Rockwell Automation misses 4Q profit forecasts

Associated Press

Nov. 9, 2017

MILWAUKEE — Rockwell Automation Inc. (ROK) on Wednesday reported fiscal fourth-quarter profit of $204.6 million.

On a per-share basis, the Milwaukee-based company said it had net income of $1.57. Earnings, adjusted for non-recurring costs, came to $1.69 per share.

The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.

The industrial equipment and software maker posted revenue of $1.67 billion in the period, which topped Street forecasts. Seven analysts surveyed by Zacks expected $1.66 billion.

For the year, the company reported profit of $825.7 million, or $6.35 per share. Revenue was reported as $6.31 billion.

Rockwell Automation expects full-year earnings in the range of $7.20 to $7.50 per share.

Rockwell Automation shares have climbed 49 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 16 percent. The stock has increased 62 percent in the last 12 months.