Industrials

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target price at $325, valuing shares at 23x our FY 25 (Sep.) EPS estimate (initiated at $14.15; 2024 EPS outlook lifted to $13.24 from $13.12), near ROK’s five-year forward P/E average. ROK posted Sep-Q operating EPS of $3.64 vs. $3.04 (+20% Y/ Y), beating consensus by $0.17. Sep-Q sales grew 21% Y/Y (up 18% organically), reflecting broad-based growth across ROK’s businesses as recovering supply chains enabled a reduction in lead times on shipments. ROK’s capacity investments are bearing fruit, with backlogs seeing a meaningful reduction in the Sep-Q. However, backlogs continue to be well above pre-pandemic levels ($4.1 billion) and will take several quarters to normalize, in our view. Shares are trading somewhat lower following ROK’s Sep-Q print given, in our opinion, a […]

Rockwell Automation Reports Fourth Quarter and Full Year 2023 Results; Introduces Fiscal 2024 Guidance — Fourth quarter reported sales up 20.5% year over year; organic sales up 17.7% year over year — Fourth quarter diluted EPS of $2.61 down (10)% year over year; adjusted EPS of $3.64 up 20% year over year — Full year reported sales up 16.7% year over year; organic sales up 16.9% year over year — Total ARR grew 16% year over year — Full year fiscal 2023 diluted EPS of $11.95 and adjusted EPS of $12.12; up 50% and 28% year over year, respectively — Full year fiscal 2023 cash provided by operating activities of $1.4 billion and free cash flow of $1.2 billion; up 67% and 78% year over year, respectively — Fiscal 2024 guidance: — Reported sales growth of 0.5% – 6.5%; organic sales growth of (2.0)% – 4.0% — Diluted EPS $11.49

Rockwell Automation (NYSE:ROK) reported quarterly adjusted earnings of $3.64 per share which beat the analyst consensus estimate of $3.45 by 5.51 percent. This is a 19.74 percent increase over earnings of $3.04 per share from the same period last year. The company reported quarterly sales of $2.56 billion which beat the analyst consensus estimate of $2.43 billion by 5.47 percent. This is a 20.56 percent increase over sales of $2.13 billion the same period last year.