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Dec 31, 2022
Rockwell Automation Q1 2023 Earnings Report
Rockwell Automation's Q1 2023 earnings exceeded expectations due to strong execution and focus on supply chain resilience, with double-digit earnings growth year-over-year.
Key Takeaways
Rockwell Automation reported a 6.7% increase in sales to $1,981 million, with organic sales up 9.9%. Diluted EPS increased by 61% to $3.31, and adjusted EPS rose by 15% to $2.46. The company updated its fiscal 2023 sales and EPS guidance, reflecting strong Q1 performance and a gradually improving supply chain environment.
Reported sales increased by 6.7% year-over-year, with organic sales up 9.9%.
Currency translation reduced sales by 4.0%, while acquisitions contributed 0.8%.
Organic ARR grew by 14%.
Diluted EPS was $3.31, and adjusted EPS was $2.46, representing increases of 61% and 15% year-over-year, respectively.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Rockwell Automation updated its fiscal year 2023 guidance, reflecting first quarter performance and record backlog, assuming a gradually improving supply chain environment.
Positive Outlook
- Reported sales growth updated to 10.0% - 14.0%.
- Organic sales growth updated to 11.0% - 15.0%.
- Inorganic sales growth remains at approximately 1.0%.
- Diluted EPS guidance updated to $10.99 - $11.79.
- Adjusted EPS guidance updated to $10.70 - $11.50.
Challenges Ahead
- Currency translation is expected to reduce sales by approximately (2.0)%.
- The guidance is based on the assumption of a gradually improving supply chain environment, which may not materialize.
- Actual results may be affected by various risks and uncertainties, including macroeconomic factors, component availability, and geopolitical issues.
- The company's ability to achieve the expected benefits of strategic transactions could impact future performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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