Regal-Beloit (RBC) Tops Q1 EPS by 22c, Withdraws Outlook

Regal-Beloit (NYSE: RBC) reported Q1 EPS of $1.31, $0.22 better than the analyst estimate of $1.09. Revenue for the quarter came in at $734.2 million versus the consensus estimate of $751.48 million.

2020 Outlook

In light of the COVID-19 pandemic, which creates significant uncertainty around, among other factors, the demand environment for the Company's products in the near- and mid-term, the Company is withdrawing its previously communicated guidance for the full year 2020 for revenue growth and adjusted EPS. The Company will be vigilantly monitoring the impacts of COVID-19 on the Company's end markets, manufacturing footprint, and supply chain, and will seek to re-introduce guidance as soon as the Company believes it can provide a forecast that is useful for the investment community.

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

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