Rockwell Automation (ROK) Tops Q4 EPS by 11c, Revenues Miss; Offers FY21 EPS Guidance Above Consensus

Rockwell Automation (NYSE: ROK) reported Q4 EPS of $1.87, $0.11 better than the analyst estimate of $1.76. Revenue for the quarter came in at $1.57 billion versus the consensus estimate of $1.59 billion.

• Fourth quarter reported sales down 9.3 percent year-over-year; organic sales down 12.1 percent year-over-year
• Fourth quarter reported sales up 12.6 percent sequentially; organic sales up 9.9 percent sequentially
• Fourth quarter diluted EPS of $2.25; Adjusted EPS of $1.87
• Full year fiscal 2020 diluted EPS of $8.77; Adjusted EPS of $7.68
• Full year fiscal 2020 Cash Flow from Operations of $1,120.5 million; Free Cash Flow conversion of 112%
• Redefining Adjusted Income and Adjusted EPS in fiscal 2021; fiscal 2020 Adjusted EPS in the new definition was $7.87
  

“Rockwell’s performance in the quarter and fiscal year demonstrates the increasing resiliency of our business model and the dedication of our employees under extraordinarily trying circumstances. Double-digit sequential orders growth reflects gradually improving business conditions and the expanding value we are providing to customers across diverse industries,” said Blake Moret, Chairman and CEO. “Flat operating margin in the quarter and strong free cash flow, despite lower year-over-year sales, are a testament to our ability to manage costs while continuing to make strategic investments.”

GUIDANCE:

Rockwell Automation sees FY2021 EPS of $8.45-$8.85, versus the consensus of $7.99.

• Introduces fiscal 2021 EPS guidance: Diluted EPS $8.07 - $8.47; Adjusted EPS $8.45 - $8.85 (new definition)

For earnings history and earnings-related data on Rockwell Automation (ROK) click here.

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