Earnings Summary: Rockwell Automation reports lower sales and profit for Q2 2024

Rockwell Automation, Inc. (NYSE: ROK), a global leader in industrial automation and digital transformation, on Tuesday announced financial results for the second quarter of 2024.

• Sales, on a reported basis, decreased 6.6% year-over-year to $2.13 billion in Q2; organic sales down 8.1%
• Q2 net income declined to $266 million or $2.31 per share from $300 million or $2.59 per share in the year-ago quarter
• On an adjusted basis, March-quarter earnings decreased to $2.50 per share from $3.01 per share a year earlier
• Pre-tax margin was 14.6% in the second quarter, compared to 15.4% in the same period last year
• Total segment operating earnings declined by 16.5% from last year to $404 million in Q2
• The management expects full-year 2024 sales to decline in the range of 6.0% to 4.0%
• Full-year organic sale is expected to decline between 8.0% and 6.0%
• The company is looking for FY24 earnings per share of $8.80-$9.80; adjusted EPS is expected to be $10.00-$11.00
• Rockwell announced the upcoming retirement of Nicholas Gangestad as senior vice president and CFO