Rockwell Automation (NYSE:ROK) earnings for the industrial automation company’s fiscal fourth quarter of 2019 have ROK stock soaring on Tuesday. This is thanks to the company’s adjusted EPS of $2.01. That beats out Wall Street’s estimate of $1.92 for the quarter. Revenue of $1.73 billion also comes in above analysts’ estimates of $1.65 billion.
Let’s see what else went down in the Rockwell Automation earnings report for fiscal Q4.
- Adjusted earnings per share are down 4.74% from $2.11 in the fiscal fourth quarter of 2018.
- Revenue is largely unchanged from the same period of the year prior.
- Net income of $8.10 million is a 97.66% drop YoY from net income of $345.90 million.
- Rockwell Automation notes that the drop in net income mostly comes from fair value adjustments in connection to its PTC investment.
Blake D. Moret, Chairman and Chief Executive Officer of Rockwell Automation, says this about the most recent ROK stock earnings.
“Our broadening portfolio helped deliver better-than-expected performance in the quarter. Organic sales growth of 1.4 percent was driven by continued strength in oil and gas, mining, and life sciences, as well as better performance in automotive and food and beverage.”
The Rockwell Automation earnings report also includes its outlook for fiscal 2020. This has it expecting adjusted per-share earnings between $8.70 and $9.10. That’s good news for ROK stock with the low end sitting above Wall Street’s estimate of $8.52 for the year.
ROK stock was up 10.09% as of Tuesday afternoon. It’s also up 18.78% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.