Why Shares of Rockwell Automation Are Soaring Today
Shares of Rockwell Automation (NYSE: ROK) jumped more than 13% on Tuesday morning after the industrial technology company reported better-than-expected results for its fiscal fourth quarter, and guided for an earnings range that exceeds analysts' consensus forecast for its next fiscal year. Many industrial-focused companies are suffering amid the current slowdown in the manufacturing sector, but Rockwell appears to have a portfolio that can weather this storm.
Rockwell Automation, which provides robotics and technologies that help automate factories and assembly lines, reported adjusted earnings of $2.01 per share on revenue of $1.73 billion, beating expectations for EPS of $1.92 on sales of $1.65 billion. Its operating margin fell slightly from 20.8% to 20.2% due to restructuring charges, but for the full fiscal year, its operating margin was up.
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Source Fool.com
