Rockwell Falls After Forecasting 2016 Earnings May Decline
- CEO says growth may not start until later in the year
- Industrial customers are postponing capital expenditures
This article is for subscribers only.
Rockwell Automation Inc. fell the most in more than two months after the maker of factory-efficiency software said earnings and sales may decline in fiscal 2016 as customers postpone capital investments.
Adjusted earnings per share may be $5.90 to $6.40 on sales of about $6 billion, the company said Tuesday. Profit for the year just ended was $6.40 a share, while revenue was $6.3 billion. Analysts had expected $6.71 in 2016 earnings and $6.41 billion in sales, according to the average of estimates compiled by Bloomberg.