logo
Plus   Neg
Share
Email

Rockwell Automation Boosts FY20 Outlook; To Operate With Three Segments From Fiscal 2021

While reporting financial results for the third quarter on Tuesday, Rockwell Automation, Inc. (ROK) raised its adjusted earnings and sales growth guidance for the full-year 2020.

For fiscal 2020, the company now projects adjusted earnings in a range of $7.40 to $7.60 per share on reported sales decline of about 5.5 percent and organic sales drop of 8.0 percent.

Previously, the company expects adjusted earnings in the range of $6.90 to $7.70 per share on reported sales decline of 6.5 to 3.0 percent and organic sales drop 9.5 to 6.5 percent.

On average, analysts polled by Thomson Reuters expect the company to earn $7.34 per share on a revenue decline of 5.9 percent to $6.30 billion for the year. Analysts' estimates typically exclude special items.

Additionally, the company said it will operate with three operating segments - Intelligent Devices, Software & Control, and Lifecycle Services - beginning next fiscal year. These new segments will simplify its structure around essential offerings, leverage its sharpened industry focus, and add software talent, which will play a larger role in its future value, it added.

Rockwell will begin to operate under the new segment structure effective from the first quarter of fiscal 2021. It expects to announce financial results for the fiscal first quarter in late January 2021 and will report financial performance based on these three operating segments.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hongkong Sun Rise Trading Ltd. has recalled about 151,400 units of Kobalt Cordless Electric chainsaws and about 106,520 units of Kobalt Cordless Electric pole saws for possible laceration hazard, according to two separate statements issued by the U.S. Consumer Product Safety Commission. These include 1,400 chainsaws and 120 pole saws sold in Canada. Branded food company Hormel Foods Corp. (HRL) announced Friday that its Hormel Black Label Breakfast Food Truck will hit the road with free sample event of the popular brand's new Hormel Black Label Oven-Baked Egg Bites. The samples come in three variants - with Bacon, with Chorizo and with Bacon and... United Airlines has rolled out an interactive online "Map Search" feature for its customers in collaboration with search giant Google. The new feature is powered by Google Flight Search Enterprise Technology. United is claimed to be the first airline in the U.S. to add this feature. The new feature, available on United.com, allows customers to easily search, compare and purchase flight tickets.
Follow RTT