Rockwell Automation Revises 2016 Adj. EPS Guidance On Lower Sales - Quick Facts

(RTTNews) - Rockwell Automation, Inc. (ROK) announced the company is lowering the mid-point of its organic growth guidance by one point. Taking into account an additional headwind from currency, the company is now expecting fiscal 2016 sales of approximately $5.9 billion. The company updated its adjusted EPS guidance range to $5.70 to $6.20.

Analysts polled by Thomson Reuters expect the company to report profit per share of $5.95 on revenue of $5.92 billion for the fiscal year. Analysts' estimates typically exclude special items.

Keith Nosbusch, CEO, said, "As expected, we had a weak start to the fiscal year with organic sales down 3.3 percent due to challenging market conditions in the U.S. and Asia Pacific. Heavy industry end markets continued to soften globally, particularly oil and gas in the U.S. Since providing guidance in November, oil and commodity prices have further deteriorated, and projections for economic growth including industrial production have softened."

During the first quarter of fiscal 2016, the company repurchased 1.2 million shares of its common stock at a cost of $121.8 million. At December 31, 2015, $323.4 million remained available under the existing share repurchase authorization.