Rockwell Automation Inc., under the symbol ROK, announced a decrease in earnings for the first quarter from the same period last year, falling short of Wall Street estimates. The company's net income for the duration amounted to $215.2 million, equivalent to $1.86 per share. This is a diminished earning compared to last year's first quarter report of $384.0 million, or $3.31 per share.
When special items are excluded, Rockwell Automation Inc. reported an increase in adjusted net income of $236.0 million or $2.04 per share for the period. However, these results did not meet the average analyst expectation of earning $2.64 per share. It should be noted that these estimates typically overlook special items as reported by Thomson Reuters.
In terms of revenue, the company experienced a 3.5% increase for this quarter, raking in $2.05 billion compared to $1.98 billion from the same quarter last year. To summarize, Rockwell Automation Inc.'s earnings on a GAAP basis for the first quarter are as follows:
Quarterly Earnings were $215.2 million, down from $384.0 million last year. The Earnings Per Share for this quarter were $1.86, lower than the $3.31 last year. Analysts had predicted earnings of $2.64 per share. The quarterly revenue increased to $2.05 billion compared to $1.98 billion last year.
Regarding their upcoming forecast, the company guides a Full-Year Earnings Per Share within the range of $12.00 to $13.50.
