Rockwell Automation, Inc. (ROK) Q2 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 3, 2022 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Thank you for holding and welcome to Rockwell Automation's Quarterly Conference Call. I need to remind everyone that today's conference call is being recorded. Later in the call, we will open up the lines for questions.

At this time, I would like to turn the call over to Jessica Kourakos, Head of Investor Relations. Ms. Kourakos, please go ahead.

Jessica Kourakos - Head, IR

Thanks Rob. Good morning and thank you for joining us for Rockwell Automation's Second Quarter Fiscal 2022 Earnings Release Conference Call. With me today is Blake Moret, our Chairman and CEO; and Nick Gangestad, our CFO.

Our results were released earlier this morning and the press release and charts have been posted to our website. Both the press release and charts included in our call today will reference non-GAAP measures. Both the press release and charts include reconciliations of these non-GAAP measures. A webcast of this call will be available on our website for replay for the next 30 days.

For your convenience, a transcript of our prepared remarks will also be available on our website at the conclusion of today's call. Additional information and news about our company can also be found on Rockwell's Investor Relations Twitter feed using the handles @investorsrok, that's @investorsrok.

Before we get started, I need to remind you that our comments will include statements related to the expected future results of our company and are therefore forward-looking statements. Our actual results may differ materially from our projections due to a wide range of risks and uncertainties that are described in our earnings release and detailed in all of our SEC filings.

So, with that, I'll hand the call over to Blake.

Blake Moret - Chairman & CEO

Thanks Jessica and good morning everyone. Thank you for joining us today. Before providing detail on second quarter results, which were below our expectations, I want to provide general comments on the business environment. Through the first half of our fiscal ,year two themes stand out. The first is broad-based demand growth across industries, geographies, and offerings. Substantial backlog in all three business segments, low cancellation rates, and detailed component supply forecasts give us confidence that we will achieve double-digit revenue growth this fiscal year and reach $9 billion of profitable sales in the next couple of years.