Rockwell Automation Targets Cost Savings Amid Slower Order Growth
Rockwell Automation reported its third-quarter fiscal 2024 earnings, revealing strong operational performance but slower-than-expected order growth. The company announced significant cost reduction measures, expecting to save $100 million in the second half of the year and an additional $120 million in fiscal year 2025. Despite challenges, sales and margins exceeded expectations, with a focus on productivity and margin expansion. However, Rockwell Automation has adjusted its fiscal year 2024 guidance, anticipating a decline in organic sales and adjusted EPS.
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