Rockwell Automation beats profit estimates on digital consulting demand
Feb 10 (Reuters) - Rockwell Automation ROK.N on Monday posted a higher-than-expected profit for the first quarter, helped by its lifecycle services unit which caters to digital consulting and services including cybersecurity, remote monitoring, and asset management.
Shares of the Milwaukee-based company jumped more than 9% before the bell.
"We continue to expect gradual sequential improvement in our sales and margins as we move through this fiscal year, including potential impacts from tariffs," said Rockwell CEO Blake Moret.
Peer Emerson also beat first-quarter profit estimates last week, fueled by resilient demand in its valves and regulators unit.
Sales at Rockwell's lifecycle services unit rose 5% to $546 million in the quarter ended December 31, from a year earlier.
On an adjusted basis, Rockwell reported a quarterly profit per share of $1.83, compared with analysts' average estimates of $1.59 per share, according to data compiled by LSEG.
Quarterly revenue fell about 8.3% to $1.88 billion, which was in line with estimates.
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