(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.