Rockwell Automation / 3rd quarter
Sales below expectations
Blake Moret, CEO of Rockwell Automation, has published the figures for the third quarter of 2016: with sales of USD 1.5 billion, the provider of industrial automation and information solutions recorded a decline of 6.4% compared to the same quarter of the previous year.
The decline in sales is attributable to the fall in organic sales (minus 4.8%) compared to the same period of the previous year. According to CEO Moret, this was one percentage point below the company's expectations. Currency effects also reduced turnover by 1.8%.
The Architecture & Software division generated revenue of around USD 666 million in the third quarter of 2016. This is 2.5% less than in the same quarter of the previous year (USD 684 million). Organic sales fell by 1.3%, while currency effects reduced sales by 1.6%. The operating result amounted to USD 184 million compared to USD 200 million in the third quarter of 2015. The margin fell to 27.6%. In the same period of the previous year, it was 29.2 %. Rockwell Automation cites lower sales and unfavorable currency effects as the main reasons for this.
In the 'Control Products & Solutions' division, sales amounted to around USD 808 million, which corresponds to a decline of 9.4% compared to the same period of the previous year (USD 892 million). Organic sales fell by 7.5%, while currency effects reduced sales by 1.9%. The operating result amounted to USD 127 million (2015: USD 144 million). At 15.7%, the margin is slightly below the previous year's level (16.1%).
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