Rockwell Automation ROK is the world’s largest company dedicated to industrial automation. Its products, services and solutions address a broad range of challenges in every major industrial sector, from automotive and tire to mining and oil and gas, from pharmaceuticals to food and beverage. Its brands include Allen-Bradley, Reliance Electric and Rockwell Software.Rockwell’s growth and performance strategy seeks to achieve growth rates in excess of the automation market by expanding its served market, diversifying sales streams by broadening portfolio of products, solutions and services, expanding its global presence, growing market share and making acquisitions. Heavy industry end markets including oil and gas have not yet stabilized, and Rockwell Automation foresees continued softness in key emerging markets. In the U.S., its largest market, a strong dollar is adversely affecting producers and OEMs. Moreover, weakness in the mining industry and lack of major projects also remain concerns. However, given weak market conditions, the company does not expect year-over-year growth until later in fiscal 2016. Investors have thus been eagerly awaiting the company’s fiscal 2016 second quarter earnings report. Let’s have a quick look at the earnings release of this Milwaukee, WI-based provider industrial automation power, control, and information solutions.Estimate Trend & Surprise History: The earnings estimate revisions for Rockwell Automation has remained static prior to the earnings release. The Zacks Consensus Estimate for the second quarter of fiscal 2016 currently stands at $1.32. As regards earnings surprise, Rockwell Automation outpaced the Zacks Consensus Estimate in three of the past four quarters, with an average beat of 3.65%.Earnings: Rockwell Automation beat estimates by a margin of 4%. Our consensus called for second quarter fiscal 2016 EPS of $1.32, while the company reported adjusted EPS of $1.37.Revenue: Rockwell Automation also beat on the revenue front. It reported second quarter fiscal 2016 revenues of $1,440 million, ahead of the Zacks Consensus Estimate of $1,397 million.Key Developments to Note: Rockwell Automation narrowed its fiscal 2016 adjusted EPS guidance to $5.75 to $6.15 from the previous range of $5.70 to $6.20. Revenue guidance is however retained at $5.9 billion. This includes a currency headwind of about 3% and an organic sales decline in the range of 1.5-4.5%.Zacks Rank: Currently, Rockwell Automation has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.Market Reaction: Rockwell Automation’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.Check back later for our full write up on this Rockwell Automation earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ROCKWELL AUTOMT (ROK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research