Nick Heymann, Analyst with William Blair & Co., says Rockwell Automation (ROK) had what he believes was the best fundamental performance in Q2 in the global industrial infrastructure sector. He attributes much of Rockwell’s success to Mexico.
“Rockwell is a company that enjoyed really strong representation across an extremely broad set of end markets and was able to, because of its broad geographic and end-market representation, report notably stronger performance even with the adverse impact from foreign currency and oil and gas and natural resources,” Heymann says. “However, Rockwell generated solid growth in many geographic regions and end markets it serves, even in South America, where they’re actually enjoying some of their strongest growth this year.”
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Heymann says Rockwell is seeing strong growth from its ability to help improve the efficiency of its customers’ existing mines, pulp and paper mills and smelting plants.
“This is in sharp contrast to new greenfield mines and plants, which are clearly more limited in number, particularly in South America currently,” Heymann says.
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