Rockwell Automation ( NYSE: ROK ) fell 6.9% in premarket trading after the industrial automation company provided disappointing earnings guidance.
The company estimated its adjusted EPS for 2023 will be in a range of $10.20 to $11, making $10.60 the midpoint. The analyst consensus estimate for the year is $10.97.
Rockwell’s other results were better than estimated such as its 18% gain in revenue to $2.13 billion for its fiscal Q4 that ended in September, beating the consensus by $10 million. Its adjusted EPS of $3.04 beat estimates by $0.06.
"Rockwell delivered very strong operating performance amidst continued supply chain volatility, significant inflation and currency headwinds,” Blake Moret, chairman and CEO of Rockwell, said in a statement. “Our strong orders and sales performance in fiscal 2022 reflect the compelling value we provide to our customers across many industries and regions.”
For further details see:
Rockwell Automation falls in premarket after 2023 earnings guidance