Rockwell Automation Q3 Profit Rises, Narrows 2015 EPS Outlook
Rockwell automation, Inc. (ROK) reported that third-quarter net income increased to $206.1 million or $1.52 per share from $199.7 million or $1.43 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $1.59 per share, compared to last year's $1.49 per share. On average, 19 analysts polled by Thomson Reuters expected the company to report earnings of $1.54 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter declined 4.5 percent to $1.58 billion from $1.65 billion in the same quarter last year, while 18 analysts had a consensus revenue estimate of $1.58 billion. Organic sales grew 2.2 percent. Currency translation reduced sales by 6.8 percent.
Looking ahead to fiscal 2015, the company said it now expects adjusted earnings in a range of $6.55 to $6.70 per share, narrower than the prior forecast range of $6.50 to $6.80 per share, but continues to projects sales of about $6.4 billion, while lowering its organic sales growth by 1 point.
Street now expects full-year 2015 earnings of $6.63 per share and sales of $6.43 billion.
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