Rockwell Automation Reports Strong First Quarter Profit
Rockwell Automation exceeded profit expectations in Q1, driven by its Lifecycle Services unit. This unit offers digital consulting, cybersecurity, remote monitoring, and asset management.
Shares surged over 9% premarket. CEO Blake Moret anticipates gradual improvement in sales and margins throughout the fiscal year, taking into account potential tariff impacts.
The Lifecycle Services unit reported a 5% sales increase to $546 million. Adjusted quarterly profit per share was $1.83, outpacing analyst estimates of $1.59.
Quarterly revenue declined by 8.3% to $1.88 billion, in line with forecasts.