07:51 AM EDT, 05/07/2024 (MT Newswires) -- Rockwell Automation ( ROK ) reported fiscal Q2 adjusted earnings Tuesday of $2.50 per diluted share, down from $3.01 a year earlier.

Analysts polled by Capital IQ expected $2.16.

Revenue for the quarter ended March 31 was $2.13 billion, down from $2.28 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.05 billion.

Rokwell said it has lowered its fiscal 2024 adjusted earnings guidance to $10 to $11 per diluted share, from $12 to $13.50. Analysts polled by Capital IQ expect $11.92.

Sales for the current fiscal year are now projected to drop between 4% and 6%, Rokwell said. The company previously guided for sales growth of 0.5% to 6.5%.

Additionally, the company said its chief financial officer, Nicholas Gangestad, plans to retire. The company said it has started the search for his successor, and he will remain in his position until a new CFO is appointed.

The company's shares were down more than 5% in recent Tuesday premarket activity.

Price: 262.70, Change: -14.69, Percent Change: -5.30