Rockwell Automation (ROK) Beats On Q2 Earnings, View Up
Zacks Investment Research | Apr 25, 2017 10:47PM ET
Rockwell Automation, Inc. (NYSE:ROK) reported adjusted earnings per share of $1.55 in second-quarter fiscal 2017 (ended Mar 31, 2017), up 13% from $1.37 earned in the prior-year quarter. Further, earnings outpaced the Zacks Consensus Estimate of $1.40, a positive earnings surprise of 11%. The year-over-year performance was driven by higher sales, and lower effective tax rates, partially offset by higher incentive compensation.
Including one-time items, the company’s earnings came in at $1.45 per share, up 13% from the year-ago quarter figure of $1.28.
Total revenue was $1.55 million in the quarter, up 8% year over year and surpassed the Zacks Consensus Estimate of $1.48 billion. Organic sales rose 6.8%, acquisitions contributed 1.7% while unfavorable foreign currency translations had an impact of 0.6%.
Operational Update
Cost of sales increased 6% year over year to $898 million. Gross profit went up 11% to $657 million from $594 million in the year-ago quarter. Selling, general and administrative expenses increased 14% to $409 million.
Consolidated segment operating income was $296 million, up 7% from $277 million in the prior-year quarter. Segment operating margin was 19% in the quarter, a 30 basis points contraction from the prior-year quarter on the back of higher sales, partially neutralized by higher incentive compensation.
Rockwell Automation, Inc. Price, Consensus and EPS Surprise
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.