Rockwell Automation Shares Sink After Profit Missed Estimates, Outlook Cut

(RTTNews) - Shares of Rockwell Automation, Inc. (ROK), a provider of industrial automation and digital transformation solutions, are falling more than 15% Wednesday morning after reporting lower profit for the first quarter. The company also cut its full-year earnings outlook.

Profit for the quarter declined to $215.2 million, or $1.86 per share from $384.0 million, or $3.31 per share, in last year's first quarter.

Excluding items, Rockwell reported earnings of $236.0 million or $2.04 per share for the period, that missed the average estimate of analysts polled by Thomson-Reuters of $2.64 per share.

For the full year, the company now expects EPS in the range of $11.24 - $12.74, lower than its earlier outlook of $11.49 - $12.99.

ROK, currently at $262.15, has traded in the range of $252.19 - $348.52 in the last 52 weeks.