- Rockwell Automation inc ROOK reported modest fourth-quarter revenue growth of 17.6% year-on-year to $2.126 billion, +20.5% on an organic basis miss the consensus of $2.13 billion.
- Full year orders were over $10 billion, up over 20% Y/Y. Total ARR grew 14% year over year and organic ARR grew 14% year over year.
- Adjusted EPS of $3.04 beat consensus of $2.97.
- Segments: Smart Devices $957 million (+11.7% y/y); Software & Control $657 million (+33% Y/Y) and Lifecycle Services $512 million (+12.1% Y/Y).
- Gross margin was 41.7%, up 190 basis points year-over-year.
- Rockwell’s free cash flow totaled $359 million.
- “Rockwell has delivered a very strong operational performance despite continued supply chain volatility, significant inflation and unfavorable currency rates. Our strong order intake and revenue performance in fiscal 2022 reflects the compelling value we bring to our customers across multiple industries and geographies,” said Blake Moret, Chairman and CEO.
- Forecast for the 2023 financial year: ROK sees revenue growth of 7.5% – 11.5% and organic revenue growth of 9% – 13%.
- It calls for adjusted EPS of $10.20 to $11.00 versus the consensus of $10.92.
- Price promotion: ROK shares are trading down 7.13% at $237.41 on the latest check Wednesday.
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