- the availability and price of components and materials;
- macroeconomic factors, including inflation, global and regional business conditions (including adverse impacts in certain markets, such as Oil & Gas), commodity prices, currency exchange rates, the cyclical nature of our customers’ capital spending, and sovereign debt concerns;
- the severity and duration of disruptions to our business due to pandemics (including the COVID-19 pandemic), natural disasters (including those as a result of climate change), acts of war (including the Russia and Ukraine conflict), strikes, terrorism, social unrest or other causes, including the impacts of the COVID-19 pandemic and efforts to manage it on the global economy, liquidity and financial markets, demand for our hardware and software products, solutions, and services, our supply chain, our work force, our liquidity and the value of the assets we own;
- the availability and cost of capital;
- our ability to attract, develop, and retain qualified personnel;
- the successful integration and management of strategic transactions and achievement of the expected benefits of these transactions;
- laws, regulations, and governmental policies affecting our activities in the countries where we do business, including those related to tariffs, taxation, trade controls (including sanctions placed on Russia), cybersecurity, and climate change;
- the availability, effectiveness, and security of our information technology systems;
- our ability to manage and mitigate the risk related to security vulnerabilities and breaches of our hardware and software products, solutions, and services;
- the successful development of advanced technologies and demand for and market acceptance of new and existing hardware and software products;
- our ability to manage and mitigate the risks associated with our solutions and services businesses;
- the successful execution of our cost productivity initiatives;
- competitive hardware and software products, solutions, and services, pricing pressures, and our ability to provide high quality products, solutions, and services;
- disruptions to our distribution channels or the failure of distributors to develop and maintain capabilities to sell our products;
- intellectual property infringement claims by others and the ability to protect our intellectual property;
- the uncertainty of claims by taxing authorities in the various jurisdictions where we do business;
- the uncertainties of litigation, including liabilities related to the safety and security of the hardware and software products, solutions, and services we sell;
- risks associated with our investment in common stock of PTC Inc., including the potential for volatility in our reported quarterly earnings associated with changes in the market value of such stock;
- our ability to manage costs related to employee retirement and health care benefits; and
- other risks and uncertainties, including but not limited to those detailed from time to time in our Securities and Exchange Commission (SEC) filings.
Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 26,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing The Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.
ROCKWELL AUTOMATION, INC. SALES AND EARNINGS INFORMATION (in millions, except per share amounts and percentages) |
||||||||||||||||
|
|
Three Months Ended September 30, |
|
Twelve Months Ended September 30, |
||||||||||||
|
|
|
2022 |
|
|
|
2021 |
|
|
|
2022 |
|
|
|
2021 |
|
Sales |
|
|
|
|
|
|
|
|
||||||||
Intelligent Devices (a) |
|
$ |
957.4 |
|
|
$ |
857.1 |
|
|
$ |
3,544.6 |
|
|
$ |
3,311.9 |
|
| Software & Control (b) |
|
|
657.2 |
|
|
|
494.1 |
|
|
|
2,312.9 |
|
|
|
1,947.0 |
|
| Lifecycle Services (c) |
|
|
511.7 |
|
|
|
456.6 |
|
|
|
1,902.9 |
|
|
|
1,738.5 |
|
| Total sales (d) |
|
$ |
2,126.3 |
|
|
$ |
1,807.8 |
|
|
$ |
7,760.4 |
|
|
$ |
6,997.4 |
|
| Segment operating earnings |
|
|
|
|
|
|
|
|
||||||||
| Intelligent Devices (e) |
|
$ |
213.2 |
|
|
$ |
166.3 |
|
|
$ |
717.6 |
|
|
$ |
702.1 |
|
| Software & Control (f) |
|
|
227.0 |
|
|
|
119.8 |
|
|
|
666.7 |
|
|
|
531.0 |
|
| Lifecycle Services (g) |
|
|
54.7 |
|
|
|
37.1 |
|
|
|
158.3 |
|
|
|
158.2 |
|
| Total segment operating earnings (1) (h) |
|
|
494.9 |
|
|
|
323.2 |
|
|
|
1,542.6 |
|
|
|
1,391.3 |
|
| Purchase accounting depreciation and amortization |
|
|
(25.8 |
) |
|
|
(17.4 |
) |
|
|
(103.9 |
) |
|
|
(55.1 |
) |
| Corporate and other |
|
|
(35.1 |
) |
|
|
(33.0 |
) |
|
|
(104.7 |
) |
|
|
(120.6 |
) |
| Non-operating pension and postretirement benefit credit (cost) |
|
|
0.3 |
|
|
|
(15.5 |
) |
|
|
(4.7 |
) |
|
|
(63.8 |
) |
| Change in fair value of investments |
|
|
1.4 |
|
|
|
(227.2 |
) |
|
|
(136.9 |
) |
|
|
397.4 |
|
| Legal settlement |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
70.0 |
|
| Interest expense, net |
|
|
(29.9 |
) |
|
|
(25.8 |
) |
|
|
(118.8 |
) |
|
|
(93.0 |
) |
| Income before income taxes (i) |
|
|
405.8 |
|
|
|
4.3 |
|
|
|
1,073.6 |
|
|
|
1,526.2 |
|
| Income tax (provision) benefit |
|
|
(69.8 |
) |
|
|
70.3 |
|
|
|
(154.5 |
) |
|
|
(181.9 |
) |
| Net income |
|
|
336.0 |
|
|
|
74.6 |
|
|
|
919.1 |
|
|
|
1,344.3 |
|
| Net loss attributable to noncontrolling interests |
|
|
(2.9 |
) |
|
|
(3.9 |
) |
|
|
(13.1 |
) |
|
|
(13.8 |
) |
| Net income attributable to Rockwell Automation, Inc. |
|
$ |
338.9 |
|
|
$ |
78.5 |
|
|
$ |
932.2 |
|
|
$ |
1,358.1 |
|
|
|
|
|
|
|
|
|
|
|
||||||||
| Diluted EPS |
|
$ |
2.91 |
|
|
$ |
0.67 |
|
|
$ |
7.97 |
|
|
$ |
11.58 |
|
|
|
|
|
|
|
|
|
|
|
||||||||
| Adjusted EPS (2) |
|
$ |
3.04 |
|
|
$ |
2.33 |
|
|
$ |
9.49 |
|
|
$ |
9.43 |
|
|
|
|
|
|
|
|
|
|
|
||||||||
| Average diluted shares for diluted EPS |
|
|
115.8 |
|
|
|
117.2 |
|
|
|
116.7 |
|
|
|
117.1 |
|
|
|
|
|
|
|
|
|
|
|
||||||||
| Segment operating margin |
|
|
|
|
|
|
|
|
||||||||
| Intelligent Devices (e/a) |
|
|
22.3 |
% |
|
|
19.4 |
% |
|
|
20.2 |
% |
|
|
21.2 |
% |
| Software & Control (f/b) |
|
|
34.5 |
% |
|
|
24.2 |
% |
|
|
28.8 |
% |
|
|
27.3 |
% |
| Lifecycle Services (g/c) |
|
|
10.7 |
% |
|
|
8.1 |
% |
|
|
8.3 |
% |
|
|
9.1 |
% |
| Total segment operating margin (1) (h/d) |
|
|
23.3 |
% |
|
|
17.9 |
% |
|
|
19.9 |
% |
|
|
19.9 |
% |
| Pre-tax margin (i/d) |
|
|
19.1 |
% |
|
|
0.2 |
% |
|
|
13.8 |
% |
|
|
21.8 |
% |
| (1) Total segment operating earnings and total segment operating margin are non-GAAP financial measures. We exclude purchase accounting depreciation and amortization, corporate and other, non-operating pension and postretirement benefit credit (cost), change in fair value of investments, the $70 million legal settlement in fiscal 2021, interest expense, net, and income tax (provision) benefit because we do not consider these items to be directly related to the operating performance of our segments. We believe total segment operating earnings and total segment operating margin are useful to investors as measures of operating performance. We use these measures to monitor and evaluate the profitability of our operating segments. Our measures of total segment operating earnings and total segment operating margin may be different from measures used by other companies. |
| (2) Adjusted EPS is a non-GAAP earnings measure that excludes purchase accounting depreciation and amortization, non-operating pension and postretirement benefit credit (cost), change in fair value of investments, and net loss attributable to noncontrolling interests, including their respective tax effects. See "Other Supplemental Information - Adjusted Income, Adjusted EPS, and Adjusted Effective Tax Rate" section for more information regarding non-operating pension and postretirement benefit credit (cost) and a reconciliation to GAAP measures. |
