Rockwell Plunges Most Since Start of Pandemic on Supply Snags

Rockwell Automation Inc., a provider of control devices and software for industrial automation, fell the most in more than two years as it blamed supply-chain snags for crimping sales and profit.

Since January, “we’ve seen supplier push-outs and de-commits for electronic component shipments, the impact of unexpected Covid-related shutdowns in China, and Russia start a war in Ukraine,” Chief Executive Officer Blake Moret said on a conference call with analysts to discuss earnings.