Rockwell Automation Trading Down Despite Upbeat Results

(RTTNews) - Shares of industrial automation solutions provider Rockwell Automation, Inc. (ROK) are falling more than 4% Wednesday morning despite reporting better-than-expected fourth-quarter results.

Profit for the quarter was $339 million or $2.91 per share, higher than $78.5 million or $0.67 per share in the same quarter a year ago.

Excluding one-time items, earnings were $3.04, that beat the average estimate of analysts polled by Thomson-Reuters of $2.97 per share.

Sales were $2.126 billion, up 17.6% compared to $1.808 billion. The consensus estimate was for $2.13 billion.

Looking forward, the company expects adjusted EPS to be in the range of $10.20-$11.00. Analysts see earnings of $10.92 per share.

Organic sales growth for the year is expected between 9.0% and 13.0%.

ROK, currently at $242.93, has traded in the range of $190.08-$354.99 in the last 1 year.