Rockwell Automation Slashes FY20 Outlook Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Tuesday, Rockwell Automation, Inc. (ROK) slashed its adjusted earnings and sales guidance for the full-year 2020, based on the information currently available amid the uncertainties associated with the magnitude and duration of the COVID-19 pandemic.

For fiscal 2020, the company now projects 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.

Previously, the company expects adjusted earnings in the range of $8.70 to $9.10 per share on reported sales growth of 2 to 5 percent and organic sales change between a decline of 1.5 percent and a growth of 1.5 percent.

On average, analysts polled by Thomson Reuters expect the company to earn $6.99 per share on a revenue decline of 6.2 percent to $6.28 billion for the year. Analysts' estimates typically exclude special items.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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