Rockwell Automation Cuts 2024: Now Expects Adj. EPS Of ~$9.60 (Prior $10.00-$11.00) Vs $10.11 Est.; Sees Sales Growth Of ~(8.5)% (Prior (6.0)% - (4.0)%)
Portfolio Pulse from Benzinga Newsdesk
Rockwell Automation has revised its fiscal year 2024 guidance, lowering its adjusted EPS expectation to ~$9.60 from the prior range of $10.00-$11.00, and now anticipates a sales decline of ~8.5% compared to the previous forecast of a 4.0%-6.0% decline.
August 07, 2024 | 11:05 am
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Rockwell Automation has lowered its fiscal year 2024 guidance, reducing its adjusted EPS expectation to ~$9.60 from the prior range of $10.00-$11.00, and now anticipates a sales decline of ~8.5% compared to the previous forecast of a 4.0%-6.0% decline.
The downward revision in both adjusted EPS and sales growth indicates weaker-than-expected financial performance, which is likely to negatively impact investor sentiment and the stock price in the short term.
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