- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
S&P 500 (NYSE:SPY) component Rockwell Automation Inc. (NYSE:ROK) reported its results for the third quarter. Rockwell Automation provides industrial automation power, control and information solutions to customers in the manufacturing sector.
Investing Insights: Is TV the Next Bullish Catalyst for Apple’s Stock?
Rockwell Automation Inc. Earnings Cheat Sheet
Results: Net income for Rockwell Automation Inc. rose to $190.7 million ($1.33 per share) vs. $179.5 million ($1.23 per share) in the same quarter a year earlier. This marks a rise of 6.2% from the year-earlier quarter.
Revenue: Rose 2.9% to $1.56 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rockwell Automation Inc. beat the mean analyst estimate of $1.31 per share. It fell short of the average revenue estimate of $1.6 billion.
Quoting Management: Commenting on the results, Keith D. Nosbusch, chairman and chief executive officer, said, “We delivered solid seven percent organic sales growth in the quarter with organic growth in all regions. Operating margin expanded almost a point and earnings per share grew nine percent. It was a good quarter in the midst of a challenging macroeconomic environment.”
The company has now seen its net income rise for three quarters in a row. In the second quarter, net income rose 0.8% and in the first quarter, the figure rose 22.1%.
Revenue has increased for four consecutive quarters. Revenue increased 6.6% to $1.56 billion in the second quarter. The figure rose 7.9% in the first quarter from the year earlier and climbed 21.9% in the fourth quarter of the last fiscal year from the year-ago quarter.
The company topped expectations last quarter after falling short of forecasts in the second quarter with net income of $1.16 versus a mean estimate of net income of $1.27 per share.
Looking Forward: Over the past sixty days, the outlook for the company’s performance next quarter has become increasingly unfavorable. The average estimate for the fourth quarter is $1.46 per share, a drop from $1.51. At $5.20 per share, the average estimate for the fiscal year has fallen from $5.33 ninety days ago.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories:
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.