Regal-Beloit (RBC) Tops Q3 EPS by 7c; Guides In-Line
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Regal-Beloit (NYSE: RBC) reported Q3 EPS of $1.32, $0.07 better than the analyst estimate of $1.25. Revenue for the quarter came in at $809.6 million versus the consensus estimate of $826 million.
Regal-Beloit sees FY2016 EPS of $4.40-$4.50, versus the consensus of $4.39.
"Our results for the third quarter were generally in line with our expectations. Sales were down due to weak global industrial end markets and the ongoing challenges in oil & gas, but were partially offset by a strong HVAC cooling season," said Regal Chairman and CEO Mark Gliebe. "Despite the weaker sales, we maintained our operating margin as compared to the prior year and generated very strong free cash flow, which we used to pay down $105 million of debt in the quarter."
For earnings history and earnings-related data on Regal-Beloit (RBC) click here.
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