Rockwell Automation (NYSE: ROK) reported Q3 EPS of $2.16, $0.12 better than the analyst estimate of $2.04. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.69 billion.

• Reported sales up 6.2 percent year over year; organic sales up 5.7 percent
• Diluted earnings per share of $1.58; Adjusted EPS of $2.16
• Reported results include adjustments related to the PTC Securities Purchase Agreement
• Updating fiscal 2018 diluted EPS guidance: $3.29 - $3.49
• Increasing fiscal 2018 Adjusted EPS guidance: $7.90 - $8.10

Commenting on the third quarter results, Blake D. Moret, chairman and chief executive officer, said, "I am very pleased with our results for the quarter. Our 6 percent organic sales growth was above expectations, driven by broad-based growth across regions and industries. We expanded segment margins by more than a point, increased Adjusted EPS by over 20 percent, and delivered strong free cash flow performance. We continue to invest for growth and are executing well on our key strategic initiatives."

Commenting on the outlook, Moret added, "Global Industrial Production and other production indicators remain strong. Taking into consideration our year-to-date results, growing backlog, and the macro outlook, we are raising fiscal 2018 organic sales growth guidanceto about 5.5 percent and continue to expect fiscal 2018 reported sales to be about $6.7 billion. We are increasing our Adjusted EPS guidance range to $7.90 - $8.10."

Moret continued, "We are focused on profitable, above-market growth through a combination of share gains in core platforms, double-digit growth in Information Solutions and Connected Services, and a point or more per year of growth from acquisitions. We are delivering in each of these areas. In our core platforms, Logix grew 10 percent and Process grew 8 percent this quarter. Revenue from the new value of The Connected Enterprise again grew double digits. Our strategic partnership with PTC creates the most comprehensive and flexible information software offering in the industry. This will unlock new levels of productivity at our customers and accelerate our profitable growth.

GUIDANCE:

Rockwell Automation sees FY2018 EPS of $7.90-$8.10, versus the consensus of $7.87.

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