Rockwell Automation Sees Higher Earnings, Sales In FY23 - Update

(RTTNews) - While reporting higher third-quarter earnings and sales, Rockwell Automation Inc. (ROK) on Wednesday issued fiscal 2023 earnings and sales growth forecast.

For fiscal 2023, the company expects earnings per share of $9.54 to $10.34, and adjusted earnings per share of $10.20 to $11.00.

On average, 27 analysts polled by Thomson Reuters expect earnings of $10.92 per share for the year. Analysts' estimates typically exclude special items.

For the year, sales are expected to grow between 7.5 percent and 11.5 percent on a reported basis, and 9 percent and 13 percent organically.

In fiscal 2022, earnings per share were $7.97, adjusted earnings per share were $9.49, and sales were $7.76 billion.

Blake Moret, Chairman and CEO, said, "As we look to 2023, we are confident in our ability to execute our strategy. Our record backlog, underlying customer demand, and a more resilient operating model position us well for another year of profitable double-digit growth."