Rockwell Automation Fiscal Q3 Results Beat Views

Rockwell Automation rose pre-market Wednesday after the company reported fiscal Q3 adjusted EPS of $1.76 per share compared with an income of $1.55 per share a year ago, beating the $1.65 average EPS estimate from analysts polled by Capital IQ. Total revenue for Q3 ended June 30 jumped to $1.60 billion from $1.47 billion a year ago, coming in above the $1.58 billion consensus.

Increasing its full-year fiscal 2017 earnings guidance, the company said adjusted EPS will come in a range of $6.60 to $6.80, which straddles the $6.67 per share consensus. Taking into account a smaller headwind from currency, the company projected full-year sales of approximately $6.30 billion, about in line with the $6.31 billion mean estimate. “The macro environment remains solid,” CEO Blake Moret said. “Our Connected Enterprise strategy is working and positions us well for the future. The pilots continue to deliver tangible results across multiple industries.”

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