Rockwell Automation Q3 2021 Earnings Report
Key Takeaways
Rockwell Automation reported a strong third quarter with sales up 32.6% year over year and organic sales up 26.4%. The company also reported record orders of over $2 billion and updated its fiscal year 2021 guidance.
Reported sales increased by 32.6% year-over-year, with organic sales up 26.4%.
Record orders exceeded $2 billion, showing double-digit growth year-over-year.
Diluted EPS was $2.32, and Adjusted EPS was $2.31.
Cash Flow from Operations reached $461.5 million, with a Free Cash Flow conversion of 161%.
Rockwell Automation
Rockwell Automation
Rockwell Automation Revenue by Segment
Rockwell Automation Revenue by Geographic Location
Forward Guidance
Rockwell Automation updated its fiscal 2021 sales growth guidance to approximately 12% and organic sales growth guidance to approximately 8%. Diluted EPS guidance is updated to $12.85 - $13.05, and Adjusted EPS guidance is updated to $9.10 - $9.30.
Positive Outlook
- Strong quarterly performance
- Raised outlook reflecting high level of execution
- Organic and inorganic investments to accelerate strategy
- Continued orders strength
- Talented, engaged employees
Challenges Ahead
- COVID-19 pandemic and global efforts to respond to it continue to evolve
- Anticipation of continued supply chain constraints
- Estimated impact of pending Plex acquisition of $(0.15)
- Lower fair-value gains in fiscal 2021 versus fiscal 2020 due to PTC adjustments
- Higher effective tax rate in the third quarter of fiscal 2021
Revenue & Expenses
Visualization of income flow from segment revenue to net income