Rockwell Automation Increases FY18 Adj. EPS Guidance - Quick Facts

(RTTNews) - Rockwell Automation, Inc. (ROK) announced the company now expects its fiscal 2018 adjusted EPS to be in the range of $7.60 - $7.90. Organic sales growth is expected to be in the range of 3.5% to 6.5%.

Blake Moret, CEO, said: "As a result of our strong first quarter and a lower tax rate for the year, we are increasing our full year adjusted EPS guidance. We are also increasing investments in fiscal 2018 in order to accelerate profitable growth and other long-term objectives. These include accelerated software development, investments to help our employees be more engaged and productive, and importantly, spending to enable customer innovation and complement our existing workforce development initiatives. We are also actively engaged in the evaluation of inorganic opportunities to accelerate our Connected Enterprise strategy."

First-quarter adjusted EPS was $1.96, up 12 percent compared to $1.75 in the first quarter of prior year. The company said the increase in adjusted EPS was primarily due to higher sales, partially offset by higher investment spending. Organic sales grew 5.3 percent for the quarter.