MILWAUKEE - Rockwell Automation Inc. (NYSE: NYSE:ROK) reported fourth quarter earnings that beat estimates but saw its shares fall sharply by 4.76% after issuing disappointing guidance for fiscal 2025.
The industrial automation company posted adjusted earnings per share of $2.47 for the quarter ended September 30, topping analyst expectations of $2.40. However, revenue of $2.04 billion came in slightly below the consensus estimate of $2.06 billion.
For the fourth quarter, Rockwell's sales declined 21% year-over-year on both a reported and organic basis to $2.04 billion. The company cited continued softness in many end markets.
Looking ahead, Rockwell provided a weak outlook for fiscal 2025, projecting adjusted EPS of $8.60 to $9.80, well below the $10.76 analysts were expecting. The company also forecast reported and organic sales growth of -4% to 2% for the year.
"Orders for the quarter came in lower than expected, reflecting continued softness in many of our end markets," said Blake Moret, Chairman and CEO of Rockwell Automation.
For the full fiscal 2024 year, Rockwell reported adjusted EPS of $9.71, down 20% from $12.12 in fiscal 2023. Full year sales declined 9% to $8.26 billion.
The company said it will continue to "fuel high-growth areas and drive margin expansion projects" to increase business resilience amid the uncertain macroeconomic environment.
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