Welcome to our dedicated page for Rockwell Automat news (Ticker: ROK), a resource for investors and traders seeking the latest updates and insights on Rockwell Automat stock.
Rockwell Automation reports developments in industrial automation and digital transformation, including factory-floor control products, smart manufacturing software, and lifecycle services for industrial customers.
Recurring news covers quarterly results and guidance, dividend declarations, board and governance updates, investor conference appearances, and customer or partner deployments involving PlantPAx, Plex Smart Manufacturing Platform, and other automation technologies. Company updates also describe applications in refrigeration optimization, food production, warehouse automation, data centers, semiconductors, energy, cybersecurity, remote monitoring, and plant maintenance.
Rockwell Automation (NYSE: ROK) is contributing to the sustainability of the electric vehicle (EV) industry through its work with the Resolution Copper Project, a joint venture between Rio Tinto and BHP. The project aims to extract copper from a deposit that could supply nearly 25% of US copper demand, with enough copper to manufacture almost 220 million EVs by 2040.
Rockwell's solutions have helped Resolution Copper achieve significant energy savings and increased system efficiency. By implementing variable speed drives and distributed control systems, the project has seen a 5% increase in system efficiency and a 10% decrease in utility costs since July 2023. These improvements translate to about $1 million in annual savings, which Resolution Copper plans to reinvest in other sustainability initiatives.
Rockwell Automation (NYSE: ROK) has launched Logix SIS, a revolutionary safety instrumented system for industrial environments. This cutting-edge system offers SIL 2 and SIL 3 certifications for enhanced process and hybrid safety. Logix SIS integrates a process logic-solver and I/O, providing high availability with proven Rockwell Automation hardware.
Key features include:
- Modern SIL 2 and SIL 3 solutions for comprehensive safety
- High availability for continuous critical process operation
- Streamlined implementation using familiar hardware and software
- Reduced engineering time through simplified design
- Upgradability without planned downtime
Rockwell Automation (NYSE:ROK), a leader in industrial automation and digital transformation, has announced a $1 billion share repurchase authorization approved by its Board of Directors. This is in addition to the previous $1 billion authorization from May 2022, of which $353 million remained as of September 5, 2024. CEO Blake Moret emphasized the company's commitment to shareholder value, noting that Rockwell has returned nearly $4.7 billion to shareholders through dividends and share repurchases over the past five years. This move highlights Rockwell's strong financial position and focus on disciplined capital allocation.
Rockwell Automation (NYSE: ROK) announces participation in the Morgan Stanley 12th Annual Laguna Conference on September 12, 2024, in Dana Point, California. Chairman and CEO Blake Moret and SVP and CFO Christian Rothe will represent the company in a fireside chat. The presentation is scheduled to begin at 12:15 p.m. PDT and will be accessible via webcast on the company's Investor Relations website.
This event provides an opportunity for investors and analysts to gain insights into Rockwell Automation's strategies and performance directly from top executives. The webcast availability ensures wider access to the presentation for those unable to attend in person.
Rockwell Automation (NYSE: ROK) has opened registration for Automation Fair 2024, set to take place from November 18-21 at the Anaheim Convention Center in California. This premier industrial automation and digital transformation event will feature four full days of innovations, learning opportunities, and networking.
Highlights include daily keynotes, an expansive expo with over 120 interactive exhibits, 450+ hours of advanced training, 400+ domain expert presenters, and 275+ educational sessions. The event also offers hands-on labs, product demonstrations, and off-site tours to local cutting-edge industrial facilities.
Automation Fair 2024 aims to inspire and empower attendees to overcome production challenges, enhance resilience, agility, and sustainability in their industries.
Rockwell Automation (NYSE:ROK) has appointed Emmanuel Guilhamon as the new Vice President of Sustainability, effective July 1. In this role, Guilhamon will lead the company's global sustainability strategy, focusing on three key outcomes: sustainable customers, a sustainable company, and sustainable communities.
Guilhamon will head the corporate sustainability team, providing thought leadership and collaborating with internal and external partners to deliver on Rockwell's Environmental, Social, and Governance (ESG) commitments. He will also facilitate the development of solutions to help manufacturers achieve their sustainability goals.
Becky House, Senior Vice President and Chief People and Legal Officer, praised Guilhamon's contributions to the business, highlighting his knowledge of customers and technology, as well as his passion for the role of industrial automation and digital transformation in driving sustainability.
Rockwell Automation (NYSE:ROK) collaborated with Cimento Itambé to implement model predictive control (MPC) technology in cement production, addressing challenges in kiln control and management. The project, completed in two phases, yielded significant results:
Phase 1 (Kilns, 2022):
- 5% increase in productivity
- 2% reduction in energy use per kiln
- More stable temperatures
Phase 2 (Grinding Operations, 2023):
- 5% reduction in energy usage
- 5-10% increase in productivity
- Fewer disruptions in feeding and high vibration-related stops
The implementation of MPC technology has enabled Cimento Itambé to standardize operational processes, improve equipment availability, and reduce energy consumption in cement manufacturing.
Rockwell Automation (NYSE: ROK) reported Q3 2024 results with sales down 8.4% year-over-year to $2,051 million. Organic sales decreased 8.4%, while total ARR grew 17%. Diluted EPS fell 41.4% to $2.02, including a $0.46 restructuring charge. Adjusted EPS decreased 10% to $2.71. The company updated its fiscal 2024 guidance, now expecting:
- Reported sales growth of ~(8.5%)
- Organic sales growth of ~(10%)
- Diluted EPS of ~$8.32
- Adjusted EPS of ~$9.60
The reduced outlook reflects project delays due to weaker consumer demand, high interest rates, and policy uncertainty. Despite challenges, Rockwell sees progress in inventory de-stocking and expects continued sequential order growth in Q4 and into the next fiscal year.
Genpact (NYSE: G) has appointed Nicholas "Nick" Gangestad to its Board of Directors, effective August 12th, 2024. Gangestad, currently the Senior Vice President and Chief Financial Officer at Rockwell Automation, will serve on Genpact's Board's Audit Committee. With over 30 years of finance and business expertise, Gangestad brings valuable insights to Genpact's board, particularly in finance and financial operations. Prior to his role at Rockwell Automation, he served as the Chief Financial Officer at 3M. Genpact's Chairman, Jim Madden, and President and CEO, Balkrishan "BK" Kalra, expressed enthusiasm about Gangestad's appointment, highlighting his expertise in finance and its potential to enhance the company's capabilities in serving clients.
Rockwell Automation (NYSE:ROK) is collaborating with Italian drilling-rig specialist Drillmec to enhance efficiency and reduce emissions in carbon capture, usage, and storage (CCUS) facilities. Drillmec's innovative storage technologies, powered by Rockwell's PowerFlex® AC drives, enable more precise and targeted drilling for CCUS entry points. This collaboration aims to make the creation of new CCUS facilities faster, easier, safer, and more cost-effective.
The partnership focuses on optimizing drilling workflows to minimize emissions and maximize efficiency. Drillmec's vice president of marketing, Mohamed Housny, emphasized the importance of Rockwell's technology and expertise in achieving the required intelligence, precision, and control for their new drilling technology. This initiative supports Drillmec's goal of developing solutions that leverage their drilling and rig expertise to reduce emissions and meet environmental objectives.