ROK - Rockwell Automation Inc. (ROK) Q1 2024 Earnings Call Transcript
2024-01-31 12:47:07 ET
Rockwell Automation, Inc. (ROK)
Q3 2024 Earnings Conference Call
January 31, 2024 08:30 AM ET
Company Participants
Blake Moret - Chairman and CEO
Nick Gangestad - SVP and CFO
Aijana Zellner - Head-IR and Market Strategy
Conference Call Participants
Andy Kaplowitz - Citigroup
Jeff Sprague - Vertical Research
Andrew Obin - Bank of America
Nigel Coe - Wolfe Research
Steve Tusa - JPMorgan
Chris Snyder - UBS
Julian Mitchell - Barclays
Noah Kaye - Oppenheimer
Joe O'Dea - Wells Fargo
Presentation
Operator
Thank you for holding and welcome to Rockwell Automation's Quarterly Conference Call. I need to remind everyone that today's conference call is being recorded. Later on the call, we will open up the lines for questions. [Operator Instructions].
At this time, I would like to turn the call over to Aijana Zellner, Head of Investor Relations and Market Strategy. Ms. Zellner, please go ahead.
Aijana Zellner
Thank you, Juliane. Good morning, and thank you for joining us for Rockwell Automation's first quarter fiscal 2024 earnings release conference call. With me today is Blake Moret, our Chairman and CEO; and Nick Gangestad, our CFO.
Our results were released earlier this morning and the press release and charts have been posted to our website. Both the press release and charts include, and our call today will reference, non-GAAP measures. Both the press release and charts include reconciliations of these non-GAAP measures.
A webcast of this call will be available on our website for replay for the next 30 days. For your convenience, a transcript of our prepared remarks will also be available on our website at the conclusion of today's call.
Before we get started, I need to remind you that our comments will include statements related to the expected future results of our company and are, therefore, forward-looking statements.
Our actual results may differ materially from our projections due to a wide range of risks and uncertainties that are described in our earnings release and detailed in all of our SEC filings.
So, with that, I'll hand it over to Blake.
Blake Moret
Thanks Aijana and good morning everyone. Thank you for joining us today. Let's turn to our first quarter results on Slide 3. This quarter, we saw double-digit sequential growth in orders, with all business segments and regions up from the trough in Q4 of last year. While we are continuing to see the impact of excess inventory in the channel, the underlying demand from machine builders and end-users remain strong.
Total sales were up 3.6% year-over-year. Organic sales grew 1% in the quarter, led by North America. China was the single largest drag on our shipments. Currency translation increased sales by over 1 point, and acquisitions contributed almost 1.5 points of growth....
Rockwell Automation, Inc. (ROK) Q1 2024 Earnings Call Transcript