Industrial automation provider Rockwell Automation plans to spend more than $2 billion on its operations — primarily those in the U.S. — company officials announced in its latest quarterly earnings report.
Rockwell said Wednesday that sales in its fiscal third quarter climbed to $2.14 billion, a 5% increase compared to the previous Q3. Organic sales were up by 4%, while currency translation contributed another 1% to the overall total.
The company’s gross profit also climbed from $795 million to $876 million year-over-year, while net income rose from $231 million to $293 million. Rockwell officials also noted a pre-tax margin of 16%, an increase from the 12.4% margin — which was affected by restructuring charges — in the previous year.
Rockwell upgraded its forecast heading into the final quarter of the year for sales and earnings, although the company still anticipates sales to range between a decline of 2% and an increase of 1%.
“We returned to year-over-year sales growth with a broad set of customer wins in the quarter, including significant brownfield and greenfield opportunities,” Rockwell Chairman and CEO Blake Moret said in a statement.
Moret also said that Rockwell will spend over $2 billion over five years on “our plants, talent and digital infrastructure over the next five years.”
“The majority of this spend is focused on capital investment in the United States,” Moret said.