Rockwell Automation, Inc. (NYSE:ROK) stock fell Tuesday after the industrial automation company reported fiscal third-quarter results.
CEO Blake Moret said continued strength in semiconductor, data center and warehouse automation, along with improving demand in automotive and life sciences, drove growth across the business.
The company reported adjusted earnings of $3.49 per share, up 22% from a year earlier and above the analyst consensus estimate of $3.38. Revenue increased 8% year over year to $2.313 billion, beating estimates of $2.243 billion.
Organic sales rose 10%, while currency translation added 1% to sales. Organic annual recurring revenue (ARR) increased 6%.
Pre-tax income climbed to $470 million from $342 million a year earlier, and the pre-tax margin expanded to 20.3% from 16.0%.
