羅克韋爾自動化公司（Rockwell Automation, Inc., NYSE:ROK）在公佈好於預期的第一季度財報後，股價上漲。 銷售額同比下降8.4%，有機下滑7.6%，爲18.81億美元，與市場預期一致。 業務板塊方面，智能設備銷售額下降13.1%至8.06億美元，軟件與控制下降12.4%至5.29億美元，生命週期服務增長5%至5.46億美元。 總經常性收入（ARR）增長11%。調整後每股收益爲1.83美元，同比下降10%，高於分析師預期的1.59美元。 本季度各業務部門的總運營收益同比下降10%至3.21億美元。運營利潤率略微下降至17.1%（去年同期爲17.3%），主要受到銷售量減少的影響，但部分被成本壓縮和利潤率擴展措施所抵消。 運營現金流增至3.64億美元（去年同期爲3,300萬美元）。自由現金流達到2.93億美元，而去年同期爲3,500萬美元的流出。這主要是由於2025財年第一季度未支付2024財年的激勵補償。 董事長兼首席執行官布萊克·莫雷特（Blake Moret）表示：“從需求的角度來看，我們對本季度訂單表現優於預期感到鼓舞，各地區和業務部門實現了環比增長。雖然宏觀經濟和政策的不確定性仍在影響客戶資本支出計劃，但羅克韋爾在關鍵行業中贏得了價值數百萬美元的戰略訂單，尤其是在美國這一主場市場。” “第一季度的利潤率和每股收益遠超我們本季度的預期，這反映了羅克韋爾重新專注於運營卓越和成本控制所帶來的初步成效，”莫雷特補充道。 公司在季度內回購了0.4百萬股股票，總計耗資9,900萬美元。截至12月31日，現有回購授權剩餘資金爲12億美元。 截至2024年12月31日的十二個月內，投資資本回報率爲14.5%，低於上一年的18.5%，主要由於稅前淨利潤下降。 2025財年展望更新：羅克韋爾預計調整後每股收益爲8.60至9.80美元，略低於市場預估的9.40美元。公司將銷售中值預期從此前的約82億美元下調至約81億美元，市場預估爲82.25億美元。羅克韋爾更新了2025財年的銷售增長範圍爲同比下降5.5%至增長0.5%，主要由於外匯影響約爲負1.5%，並重申有機銷售增長範圍爲同比下降4%至增長2%。 截至週一最後一次檢查時，羅克韋爾股價上漲9.36%，至每股293.51美元。

以上內容來自Benzinga Earnings專欄，原文如下：

Rockwell Automation, Inc. (NYSE:ROK) shares surged after the company reported better-than-expected first-quarter results.

Sales fell 8.4% year over year and slid 7.6% organically to $1.881 billion, in line with the consensus of $1.881 billion.

Segment Details: Intelligent Devices sales declined 13.1% to $806 million, Software & Control fell 12.4% to $529 million, and Lifecycle Services rose 5% to $546 million.

Total ARR grew 11%. Adjusted EPS was $1.83 (-10% YoY), above the analyst consensus of $1.59.

Total segment operating earnings for the quarter fell 10% year-over-year to $321 million. Segment operating margin declined slightly to 17.1% from 17.3%, impacted by lower sales volume, though partially offset by cost reductions and margin expansion efforts.

Operating cash flow was $364 million, up from $33 million year over year. Free cash flow reached $293 million, compared to a $35 million outflow last year. The increase was mainly due to no payout of incentive compensation in the first quarter of fiscal 2025 related to fiscal 2024 performance.

“From a demand perspective, we are encouraged by better-than-expected order performance in the quarter with sequential growth across all regions and business segments. While there is still some macroeconomic and policy uncertainty weighing on customers' capex plans, Rockwell won multi-million dollar strategic orders across key industries, especially in the U.S., our home market,” commented Blake Moret, Chairman and CEO.

“Q1 margins and EPS came in well above our expectations this quarter, reflecting some early benefits of Rockwell’s renewed focus on operational excellence and cost discipline,” added Moret.

The company repurchased 0.4 million shares for $99 million during the quarter. As of December 31, $1.2 billion remained under existing repurchase authorizations.

Return on Invested Capital for the twelve months ended December 31, 2024, was 14.5%, down from 18.5% in the prior year, primarily due to lower pre-tax net income.

FY25 Outlook updates: Rockwell continues to expect adjusted EPS of $8.60 – $9.80 versus the $9.40 estimate.

The company lowered sales midpoint expectations to ~$8.1 billion from the prior view of ~$8.2 billion versus the $8.225 billion estimate.

The company updated fiscal 2025 reported sales growth range to (5.5)% – 0.5% due to ~(1.5)% FX impact to sales, reaffirmed organic sales growth range of (4)% – 2%.

Price Action: ROK shares are trading higher by 9.36% at $293.51 at the last check Monday.

Photo via Shutterstock.