Rockwell Automation (ROK) Q2 profit and revenue miss expectations, trims FY24 outlook due to excess customer inventory.
Rockwell Automation (ROK) reports Q2 profit and revenue below expectations, trims FY24 outlook due to excess inventory among customers, particularly machine builders. Earnings now forecast at $8.80-9.80 vs $11.24-12.74 per share, adjusted EPS $10.00-11.00 vs $12.00-13.50. Reported sales down 4-6%, organic sales down 6-8% vs previous expectations. Analysts predict $11.92 per share.
May 07, 2024
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