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Rockwell Automation Inc.

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Rockwell Automation’s first-quarter fiscal 2018 adjusted earnings improved 12% year-over-year and beat the Zacks Consensus Estimate on the back of elevated sales, partially offset by higher investment spending. Driven by improving global macroeconomic conditions and strong order performance, Rockwell Automation anticipates reported sales growth of 5-8% for fiscal 2018. The company hiked adjusted EPS guidance to the range of $7.60-$7.90 reflecting the impact of lower tax rates and better-than-expected first-quarter performance. The mid-point of the earnings guidance range depicts year-over-year growth of 15%. The company will benefit from growth in heavy industries vertical. Its priorities for capital allocation remain focused on organic investment, acquisitions and enhancing capital returns for shareholders. The company’s shares have outperformed the industry in the past six months.

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