Rockwell Automation, Inc. (NYSE: ROK), a global leader in industrial automation and digital transformation, on Wednesday reported a decline in sales and profit for the third quarter of 2024.
- Third quarter sales were $2.05 billion, down 8.4% from $2.24 billion reported in the same quarter of fiscal 2023
- Organic sales decreased 8.4% annually during the three months as a decline in currency translation more than offset the benefits of acquisitions
- Net income attributable to the company was $232 million or $2.02 per share in Q3, compared to $400 million or $3.45 per share last year
- Q3 adjusted earnings per share decreased to $2.71 from $3.01 a year earlier, primarily due to lower sales volume and lower segment operating margin
- The pre-tax margin was 12.4% in the third quarter, compared to 21.1% in the corresponding period last year
- Total segment operating earnings decreased 10% year-over-year to $427 million during the three months
- Total segment operating margin was 20.8% in the third quarter, vs. 21.1% in the prior-year quarter