Rockwell Automation Q4 sales up 20.5% YoY, adj. EPS $3.64; FY2024 guides adj. EPS $12.00-$13.50

Fiscal 2023 fourth quarter sales were $2,563 million, up 20.5% compared to $2,126 million in the fourth quarter of fiscal 2022. Organic sales increased 17.7%, currency translation increased sales by 1.4%, and acquisitions increased sales by 1.4%. Fiscal 2023 fourth quarter net income attributable to Rockwell Automation was $303 million or $2.61 per share, compared to $338.9 million or $2.91 per share in the fourth quarter of fiscal 2022. The decreases in net income attributable to Rockwell Automation and EPS were primarily due to a non-cash accounting charge for impairment of goodwill for our Sensia joint venture ("the Sensia goodwill impairment"), partially offset by higher total segment operating earnings. Fiscal 2023 fourth quarter adjusted EPS was $3.64, up 19.7% compared to $3.04 in the fourth quarter of fiscal 2022, primarily due to higher sales, partially offset by higher investment spend and incentive compensation.

Sales were $9,058 million in fiscal 2023, up 16.7% from $7,760 million in fiscal 2022. Organic sales increased 16.9%, currency translation decreased sales by 1.4%, and acquisitions increased sales by 1.2%. Page 2 Fiscal 2023 net income attributable to Rockwell Automation was $1,387 million or $11.95 per share, compared to $932 million or $7.97 per share in fiscal 2022. The increases in net income and EPS attributable to Rockwell Automation were primarily due to higher total segment operating earnings and fair value adjustments related to our previous investment in PTC ("the PTC adjustments"), partially offset by the Sensia goodwill impairment. Fiscal 2023 Adjusted EPS was $12.12, up 27.7% compared to $9.49 in fiscal 2022.

Fiscal 2024 guidance: ◦ Reported sales growth of 0.5% - 6.5%; organic sales growth of (2.0)% - 4.0% ◦ Diluted EPS $11.49 - $12.99; Adjusted EPS $12.00 - $13.50