Rockwell Automation (NYSE: ROK) reported Q4 EPS of $2.11, $0.09 better than the analyst estimate of $2.02. Revenue for the quarter came in at $1.73 billion versus the consensus estimate of $1.77 billion.

• Fourth quarter reported sales up 3.7 percent year over year; organic sales up 7.3 percent
• Fourth quarter diluted EPS of $2.80; Adjusted EPS of $2.11
• Full year diluted EPS of $4.21; Adjusted EPS of $8.11
• Reported results include adjustments related to the PTC investment and the Tax Cuts and Jobs Act of 2017 (the "Tax Act")
• Fiscal 2019 EPS guidance: Diluted EPS $8.92 - $9.32; Adjusted EPS $8.85 - $9.25

Commenting on the fourth quarter results, Blake D. Moret, chairman and chief executive officer, said, "I am pleased with our results for the quarter. Our 7 percent organic sales growth was in line with expectations, driven by growth across a very broad range of industries. Adjusted EPS increased by 25 percent, and free cash flow was once again very strong. We also finished the year with healthy backlog.

“Fiscal 2018 was an important year for Rockwell Automation, marked by strong operating and financial performance, as well as actions that set the stage for our continued success. Organic growth was up 5.5 percent, segment operating margins expanded, Adjusted EPS was up 20 percent, and free cash flow conversion was 114 percent. We had several other key accomplishments this year, including our partnership with PTC, which will accelerate future growth. In the wake of U.S. tax reform, we significantly increased our capital deployment to deliver long-term shareowner value, including our $1 billion equity investment in PTC, $1.5 billion of share repurchases, and raising the annual dividend twice for a total increase of over 20 percent. We continue to invest for the long-term success of our company, customers, and our employees.”

Moret continued, “We are executing well on our key strategic initiatives. Revenues from Information Solutions and Connected Services, which represent new value of The Connected Enterprise, grew double digits this year. Logix grew 7 percent organically and Process grew double digits. Our partnership with PTC is off to a great start. Our employees and customers are excited about the market-leading capabilities of our joint offering. We have a robust funnel of opportunities and look forward to sharing more about our progress at our investor day next week."

GUIDANCE:

Rockwell Automation sees FY2019 EPS of $8.85-$9.25, versus the consensus of $8.99.

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