Aug 6 (Reuters) - Rockwell Automation ( ROK ) raised the
lower end of its annual profit forecast, banking on demand for
automation services coupled with cost-saving measures.
Automation demand remains strong among U.S. companies across
sectors, as they revamp their factory floors to help with labor
shortages.
In May, Rockwell said it would offset existing and
additional tariff costs through pricing and supply chain
actions.
Peer Emerson Electric ( EMR ) also said it expected a
slightly stronger annual profit.
Rockwell now expects its annual adjusted profit per share to
be in the range of $9.80 to $10.20, compared to the prior
expectation of $9.20 to $10.20.
On an adjusted basis, Rockwell's third-quarter profit per
share rose to $2.82, compared with $2.71 a year earlier.
Analysts on average expected the company to report a profit of
$2.67 per share, according to data compiled by LSEG.
Overall, quarterly revenue rose about 4.5% to $2.14 billion.