Regal-Beloit (NYSE: RBC) reported Q1 EPS of $0.95, $0.12 worse than the analyst estimate of $1.07. Revenue for the quarter came in at $818 million versus the consensus estimate of $851.52 million.

GUIDANCE:

Regal-Beloit sees FY2016 EPS of $4.40-$4.80, versus the consensus of $4.95.

"The first quarter was a challenging period given a further step-down in oil and gas and overall weak industrial end markets," said Regal Chairman and CEO Mark Gliebe. "Our Simplification programs helped offset the impact of weaker sales on operating profit, and we generated free cash flow of 104% of net income, which we used to pay down $17 million of debt."

2016 Outlook

"As we look ahead to the remainder of 2016, we are positioning the business for a continued challenging industrial environment by accelerating our Simplification programs and implementing tighter cost controls, which we expect to lead to a sequential improvement in margins in the next two quarters.

"Given these market conditions, we have revised our 2016 adjusted diluted earnings per share to be in the range of $4.40 to $4.80," continued Mr. Gliebe.

For earnings history and earnings-related data on Regal-Beloit (RBC) click here.