(RTTNews) - While reporting financial results for the third quarter on Tuesday, Rockwell Automation, Inc. (ROK) raised its adjusted earnings and sales growth guidance for the full-year 2020.
For fiscal 2020, the company now projects adjusted earnings in a range of $7.40 to $7.60 per share on reported sales decline of about 5.5 percent and organic sales drop of 8.0 percent.
Previously, the company expects adjusted earnings in the range of $6.90 to $7.70 per share on reported sales decline of 6.5 to 3.0 percent and organic sales drop 9.5 to 6.5 percent.
On average, analysts polled by Thomson Reuters expect the company to earn $7.34 per share on a revenue decline of 5.9 percent to $6.30 billion for the year. Analysts' estimates typically exclude special items.
Additionally, the company said it will operate with three operating segments - Intelligent Devices, Software & Control, and Lifecycle Services - beginning next fiscal year. These new segments will simplify its structure around essential offerings, leverage its sharpened industry focus, and add software talent, which will play a larger role in its future value, it added.
Rockwell will begin to operate under the new segment structure effective from the first quarter of fiscal 2021. It expects to announce financial results for the fiscal first quarter in late January 2021 and will report financial performance based on these three operating segments.