
Industrial automation provider Rockwell Automation plans to spend more than $2 billion on its operations — primarily those in the U.S. — company officials announced in its latest quarterly earnings report.
Rockwell said Wednesday that sales in its fiscal third quarter climbed to $2.14 billion, a 5% increase compared to the previous Q3. Organic sales were up by 4%, while currency translation contributed another 1% to the overall total.
The company’s gross profit also climbed from $795 million to $876 million year-over-year, while net income rose from $231 million to $293 million. Rockwell officials also noted a pre-tax margin of 16%, an increase from the 12.4% margin — which was affected by restructuring charges — in the previous year.
Rockwell upgraded its forecast heading into the final quarter of the year for sales and earnings, although the company still anticipates sales to range between a decline of 2% and an increase of 1%.
“We returned to year-over-year sales growth with a broad set of customer wins in the quarter, including significant brownfield and greenfield opportunities,” Rockwell Chairman and CEO Blake Moret said in a statement.
Moret also said that Rockwell will spend over $2 billion on “our plants, talent and digital infrastructure over the next five years.”
“The majority of this spend is focused on capital investment in the United States," Moret said.