Industrials automation company Rockwell (NYSE:ROK) will be reporting earnings this Thursday morning. Here’s what to expect.
Rockwell Automation beat analysts’ revenue expectations last quarter, reporting revenues of $2.31 billion, up 7.9% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ organic revenue estimates and an impressive beat of analysts’ EBITDA estimates.
Is Rockwell Automation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Rockwell Automation’s revenue to grow 4.6% year on year, slowing from the 13.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Rockwell Automation has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Rockwell Automation’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. AMETEK delivered year-on-year revenue growth of 17.3%, beating analysts’ expectations by 2.5%, and Bloom Energy reported revenues up 138%, topping estimates by 14.6%. Bloom Energy traded down 11.2% following the results.
Read our full analysis of AMETEK’s results here and Bloom Energy’s results here.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. Rockwell Automation is down 1.9% during the same time and is heading into earnings with an average analyst price target of $474.88 (compared to the current share price of $446.38).
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