Consensus Estimate in three out the past four quarters, with an average beat of 9.08%.
Rockwell Automation, Inc. Price and EPS Surprise
Rockwell Automation, Inc. Price and EPS Surprise | Rockwell Automation, Inc. Quote
Zacks Rank: Currently, Rockwell Automation has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
Market Reaction: Rockwell Automation’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this Rockwell Automation earnings report later!
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