Regal-Beloit (NYSE: RBC) reported Q2 EPS of $1.29, $0.01 better than the analyst estimate of $1.28. Revenue for the quarter came in at $869.2 million versus the consensus estimate of $853.2 million.

2017 Outlook

"Our order trends remain positive, and we continue to expect low single digit organic sales growth for the full year. We are raising our 2017 adjusted diluted earnings per share guidance to $4.70 to $5.00 from our previous guidance of $4.55 to $4.95," continued Mr. Gliebe.

The Company forecasts 2017 GAAP diluted earnings per share of $4.51 to $4.81. Additionally, the Company has updated its forecast on 2017 full year effective tax rate to 22% from the previous forecast of 23%.

Key financial results for the second quarter 2017 included:

• Total net sales of $869.2 million increased 3.6% from the prior year and included a negative 0.7% foreign currency translation impact and a negative 0.5% divestiture impact. The result was a positive organic sales growth rate of 4.8%.
• Income from operations was $83.0 million or 9.5% of net sales. Adjusted income from operations was $90.4 million or 10.4% of net sales up 70 basis points from the prior year.
• Effective tax rate of 21.6% impacted by restructuring and related costs.
• Net cash provided by operating activities was $98.4 million and capital expenditures totaled $16.7 million, resulting in free cash flow of $81.7 million or 154.2% of net income.
• The Company paid down $70.3 million of debt and repurchased $21.0 million of common stock.

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