NYSE$ROK

Rockwell Automation Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Rockwell Automation reported first quarter fiscal 2021 results and updated fiscal 2021 guidance.

Rockwell Automation's first quarter fiscal 2021 sales were $1,565.3 million, a 7.1% decrease year-over-year. Diluted EPS was $5.06 and Adjusted EPS was $2.38, which includes $0.45 from a favorable legal settlement. The company is updating fiscal 2021 Diluted EPS guidance to $11.07 - $11.47 and Adjusted EPS guidance to $8.70 - $9.10.

  • Reported sales down 7.1 percent year over year; organic sales down 9.7 percent
  • Total orders up double digits sequentially, exceeding pre-pandemic levels
  • Inorganic investments contributed 1.8 percent to reported sales growth
  • Diluted EPS of $5.06 and Adjusted EPS of $2.38 include $0.45 from a favorable legal settlement

Headline financials

Total Revenue

$1.57B

Previous: $1.68B-7.1%
EPS (adj)

$2.38

Previous: $2.11+12.8%
Pre-Tax Margin

44.8%

Previous: 19.9%+125.1%
Segment Operating Margin

19.8%

Previous: 20.1%-1.5%
Effective Tax Rate

15.8%

Previous: 5.7%+177.2%
Capital Expenditures

-$27.1M

Previous: -$37M+26.8%
Free Cash Flow

$566M

Previous: $274M+106.9%
Net Income

$593M

Previous: $311M+91.0%
Operating Income

$328M

Previous: $288M+13.9%
Gross Profit

$647M

Previous: $703M-8.0%
Cash & Equivalents

$730M

Previous: $926M-21.1%
Total Assets

$8.17B

Previous: $7.11B+15.0%
Stock-Based Comp

$11.5M

Previous: $11.5M+0.0%

Revenue & EPS history

Rockwell Automation · Revenue · Quarterly

$1.57B

Q1 2021-7.1%vs Q1 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Rockwell Automation · $1.12B total across 2 segments · Q1 2021

  • Intelligent Devices
    $722M
  • Lifecycle Services
    $403M

Forward guidance

Rockwell Automation updates fiscal 2021 Diluted EPS guidance to $11.07 - $11.47 and Adjusted EPS guidance to $8.70 - $9.10, based on strong order performance and assuming no increase in pandemic-related disruptions.

Tailwinds

  • Reported sales growth 8.5% - 11.5%
  • Diluted EPS $11.07 - $11.47
  • Organic sales growth 4.5% - 7.5%
  • Adjusted EPS $8.70 - $9.10
  • Inorganic sales growth ~1-1.5%

Headwinds

  • COVID-19 pandemic and global efforts to respond to it continue to evolve
  • Our projections assume no increase in pandemic-related facility closures or disruptions to the supply chain.
  • Macroeconomic factors, including global and regional business conditions
  • The availability and price of components and materials
  • Uncertainties of litigation, including liabilities related to the safety and security of the hardware and software products, solutions and services we sell

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

-0.1%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+1.1%

Avg return

30 days after

44%

32 / 73 earnings

Positive

+12.7%

Q3 2022

Best reaction

-14.4%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026+4.6%+13.2%+14.4%
Q1 2026-5.4%-4.0%-14.0%
Q4 2025+2.8%+8.1%+11.5%
Q3 2025-5.0%-4.7%-1.8%
Q2 2025+12.0%+18.5%+28.2%
Q1 2025+12.6%+9.7%-2.4%
Q4 2024-7.4%-5.5%+0.5%
Q3 2024+3.3%+0.9%+2.0%
Q2 2024-1.4%-1.4%-8.0%
Q1 2024-14.4%-13.3%-5.9%
Q4 2023-1.2%-3.7%+5.4%
Q3 2023-9.5%-11.1%-7.2%
Q2 2023+4.7%+3.1%+5.8%
Q1 2023+3.0%+1.4%+4.4%
Q4 2022-5.0%-1.9%+3.8%
Q3 2022+12.7%+15.1%+8.0%
Q2 2022-11.1%-14.2%-12.0%
Q1 2022-4.5%-2.7%-9.6%
Q4 2021+6.1%+6.0%+7.4%
Q3 2021+0.5%+3.2%+7.4%
Q2 2021-0.3%-2.8%-1.8%
Q1 2021-7.6%-4.7%-6.3%
Q4 2020-4.9%-5.9%-3.1%
Q3 2020-3.5%-4.7%+1.3%
Q2 2020+8.4%+0.8%+19.1%
Q1 2020-0.9%-1.1%-6.7%
Q4 2019+10.5%+11.8%+14.7%
Q3 2019-2.5%-2.1%-12.4%
Q2 2019-5.5%-4.3%-18.1%
Q1 2019+5.3%+3.5%+9.4%
Q4 2018-2.7%-6.3%-8.8%
Q3 2018+8.0%+7.2%+2.7%
Q2 2018+2.0%+1.6%+9.9%
Q1 2018-2.4%-2.4%-9.4%
Q4 2017-5.5%-4.1%-4.0%
Q3 2017+1.1%+1.2%-2.1%
Q2 2017-0.5%-2.3%-0.5%
Q1 2017+7.7%+5.1%+6.4%
Q4 2016+6.4%+12.0%+18.2%
Q3 2016-3.7%-5.5%-2.3%
Q2 2016-1.4%
Q1 2016-1.4%
Q4 2015-3.6%
Q3 2015-1.8%
Q2 2015+7.9%
Q1 2015+2.6%
Q4 2014-4.2%
Q3 2014-6.9%
Q2 2014-4.3%
Q1 2014+0.1%
Q4 2013+2.5%
Q3 2013+7.0%
Q2 2013+2.1%
Q1 2013-0.8%
Q4 2012+4.5%
Q3 2012-0.5%
Q2 2012+0.1%
Q1 2012-5.1%
Q4 2011-0.3%
Q3 2011-11.8%
Q2 2011+2.0%
Q1 2011+4.5%
Q4 2010+3.8%
Q3 2010+0.4%
Q2 2010-4.3%
Q1 2009+2.0%
Q1 2010+1.2%
Q2 2009-1.3%
Q4 2009-1.3%
Q4 2007-1.3%
Q3 2009-1.3%
Q3 2008-1.3%
Q4 2008-1.3%

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