Rockwell Automation Q1 2022 Earnings Report
Key Takeaways
Rockwell Automation reported strong Q1 2022 results with sales up 18.7% and record orders of $2.5 billion, up over 40% year-over-year. Diluted EPS was $2.05 and Adjusted EPS was $2.14. The company reaffirms its fiscal 2022 sales and earnings guidance.
Record quarterly orders of $2.5 billion, up over 40% year over year.
Reported sales up 18.7% year over year; organic sales up 16.8%.
Total ARR up over 50% with recent Plex acquisition; Organic ARR up double digits.
Q1 Diluted EPS of $2.05 and Adjusted EPS of $2.14.
Rockwell Automation
Rockwell Automation
Rockwell Automation Revenue by Segment
Rockwell Automation Revenue by Geographic Location
Forward Guidance
Rockwell Automation reaffirms fiscal 2022 reported sales growth guidance of 16% - 19% and organic sales growth of 14% - 17%. Updates fiscal 2022 Diluted EPS guidance from $9.91 - $10.51 to $10.01 - $10.61. Reaffirms fiscal 2022 Adjusted EPS guidance of $10.50 - $11.10.
Positive Outlook
- Expect very strong growth this year, with total sales up 17.5% at the midpoint of our guidance range.
- Guidance reflects strong demand as well as record backlog.
- Reaffirms fiscal 2022 reported sales growth guidance of 16% - 19%.
- Reaffirms fiscal 2022 organic sales growth of 14% - 17%.
- Reaffirms fiscal 2022 Adjusted EPS guidance of $10.50 - $11.10.
Challenges Ahead
- Supply chain challenges remain dynamic.
- Projections assume gradual improvement over the course of the year.
- Updates fiscal 2022 Diluted EPS guidance from $9.91 - $10.51 to $10.01 - $10.61 due to changes in purchase accounting amortization and the Q1 impact of the change in fair value of our investments, primarily PTC.
- First quarter of fiscal 2021 included a non-recurring legal settlement gain of $0.45.
- Adjusted EPS was down 10.1% compared to $2.38 in the first quarter of fiscal 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income