Rockwell Automation on Tuesday raised its annual profit forecast, after reporting better-than-expected second-quarter results, helped by higher sales of its factory automation systems and robotics control software.
The U.S. manufacturing Purchasing Managers' Index rose to 52.7 in March from 47.9 in December, according to the Institute for Supply Management's data, signaling a rebound in factory activity that could support demand for industrial offerings.
o Rockwell's shares rose nearly 9% in premarket trading following the results.
o The industrial automation maker is seeing strong momentum across much of its business, driven by improving demand in warehouse automation, data centers, semiconductors and energy, CEO Blake Moret said.
o Sales at its software and control segment were up 20% in the second quarter from a year ago, while sales at its intelligent devices segment rose 13%.
o The Milwaukee, Wisconsin-based company expects 2026 adjusted profit between $12.50 and $13.10 per share, compared with its previous view of $11.40 to $12.20.
o Analysts on average expect annual adjusted profit of $12.15 per share, according to data compiled by LSEG.
o Rockwell posted adjusted second-quarter profit of $3.30 per share, compared with estimates of $2.89 per share.
o Total sales rose nearly 12% to $2.24 billion for the quarter ended March 31, above expectations of $2.16 billion.
(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Shreya Biswas)
