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Mar 31, 2023
Rockwell Automation Q2 2023 Earnings Report
Rockwell Automation's Q2 2023 performance was marked by significant sales and earnings growth, driven by improved component availability and strong execution.
Key Takeaways
Rockwell Automation reported a strong second quarter in fiscal year 2023, with sales up by 25.8% year-over-year and organic sales increasing by 27.3%. The company's diluted EPS rose to $2.59, while adjusted EPS reached $3.01, reflecting substantial growth compared to the previous year. Rockwell Automation also updated its fiscal year 2023 guidance, projecting continued sales and earnings growth.
Reported sales increased by 25.8% year-over-year, with organic sales up by 27.3%.
Total ARR grew by 15% year-over-year.
Diluted EPS reached $2.59, and adjusted EPS was $3.01, marking significant increases from the previous year.
Fiscal year 2023 sales growth guidance was updated to 12.5% - 16.5%, with organic sales growth projected at 13.0% - 17.0%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Rockwell Automation updated its fiscal year 2023 guidance, reflecting first half performance and record backlog, and assumes continued improvement in electronic component availability.
Positive Outlook
- Updated fiscal 2023 reported sales growth guidance to 12.5% - 16.5%.
- Updated fiscal 2023 organic sales growth to 13.0% - 17.0%.
- Diluted EPS is projected to be between $11.71 - $12.41.
- Adjusted EPS is expected to be in the range of $11.50 - $12.20.
- The guidance reflects first half performance and record backlog.
Challenges Ahead
- Guidance assumes continued improvement in electronic component availability.
- There are potential risks related to macroeconomic factors.
- The availability and price of components and materials could impact results.
- Disruptions to business due to pandemics, natural disasters, or acts of war could affect 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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