Rockwell Automation, Inc. (NYSE:ROK) Q1 2024 Earnings Call Transcript

Blake Moret: We’re really talking about variability that could be in the area of weeks or a month. I wouldn’t read too much into talking middle of the year versus second quarter. We did see a good double-digit sequential increase in orders in Q1. We expect that again in Q2. January represents a sequential increase based on what we’ve seen so far from Q1. And so we continue to see that inventory at our distributors coming down pretty much as we expected.

Nick Gangestad: Yes, Joe, I’ll just add. I mean, we’re obviously in close dialogue with all of our distributors, and a high percentage of them are affirming to us that they expect to be done with — they’re reducing excess inventory sometime during Q2 and that they’re at an equilibrium point there.

Joe O’Dea: That’s really helpful. Thank you.

Aijana Zellner: Thank you, everyone, for joining us today. That concludes today’s conference call.

Operator: At this time, you may disconnect. Thank you.