Rockwell Automation reports Q1 EPS $2.04, consensus $2.64

Reports Q1 revenue $2.05, consensus $2.10B.”Rockwell had an encouraging start to the fiscal year, with both organic and total sales up low single digits year over year. Importantly, we saw an upward inflection in customer order activity, with total orders up double digits sequentially. Q1 orders were up sequentially across all business segments and regions, with particular strength in North America. High levels of channel inventory and some lingering supply chain constraints continue to impact the timing of product shipments, but underlying conditions remain positive. Our Sensia joint venture had a profitable Q1 with over 25% growth in both orders and sales. We also continue to see double-digit growth in our Annual Recurring Revenue, demonstrating the growing value of our recurring software and services,” said Blake Moret, Chairman and CEO.