Industrials automation company Rockwell (NYSE:ROK) will be reporting results tomorrow before the bell. Here’s what to expect.
Rockwell Automation missed analysts’ revenue expectations by 2% last quarter, reporting revenues of $2.04 billion, down 20.6% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations and a slight miss of analysts’ organic revenue estimates.
Is Rockwell Automation a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Rockwell Automation’s revenue to decline 7.8% year on year to $1.89 billion, a reversal from the 3.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.58 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Rockwell Automation has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Rockwell Automation’s peers in the electrical equipment segment, some have already reported their Q4 results, giving us a hint as to what we can expect. AMETEK delivered year-on-year revenue growth of 1.8%, missing analysts’ expectations by 3.6%, and Emerson Electric reported revenues up 1.4%, falling short of estimates by 1.1%. AMETEK traded down 2.3% following the results while Emerson Electric’s stock price was unchanged.
Read our full analysis of AMETEK’s results here and Emerson Electric’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 2% on average over the last month. Rockwell Automation is down 3% during the same time and is heading into earnings with an average analyst price target of $300.68 (compared to the current share price of $267.35).
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