Rockwell Automation Reports Third Quarter 2017 Results

Freeman Staff

July 27, 2017

MILWAUKEE  - Rockwell Automation, Inc. (NYSE: ROK) today reported fiscal 2017 third quarter sales of $1,599.2 million, up 8.5 percent from $1,474.0 million in the third quarter of fiscal 2016. Organic sales grew 8.2 percent. Currency translation reduced sales by 0.9 percentage points, and acquisitions contributed 1.2 percentage points to sales growth.

 Fiscal 2017 third quarter net income was $216.9 million or $1.67 per share, compared to $191.0 million or $1.46 per share in the third quarter of fiscal 2016. Fiscal 2017 third quarter Adjusted EPS was $1.76, up 14 percent compared to $1.55 in the third quarter of fiscal 2016.

Pre-tax margin was 17.3 percent in the third quarter of fiscal 2017 compared to 17.1 percent in the same period last year. Total segment operating margin was 21.1 percent, unchanged from a year ago. Total segment operating earnings were $337.0 million in the third quarter of fiscal 2017, up 8 percent from $311.0 million in the same period of fiscal 2016.

The increases in EPS, Adjusted EPS, pre-tax income, and total segment operating earnings were primarily due to higher sales, partially offset by higher incentive compensation.

Commenting on the results, Blake D. Moret, president and chief executive officer, said, "We had another quarter of strong sales and earnings performance. Organic sales grew 8 percent, in line with our expectations. EPS was up double digits for the third consecutive quarter, and free cash flow remained strong.

"I am pleased to see broad-based sales growth across regions and industries. Growth was led by double-digit increases in Asia Pacific and Latin America. The U.S., our largest market, was up 10 percent, including the contribution from acquisitions. Transportation, food and beverage, and semiconductor were strong."