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Mar 31, 2024
Rockwell Automation Q2 2024 Earnings Report
Rockwell Automation's Q2 2024 performance was impacted by customer inventory levels and resulted in updated fiscal year guidance.
Key Takeaways
Rockwell Automation reported a decrease in sales and earnings for the second quarter of fiscal 2024. Sales were down 6.6% year over year, with organic sales decreasing by 8.1%. Diluted EPS was $2.31, and adjusted EPS was $2.50. The company updated its fiscal 2024 sales and EPS guidance due to excess inventory at customers.
Reported sales decreased by 6.6% year over year, while organic sales declined by 8.1%.
Acquisitions contributed 1.4% to sales growth.
Total Annual Recurring Revenue (ARR) increased by 20% year over year.
Diluted EPS was $2.31, and adjusted EPS was $2.50, reflecting year-over-year decreases of 11% and 17%, respectively.
Rockwell Automation
Rockwell Automation
Rockwell Automation Revenue by Segment
Rockwell Automation Revenue by Geographic Location
Revenue by Segment
Intelligent Devices Revenue
CapyFin.comSoftware & Control Revenue
CapyFin.comLifecycle Services Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comLatin America Revenue
CapyFin.com Forward Guidance
Rockwell Automation updated its fiscal year 2024 guidance, anticipating reported sales growth of (6.0)% - (4.0)% and organic sales growth of (8.0)% - (6.0)%. Diluted EPS is projected to be $8.80 - $9.80, and adjusted EPS is expected to be $10.00 - $11.00.
Positive Outlook
- Commitment to building a strong foundation for future growth and profitability.
- Unmatched portfolio with both traditional offerings and new sources of value.
- Focus on margin expansion through cost discipline.
- Focus on operational excellence.
- Focus on organic growth.
Challenges Ahead
- Updated fiscal 2024 reported sales growth guidance to (6.0)% - (4.0)%.
- Updated fiscal 2024 organic sales growth to (8.0)% - (6.0)%.
- Updated fiscal 2024 diluted EPS guidance to $8.80- $9.80.
- Updated fiscal 2024 adjusted EPS guidance to $10.00 - $11.00.
- There is more excess inventory at our customers, particularly machine builders, than we originally expected.
Revenue & Expenses
Visualization of income flow from segment revenue to net income