Rockwell Automation (NYSE: ROK) reported Q1 EPS of $2.11, $0.01 better than the analyst estimate of $2.10. Revenue for the quarter came in at $1.68 billion versus the consensus estimate of $1.63 billion.

• Reported sales up 2.6 percent year over year; organic sales down 1.0 percent
• Inorganic investments contributed 4.5 percent to reported sales growth
• Diluted EPS of $2.66; Adjusted EPS of $2.11
• Updates fiscal 2020 Diluted EPS guidance from $8.48 - $8.88 to $9.09 - $9.49
• Reaffirms fiscal 2020 Adjusted EPS guidance: $8.70 - $9.10

"Despite a difficult macro environment for manufacturers, first quarter sales and Adjusted EPS were slightly better than we expected. We saw growth in Automotive and Semiconductor as well as strength in China. Our first quarter sales also included strong double-digit growth in Information Solutions and Connected Services and a significant contribution from our inorganic investments." said Blake D. Moret, Chairman and CEO. "Our balance sheet remains strong, and we continue to look for opportunities to accelerate progress on our strategic priorities."

GUIDANCE:

Rockwell Automation sees FY2020 EPS of $8.70-$9.10, versus the consensus of $8.91.

"The macro-environment is showing signs of stabilization, and I am confident in our ability to execute and gain share as we build long-term value for our customers, shareowners, and employees," Moret added, commenting on the outlook. \"In the quarter, we had significant new wins across our Connected Enterprise portfolio as we guide customers on their digital transformation journeys. We are at the forefront of the convergence of IT and OT. This is an exciting time for Rockwell as we extend our leadership position as an industrial technology company,” Moret concluded.

For earnings history and earnings-related data on Rockwell Automation (ROK) click here.