Rockwell Automation shares jump 5% after earnings beat
Rockwell Automation Inc. shares surged 5% Tuesday, after the maker of systems to automate industrial processes said . Milwaukee-based Rockwell said it had net income of $80.3 million, or 66 cents a share, in the quarter ending Dec. 31, after a loss of $236.4 million, or $1.84 a share, in the year-earlier period. Adjusted per-share earnings came to $2.21, or about 11% ahead of the FactSet consensus of $1.99. Sales rose to $1.642 billion from $1.587 billion, also ahead of the $1.631 billion FactSet consensus. The company said it expects fiscal 2019 adjusted EPS of $8.85 to $9.25 and for sales to rise 2.2% to 5.2%. The FactSet consensus was for EPS of $9.03, reduced after the earnings release to $8.97. Shares have gained 14% in 2019, while the S&P 500 has gained 5%.
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