MILWAUKEE (AP) — Rockwell Automation Inc. (ROK) on Tuesday reported fiscal first-quarter profit of $593.3 million.
On a per-share basis, the Milwaukee-based company said it had net income of $5.06. Earnings, adjusted for non-recurring gains, were $2.38 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.92 per share.
The industrial equipment and software maker posted revenue of $1.57 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.61 billion.
Rockwell Automation expects full-year earnings in the range of $8.70 to $9.10 per share.
Rockwell Automation shares have increased 4% since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 3%. The stock has risen 29% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ROK at https://www.zacks.com/ap/ROK
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