- Reported sales down 6.4 percent;
organic sales down 4.8 percent year over year
- Diluted EPS of $1.46; Adjusted EPS of
$1.55
- Revising fiscal 2016 EPS guidance on
lower sales: Diluted EPS $5.43 - $5.63; Adjusted EPS $5.80 -
$6.00
Rockwell Automation, Inc. (NYSE: ROK) today reported fiscal 2016
third quarter sales of $1,474.0 million, down 6.4 percent from
$1,575.2 million in the third quarter of fiscal 2015. Organic sales
declined 4.8 percent, and currency translation reduced sales by 1.8
percent.
On a GAAP basis, fiscal 2016 third quarter net income was $191.0
million or $1.46 per share, compared to $206.1 million or $1.52 per
share in the third quarter of fiscal 2015. Pre-tax margin decreased
to 17.1 percent in the third quarter of fiscal 2016 from 18.1
percent in the same period last year.
Fiscal 2016 third quarter Adjusted EPS was $1.55, down 3 percent
compared to $1.59 in the third quarter of fiscal 2015. Total
segment operating earnings were $311.0 million in the third quarter
of fiscal 2016, down 10 percent from $343.7 million in the same
period of fiscal 2015. Total segment operating margin was 21.1
percent compared to 21.8 percent a year ago, primarily due to lower
sales.
Commenting on the results, Blake D. Moret, president and chief
executive officer, said, “Sales and earnings trends were broadly in
line with our expectations. Sales were down about a point more than
we anticipated, as our U.S. and Canada solutions and services
businesses experienced some delays in larger projects, particularly
in heavy industry end markets.
“For the quarter, I am pleased with our segment operating margin
performance and strong free cash flow conversion.”
Outlook
Commenting on the outlook, Moret added, “In mixed market
conditions, we expect continued improvement in our product sales.
However, the weaker-than-expected orders and sales performance in
our solutions and services businesses in the third quarter has
caused us to reduce our sales outlook for the balance of the year.
We still believe we will see sequential sales improvement in the
second half of the fiscal year, but not as much as we anticipated
in April.”
The following table provides updated guidance as it relates to
sales growth and earnings per share for fiscal 2016:
Sales Growth Guidance EPS
Guidance Reported sales growth ~ (7)% Diluted EPS
$5.43 - $5.63 Organic sales growth ~ (4)% Adjusted EPS $5.80 -
$6.00 Foreign currency impact ~ (3)%
Moret continued, “I am confident in our long-term growth
prospects. We will protect our key investments in innovation,
domain expertise, and commercial resources to ensure we continue to
deliver superior value for our customers and our shareowners.”
Following is a discussion of fiscal 2016 third quarter results
for both segments.
Architecture &
Software
Architecture & Software quarterly sales were $666.4
million, a decrease of 2.5 percent compared to $683.5 million in
the same period last year. Organic sales decreased 1.3 percent, and
currency translation reduced sales by 1.6 percent. Segment
operating earnings were $184.2 million compared to $199.9 million
in the same period last year. Segment operating margin decreased to
27.6 percent from 29.2 percent a year ago, primarily due to lower
sales and unfavorable mix and currency effects.
Control Products &
Solutions
Control Products & Solutions quarterly sales were
$807.6 million, a decrease of 9.4 percent compared to $891.7
million in the same period last year. Organic sales decreased 7.5
percent, and currency translation reduced sales by 1.9 percent.
Segment operating earnings were $126.8 million compared to $143.8
million in the same period last year. Segment operating margin
decreased to 15.7 percent from 16.1 percent a year ago, primarily
due to lower sales, partially offset by productivity.
Other Information
In the third quarter of fiscal 2016 cash flow provided by
operating activities was $276.0 million and free cash flow was
$250.4 million. Return on invested capital was 32.6 percent.
Fiscal 2016 third quarter general corporate-net expense was
$17.0 million compared to $21.9 million in the third quarter of
fiscal 2015.
On a GAAP basis, the effective tax rate in the third quarter of
fiscal 2016 was 24.3 percent compared to 27.6 percent in the third
quarter of fiscal 2015. The Adjusted Effective Tax Rate for the
third quarter of fiscal 2016 was 25.1 percent compared to 27.9
percent a year ago. The decreases in the effective tax rate and the
Adjusted Effective Tax Rate were primarily due to a favorable
discrete tax item in the current quarter, and the benefit of the
U.S. research and development tax credit. The Company now expects a
full-year 2016 effective tax rate of approximately 23.5 percent,
and an Adjusted Effective Tax Rate of approximately 24.5
percent.
During the third quarter of fiscal 2016, the Company repurchased
1.1 million shares of its common stock at a cost of $121.7 million.
At June 30, 2016, $1,075.2 million remained available under
previous share repurchase authorizations.
Organic sales, total segment operating earnings, total segment
operating margin, Adjusted Income, Adjusted EPS, Adjusted Effective
Tax Rate, free cash flow and return on invested capital are
non-GAAP measures that are reconciled to GAAP measures in the
attachments to this release.
Conference Call
A conference call to discuss our financial results will take
place at 8:30 a.m. Eastern Time on Wednesday, July 27, 2016.
The call and related financial charts will be webcast and
accessible via the Rockwell Automation website (http://www.rockwellautomation.com/investors/).
This news release contains statements (including certain
projections and business trends) that are “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995. Words such as “believe”, “estimate”, “project”,
“plan”, “expect”, “anticipate”, “will”, “intend” and other similar
expressions may identify forward-looking statements. Actual results
may differ materially from those projected as a result of certain
risks and uncertainties, many of which are beyond our control,
including but not limited to:
- macroeconomic factors, including global
and regional business conditions, the availability and cost of
capital, commodity prices, the cyclical nature of our customers’
capital spending, sovereign debt concerns and currency exchange
rates;
- laws, regulations and governmental
policies affecting our activities in the countries where we do
business;
- the successful development of advanced
technologies and demand for and market acceptance of new and
existing products;
- the availability, effectiveness and
security of our information technology systems;
- competitive products, solutions and
services and pricing pressures, and our ability to provide high
quality products, solutions and services;
- a disruption of our business due to
natural disasters, pandemics, acts of war, strikes, terrorism,
social unrest or other causes;
- our ability to manage and mitigate the
risk related to security vulnerabilities and breaches of our
products, solutions and services;
- intellectual property infringement
claims by others and the ability to protect our intellectual
property;
- the uncertainty of claims by taxing
authorities in the various jurisdictions where we do business;
- our ability to attract and retain
qualified personnel;
- our ability to manage costs related to
employee retirement and health care benefits;
- the uncertainties of litigation,
including liabilities related to the safety and security of the
products, solutions and services we sell;
- our ability to manage and mitigate the
risks associated with our solutions and services businesses;
- a disruption of our distribution
channels;
- the availability and price of
components and materials;
- the successful integration and
management of acquired businesses;
- the successful execution of our cost
productivity and globalization initiatives; and
- other risks and uncertainties,
including but not limited to those detailed from time to time in
our Securities and Exchange Commission (SEC) filings.
These forward-looking statements reflect our beliefs as of the
date of filing this release. We undertake no obligation to update
or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Rockwell Automation, Inc. (NYSE: ROK), the world’s largest
company dedicated to industrial automation and information, makes
its customers more productive and the world more sustainable.
Headquartered in Milwaukee, Wis., Rockwell Automation employs
approximately 22,000 people serving customers in more than 80
countries.
ROCKWELL AUTOMATION, INC. SALES AND
EARNINGS INFORMATION (in millions, except per share amounts
and percentages) Three Months Ended Nine
Months Ended June 30, June 30, 2016
2015 2016 2015 Sales Architecture &
Software (a) $ 666.4 $ 683.5 $ 1,938.8 $ 2,065.6 Control Products
& Solutions (b) 807.6 891.7 2,402.1
2,634.8 Total sales (c) $ 1,474.0 $ 1,575.2 $
4,340.9 $ 4,700.4 Segment operating earnings
Architecture & Software (d) $ 184.2 $ 199.9 $ 515.0 $ 622.1
Control Products & Solutions (e) 126.8 143.8
369.4 402.6 Total segment operating earnings1 (f)
311.0 343.7 884.4 1,024.7 Purchase accounting depreciation
and amortization (4.7 ) (5.2 ) (13.9 ) (15.8 ) General
corporate—net (17.0 ) (21.9 ) (54.5 ) (66.1 ) Non-operating pension
costs (18.9 ) (15.6 ) (56.7 ) (47.2 ) Interest expense (18.1 )
(16.4 ) (53.1 ) (47.0 ) Income before income taxes (g) 252.3 284.6
706.2 848.6 Income tax provision (61.3 ) (78.5 ) (161.7 ) (222.3 )
Net income $ 191.0 $ 206.1 $ 544.5 $ 626.3
Diluted EPS $ 1.46 $ 1.52 $ 4.13
$ 4.60 Adjusted EPS2 $ 1.55 $ 1.59 $
4.41 $ 4.82 Average diluted shares 130.8
135.5 131.6 136.1 Segment
operating margin Architecture & Software (d/a) 27.6 % 29.2 %
26.6 % 30.1 % Control Products & Solutions (e/b) 15.7 % 16.1 %
15.4 % 15.3 % Total segment operating margin1 (f/c) 21.1 % 21.8 %
20.4 % 21.8 % Pre-tax margin (g/c) 17.1 % 18.1 % 16.3 % 18.1
%
1Total segment operating earnings and total segment operating
margin are non-GAAP financial measures. We exclude purchase
accounting depreciation and amortization, general corporate – net,
non-operating pension costs, interest expense and income tax
provision because we do not consider these costs to be directly
related to the operating performance of our segments. We believe
that these measures are useful to investors as measures of
operating performance. We use these measures to monitor and
evaluate the profitability of our Company. Our measures of total
segment operating earnings and total segment operating margin may
be different from those used by other companies.
2Adjusted EPS is a non-GAAP earnings measure that excludes the
non-operating pension costs and their related income tax effects.
See "Other Supplemental Information - Adjusted Income, Adjusted EPS
and Adjusted Effective Tax Rate" section for more information
regarding non-operating pension costs and a reconciliation to GAAP
measures.
ROCKWELL AUTOMATION, INC. CONDENSED
CONSOLIDATED STATEMENT OF OPERATIONS (in millions)
Three Months Ended Nine Months Ended June
30, June 30, 2016 2015 2016
2015 Sales $ 1,474.0 $ 1,575.2 $ 4,340.9 $ 4,700.4
Cost of sales (857.2 ) (897.0 ) (2,517.3 ) (2,661.5 ) Gross profit
616.8 678.2 1,823.6 2,038.9 Selling, general and
administrative expenses (346.7 ) (376.4 ) (1,065.3 ) (1,145.7 )
Other income (expense) 0.3 (0.8 ) 1.0 2.4 Interest expense (18.1 )
(16.4 ) (53.1 ) (47.0 ) Income before income taxes 252.3 284.6
706.2 848.6 Income tax provision (61.3 ) (78.5 ) (161.7 ) (222.3 )
Net income $ 191.0 $ 206.1 $ 544.5
$ 626.3
ROCKWELL AUTOMATION,
INC. CONDENSED BALANCE SHEET INFORMATION (in
millions) June 30, 2016 September
30, 2015 Assets Cash and cash equivalents $
1,509.3 $ 1,427.3 Short-term investments 923.4 721.9 Receivables
1,022.5 1,041.0 Inventories 556.3 535.6 Property, net 567.0 605.6
Goodwill and intangibles 1,229.5 1,258.3 Other assets(1) 1,047.7
815.0 Total $ 6,855.7 $ 6,404.7
Liabilities
and Shareowners’ Equity Short-term debt $ 354.0 $ — Accounts
payable 532.6 521.7 Long-term debt 1,521.8 1,500.9 Other
liabilities(1) 2,326.0 2,125.3 Shareowners’ equity 2,121.3
2,256.8 Total $ 6,855.7 $ 6,404.7 (1) Reflects the
liability and indemnification receivable resulting from the
settlement during the third quarter of fiscal 2016 of a case
related to the U.S. Department of Energy’s Rocky Flats plant in
Colorado. Refer to our Form 8-K filed on May 19, 2016 for more
information.
ROCKWELL AUTOMATION, INC. CONDENSED
CASH FLOW INFORMATION (in millions) Nine
Months EndedJune 30, 2016 2015
Operating activities: Income from continuing operations $
544.5 $ 626.3 Depreciation and amortization 129.2 120.9 Retirement
benefits expense 117.5 106.4 Pension contributions (31.8 ) (30.9 )
Receivables/inventories/payables 22.1 69.1 Advanced payments from
customers and deferred revenue 13.8 26.2 Compensation and benefits
(81.1 ) (58.1 ) Income taxes (54.8 ) (12.7 ) Other 15.9 (7.5
) Cash provided by operating activities 675.3 839.7
Investing activities: Capital expenditures (79.4 ) (83.2 )
Acquisition of businesses, net of cash acquired (21.2 ) (21.2 )
Purchases of short-term investments (801.5 ) (470.8 ) Proceeds from
maturities of short-term investments 596.2 501.8 Proceeds from sale
of property 0.4 2.0 Cash used for investing
activities (305.5 ) (71.4 )
Financing activities: Net
issuance (repayment) of short-term debt 354.0 (325.0 ) Issuance of
long-term debt, net of discount and issuance costs — 594.3 Cash
dividends (284.7 ) (263.3 ) Purchases of treasury stock (374.1 )
(404.8 ) Proceeds from the exercise of stock options 28.0 55.5
Excess income tax benefit from share-based compensation 2.4 12.2
Other financing activities — (1.6 ) Cash used for financing
activities (274.4 ) (332.7 ) Effect of exchange rate changes on
cash (13.4 ) (59.7 )
Increase in cash and cash equivalents $
82.0 $ 375.9
ROCKWELL AUTOMATION, INC.
OTHER SUPPLEMENTAL INFORMATION
(in millions)
Organic
Sales
Our press release contains information regarding organic
sales, which we define as sales excluding the effect of changes in
currency exchange rates and acquisitions. We believe this non-GAAP
measure provides useful information to investors because it
reflects regional and operating segment performance from our
activities without the effect of changes in currency exchange rates
and/or acquisitions. We use organic sales as one measure to monitor
and evaluate our regional and operating segment performance. We
determine the effect of changes in currency exchange rates by
translating the respective period’s sales using the currency
exchange rates that were in effect during the prior year. When we
acquire businesses, we exclude sales in the current year for which
there are no comparable sales in the prior period. Organic sales
growth is calculated by comparing organic sales to reported sales
in the prior year. Sales are attributed to the geographic regions
based on the country of destination. The following is a
reconciliation of reported sales to organic sales for the three and
nine months ended June 30, 2016 compared to sales for the three and
nine months ended June 30, 2015: Three Months Ended
June 30, 2016 2015 Sales
Excluding Effect of Effect of Changes in Changes in Effect of
Organic Sales Currency Currency Acquisitions Sales Sales United
States $ 799.6 $ 0.5 $ 800.1 $ (1.1 ) $ 799.0 $ 872.4 Canada 82.2
3.9 86.1 — 86.1 93.1 Europe, Middle East, Africa 303.7 (1.5 ) 302.2
(0.8 ) 301.4 285.4 Asia Pacific 188.3 7.8 196.1 (0.7 ) 195.4 215.0
Latin America 100.2 17.9 118.1 — 118.1
109.3 Total $ 1,474.0 $ 28.6 $ 1,502.6
$ (2.6 ) $ 1,500.0 $ 1,575.2 Nine Months Ended June
30, 2016 2015 Sales Excluding Effect of Effect of Changes in
Changes in Effect of Organic Sales Currency Currency Acquisitions
Sales Sales United States $ 2,391.7 $ 1.8 $ 2,393.5 $ (1.4 ) $
2,392.1 $ 2,572.4 Canada 237.1 25.3 262.4 — 262.4 278.9 Europe,
Middle East, Africa 852.5 47.8 900.3 (0.8 ) 899.5 868.2 Asia
Pacific 540.7 30.1 570.8 (0.8 ) 570.0 621.6 Latin America 318.9
74.3 393.2 — 393.2 359.3 Total $
4,340.9 $ 179.3 $ 4,520.2 $ (3.0 ) $ 4,517.2
$ 4,700.4
The following is a reconciliation of reported sales to organic
sales for our operating segments for the three and nine months
ended June 30, 2016 compared to sales for the three and nine
months ended June 30, 2015:
Three Months Ended June 30, 2016 2015
Sales Excluding Effect of Effect of Changes in
Changes in Effect of Organic Sales Currency Currency Acquisitions
Sales Sales Architecture & Software $ 666.4 $ 11.1 $ 677.5 $
(2.6 ) $ 674.9 $ 683.5 Control Products & Solutions 807.6
17.5 825.1 — 825.1 891.7 Total $
1,474.0 $ 28.6 $ 1,502.6 $ (2.6 ) $ 1,500.0
$ 1,575.2 Nine Months Ended June 30, 2016 2015 Sales
Excluding Effect of Effect of Changes in Changes in Effect of
Organic Sales Currency Currency Acquisitions Sales Sales
Architecture & Software $ 1,938.8 $ 79.9 $ 2,018.7 $ (2.7 ) $
2,016.0 $ 2,065.6 Control Products & Solutions 2,402.1
99.4 2,501.5 (0.3 ) 2,501.2 2,634.8 Total $
4,340.9 $ 179.3 $ 4,520.2 $ (3.0 ) $ 4,517.2
$ 4,700.4
ROCKWELL AUTOMATION, INC.
OTHER SUPPLEMENTAL INFORMATION
(in millions, except per share amounts
and percentages)
Adjusted Income,
Adjusted EPS and Adjusted Effective Tax Rate
Our press release contains financial information and
earnings guidance regarding Adjusted Income, Adjusted EPS and
Adjusted Effective Tax Rate, which are non-GAAP earnings measures
that exclude non-operating pension costs and their related income
tax effects. We define non-operating pension costs as defined
benefit plan interest cost, expected return on plan assets,
amortization of actuarial gains and losses and the impact of any
plan curtailments or settlements. These components of net periodic
benefit cost primarily relate to changes in pension assets and
liabilities that are a result of market performance; we consider
these costs to be unrelated to the operating performance of our
business. We believe that Adjusted Income, Adjusted EPS and
Adjusted Effective Tax Rate provide useful information to our
investors about our operating performance and allow management and
investors to compare our operating performance period over period.
Adjusted EPS is also used as a financial measure of performance for
our annual incentive compensation. Our measures of Adjusted Income,
Adjusted EPS and Adjusted Effective Tax Rate may be different from
measures used by other companies. These non-GAAP measures should
not be considered a substitute for income from continuing
operations, diluted EPS and effective tax rate. The
following are the components of operating and non-operating pension
costs for the three and nine months ended June 30, 2016 and 2015:
Three Months EndedJune 30, Nine
Months EndedJune 30, 2016 2015
2016 2015 Service cost $ 22.1 $ 21.3 $ 66.0 $
64.5 Amortization of prior service credit (0.7 ) (0.7 ) (2.1 ) (2.0
) Operating pension costs 21.4 20.6 63.9 62.5
Interest cost 42.5 41.7 127.2 125.6 Expected return
on plan assets (54.8 ) (55.7 ) (163.9 ) (167.6 ) Amortization of
net actuarial loss 31.2 29.6 93.4 89.2
Non-operating pension costs 18.9 15.6 56.7
47.2 Net periodic pension cost $
40.3 $ 36.2 $ 120.6 $ 109.7
The following are reconciliations of income from continuing
operations, diluted EPS from continuing operations, and effective
tax rate to Adjusted Income, Adjusted EPS and Adjusted Effective
Tax Rate:
Three Months EndedJune 30, Nine
Months EndedJune 30, 2016 2015
2016 2015 Income from continuing operations $
191.0 $ 206.1 $ 544.5 $ 626.3 Non-operating pension costs 18.9 15.6
56.7 47.2 Tax effect of non-operating pension costs (6.8 ) (5.4 )
(20.5 ) (16.4 ) Adjusted Income $ 203.1 $ 216.3 $
580.7 $ 657.1 Diluted EPS from continuing
operations $ 1.46 $ 1.52 $ 4.13 $ 4.60 Non-operating pension costs
per diluted share 0.14 0.11 0.43 0.34 Tax effect of non-operating
pension costs per diluted share (0.05 ) (0.04 ) (0.15 ) (0.12 )
Adjusted EPS $ 1.55 $ 1.59 $ 4.41 $ 4.82
Effective tax rate 24.3 % 27.6 % 22.9 % 26.2 % Tax
effect of non-operating pension costs 0.8 % 0.3 % 1.0 % 0.4 %
Adjusted Effective Tax Rate 25.1 % 27.9 % 23.9 % 26.6 %
Fiscal 2016Guidance
Year EndedSeptember
30,2015
Diluted EPS from continuing operations $5.43 - $5.63 $ 6.09
Non-operating pension costs per diluted share 0.58 0.46 Tax effect
of non-operating pension costs per diluted share (0.21) (0.15 )
Adjusted EPS $5.80 - $6.00 $ 6.40 Effective tax rate
~ 23.5 % 26.6 % Tax effect of non-operating pension costs ~ 1.0 %
0.4 % Adjusted Effective Tax Rate ~ 24.5 % 27.0 %
ROCKWELL AUTOMATION, INC.
OTHER SUPPLEMENTAL INFORMATION
(in millions, except
percentages)
Free Cash
Flow
Our definition of free cash flow, which is a non-GAAP
financial measure, takes into consideration capital investments
required to maintain the operations of our businesses and execute
our strategy. We account for share-based compensation under U.S.
GAAP, which requires that we report the excess income tax benefit
from share-based compensation as a financing cash flow rather than
as an operating cash flow. We have added this benefit back to our
calculation of free cash flow in order to generally classify cash
flows arising from income taxes as operating cash flows. In
our opinion, free cash flow provides useful information to
investors regarding our ability to generate cash from business
operations that is available for acquisitions and other
investments, service of debt principal, dividends and share
repurchases. We use free cash flow, as defined, as one measure to
monitor and evaluate our performance, including as a financial
measure for our annual incentive compensation. Our definition of
free cash flow may be different from definitions used by other
companies. The following table summarizes free cash flow by
quarter:
Quarter Ended Dec. 31,2014
Mar. 31,2015 Jun. 30,2015
Sep. 30,2015 Dec. 31,2015
Mar. 31,2016 Jun. 30,2016
Cash provided by continuing operating activities $ 268.2 $ 285.2 $
286.3 $ 348.0 $ 184.8 $ 214.5 $ 276.0 Capital expenditures (40.0 )
(18.0 ) (25.2 ) (39.7 ) (40.2 ) (12.4 ) (26.8 ) Excess income tax
benefit from share-based compensation 4.4 2.2 5.6
0.2 0.7 0.5 1.2 Free cash flow $
232.6 $ 269.4 $ 266.7 $ 308.5 $ 145.3
$ 202.6 $ 250.4
Return On Invested
Capital
Our press release contains information regarding Return On
Invested Capital (ROIC), which is a non-GAAP financial measure. We
believe that ROIC is useful to investors as a measure of
performance and of the effectiveness of the use of capital in our
operations. We use ROIC as one measure to monitor and evaluate our
performance, including as a financial measure for our annual
incentive compensation. Our measure of ROIC may be different from
that used by other companies. We define ROIC as the percentage
resulting from the following calculation:
(a) Income from continuing operations, before
interest expense, income tax provision, and purchase accounting
depreciation and amortization, for the most recent twelve months;
divided by
(b) average invested capital for the year,
calculated as a five quarter rolling average using the sum of
short-term debt, long-term debt, shareowners’ equity, and
accumulated amortization of goodwill and other intangible assets,
minus cash and cash equivalents and short-term investments;
multiplied by
(c) one minus the effective tax rate for the
twelve-month period.
ROIC is calculated and reconciled to GAAP measures as
follows:
Twelve Months Ended June 30, 2016
2015 (a) Return Income from continuing
operations $ 745.8 $ 875.0 Interest expense 69.8 62.0 Income tax
provision 239.3 312.6 Purchase accounting depreciation and
amortization 19.1 21.5 Return 1,074.0 1,271.1
(b) Average invested capital Short-term debt 158.5
222.6 Long-term debt 1,504.2 1,142.8 Shareowners’ equity 2,277.2
2,614.3 Accumulated amortization of goodwill and intangibles 807.9
788.6 Cash and cash equivalents (1,469.9 ) (1,325.7 ) Short-term
investments (784.0 ) (609.8 ) Average invested capital 2,493.9
2,832.8
(c) Effective tax rate Income tax
provision 239.3 312.6 Income from continuing operations before
income taxes $ 985.1 $ 1,187.6 Effective tax rate
24.3 % 26.3 %
(a) / (b) * (1-c) Return On Invested Capital
32.6 % 33.1 %
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Rockwell AutomationKari PfistererMedia
Relations414.382.2555orRockwell AutomationPatrick GorisInvestor
Relations414.382.8510
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