ROCKWELL AUTOMATION, INC Quarterly Report for Q1 Ended Dec 31, 2022

Summary

Rockwell Automation, Inc. reported strong financial results for the quarter ended December 31, 2022. Total sales increased by 6.7% year-over-year to $1.98 billion, with organic sales showing a robust 9.9% increase. This growth was driven by broad-based demand across all geographic regions and segments, particularly in Software & Control and Lifecycle Services, with pricing contributing significantly to revenue. Net income attributable to Rockwell Automation surged by 59% to $384.0 million, translating to a diluted Earnings Per Share (EPS) of $3.31, a substantial increase from $2.05 in the prior year period. The company also demonstrated improved cash flow generation, with operating cash flow significantly improving and free cash flow turning positive.

Key Highlights

• 1Total sales increased by 6.7% to $1.98 billion, driven by a 9.9% organic sales growth, indicating strong underlying demand.
• 2Net income attributable to Rockwell Automation saw a significant jump of 59% to $384.0 million.
• 3Diluted Earnings Per Share (EPS) rose to $3.31 from $2.05 in the prior year, reflecting improved profitability.
• 4The Software & Control segment experienced robust sales growth of 11.6% with a notable increase in segment operating margin to 29.2%.
• 5The company successfully improved its cash flow generation, with operating cash flow at $66.3 million and free cash flow at $42.1 million, a significant turnaround from the prior year.
• 6Rockwell Automation provided a positive outlook for fiscal year 2023, guiding for reported sales growth of 10.0% - 14.0% and Diluted EPS of $10.99 - $11.79.
• 7The company completed the acquisition of CUBIC in October 2022, adding to its Intelligent Devices segment and contributing to sales growth.

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