Rockwell Automation raised its annual profit forecast on Tuesday, citing steady industrial demand and ongoing cost-saving measures to support growth and margins, after also beating quarterly estimates.
CEO Blake Moret said continued strength in semiconductor, data center, and warehouse automation, as well as improving activity in automotive and life sciences, drove growth across the business.
- Institute for Supply Management’s manufacturing PMI stood at 53.3 in June, down from 54 in May but still above the 50 threshold that signals expansion, supporting spending on industrial facilities and bolstering demand for companies such as Rockwell Automation.
- The Milwaukee, Wisconsin-based company now expects 2026 adjusted profit between US$13 and US$13.3 per share compared with its previous view of US$12.5 to US$13.1 per share.
- Analysts on average expect annual adjusted profit of US$13.01 per share, according to data compiled by LSEG.
- The industrial automation maker sees annual sales growth of 7.5 per cent to 9.5 per cent from its previous forecast of 5 per cent to 9 per cent.
- On an adjusted basis, Rockwell posted third-quarter profit per share of US$3.49, beating analysts’ estimates of US$3.38.
- Total quarterly sales rose 7.9 per cent to US$2.31 billion, surpassing analysts’ estimates of US$2.25 billion, as stronger performance in the intelligent devices and software and control segments more than offset a 12 per cent decline in the lifecycle services segment.
- Shares of the company were down about 5 per cent in premarket trading.
(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Vijay Kishore)
