For the second straight quarter, Milwaukee-based Rockwell Automation increased its fiscal year guidance, now projecting that its revenue could top $9 billion this year.
Rockwell, a maker of industrial automation and digital transformation products, saw a strong increase in orders over the past year. Combined with supply chain challenges, especially for semiconductor components, the company’s order backlog ballooned.
As Rockwell works through the backlog, it has seen strong sales growth and has been able to increase its outlook for the year. In January, after the first quarter of its fiscal year, the company increased the midpoint of its guidance from a 9.5% increase to a 12% increase.