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Rockwell Automation Inc. (ROK - Free Report) is the world’s largest company dedicated to industrial automation. Its products, services and solutions address a broad range of challenges in every major industrial sector, from automotive and tire to mining and oil and gas, from pharmaceuticals to food and beverage. Its brands include Allen-Bradley, Reliance Electric and Rockwell Software.
Rockwell’s growth and performance strategy seeks to achieve growth rates in excess of the automation market by expanding its served market, diversifying sales streams by broadening portfolio of products, solutions and services, expanding its global presence, growing market share and making acquisitions. Heavy industry end markets including oil and gas have not yet stabilized, and Rockwell Automation foresees continued softness in key emerging markets. In the U.S., its largest market, a strong dollar is adversely affecting producers and OEMs. Moreover, weakness in the mining industry and lack of major projects also remain concerns.
Investors have thus been eagerly awaiting the company’s fiscal 2017 second quarter earnings report. Let’s have a quick look at the earnings release of this Milwaukee, WI-based provider industrial automation power, control, and information solutions.
Estimate Trend & Surprise History: The earnings estimate revisions for Rockwell Automation has gone up over the last 30 days. The Zacks Consensus Estimate for the second quarter of fiscal 2017 has gone up 1% and currently stands at $1.40. As regards earnings surprise, Rockwell Automation has an impressive surprise history and outpaced the Zacks Consensus Estimate in all of the past four quarters, with an average beat of 8.16%
Earnings: Rockwell Automation beat estimates by a margin of 11%. Our consensus called for second quarter fiscal 2017 EPS of $1.40, while the company reported adjusted EPS of $1.55.
Revenue: Rockwell Automation also beat on the revenue front. It reported second quarter fiscal 2017 revenues of $1.55 billion, ahead of the Zacks Consensus Estimate of $1.48 billion.
Key Developments to Note: Given the strong first half results, Rockwell Automation increased its fiscal 2017 organic sales and earnings per share guidance ranges. For 2017, the company now expects adjusted EPS in the range of $6.45 to $6.75 per share. The company forecasts reported sales growth to be in the range of 4.5% to 7.5%. The mid-point of the sales guidance translated to $6.25 billion. This includes the impact of acquisitions and a smaller headwind from currency.
Zacks Rank: Currently, Rockwell Automation has a Zacks Rank #2 (Buy). 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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Rockwell Automation (ROK) Q2 Earnings, Sales Beat Estimates
Rockwell Automation Inc. (ROK - Free Report) is the world’s largest company dedicated to industrial automation. Its products, services and solutions address a broad range of challenges in every major industrial sector, from automotive and tire to mining and oil and gas, from pharmaceuticals to food and beverage. Its brands include Allen-Bradley, Reliance Electric and Rockwell Software.
Rockwell’s growth and performance strategy seeks to achieve growth rates in excess of the automation market by expanding its served market, diversifying sales streams by broadening portfolio of products, solutions and services, expanding its global presence, growing market share and making acquisitions. Heavy industry end markets including oil and gas have not yet stabilized, and Rockwell Automation foresees continued softness in key emerging markets. In the U.S., its largest market, a strong dollar is adversely affecting producers and OEMs. Moreover, weakness in the mining industry and lack of major projects also remain concerns.
Investors have thus been eagerly awaiting the company’s fiscal 2017 second quarter earnings report. Let’s have a quick look at the earnings release of this Milwaukee, WI-based provider industrial automation power, control, and information solutions.
Estimate Trend & Surprise History: The earnings estimate revisions for Rockwell Automation has gone up over the last 30 days. The Zacks Consensus Estimate for the second quarter of fiscal 2017 has gone up 1% and currently stands at $1.40. As regards earnings surprise, Rockwell Automation has an impressive surprise history and outpaced the Zacks Consensus Estimate in all of the past four quarters, with an average beat of 8.16%
Rockwell Automation, Inc. Price and EPS Surprise
Rockwell Automation, Inc. Price and EPS Surprise | Rockwell Automation, Inc. Quote
Earnings: Rockwell Automation beat estimates by a margin of 11%. Our consensus called for second quarter fiscal 2017 EPS of $1.40, while the company reported adjusted EPS of $1.55.
Revenue: Rockwell Automation also beat on the revenue front. It reported second quarter fiscal 2017 revenues of $1.55 billion, ahead of the Zacks Consensus Estimate of $1.48 billion.
Key Developments to Note: Given the strong first half results, Rockwell Automation increased its fiscal 2017 organic sales and earnings per share guidance ranges. For 2017, the company now expects adjusted EPS in the range of $6.45 to $6.75 per share. The company forecasts reported sales growth to be in the range of 4.5% to 7.5%. The mid-point of the sales guidance translated to $6.25 billion. This includes the impact of acquisitions and a smaller headwind from currency.
Zacks Rank: Currently, Rockwell Automation has a Zacks Rank #2 (Buy). 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!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>