Rockwell Automation Updates FY23 Guidance

(RTTNews) - Rockwell Automation, Inc. (ROK) said the company expects 2023 adjusted EPS in a range of $11.70 - $12.10, revised from prior guidance range of $11.50 - $12.20. Organic sales growth is now projected in a range of 14.0% - 16.0%, revised from prior guidance range of 13.0% - 17.0%.

Third quarter bottom line totaled $400.2 million, or $3.45 per share compared with $297.9 million, or $2.55 per share, in last year's third quarter. Excluding items, Rockwell Automation reported adjusted earnings of $349.1 million or $3.01 per share for the period. Analysts on average had expected the company to earn $3.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.7% to $2.24 billion from $1.97 billion last year. Organic sales increased 13.2%, for the quarter.

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