Regal-Beloit (RBC) Tops Q4 EPS by 19c

Regal-Beloit (NYSE: RBC) reported Q4 EPS of $1.78, $0.19 better than the analyst estimate of $1.59. Revenue for the quarter came in at $780.5 million versus the consensus estimate of $739.46 million.

GUIDANCE:

Regal-Beloit sees Q1 2021 EPS of $1.55-$1.75, versus the consensus of $1.62.

• The Company is providing guidance for the first quarter of 2021, including mid-single digit sales growth, GAAP diluted earnings per share in a range of $1.32 to $1.52, and adjusted diluted EPS in a range of $1.55 to $1.75, which at the mid-point implies 26% growth versus the prior year.
• The Company plans to consider providing annual guidance when it reports first quarter results, at which time management is cautiously optimistic that the most disruptive impacts of COVID-19 will have sustainably subsided and allow it to provide a more useful forecast.
• The Company's guidance assumes no material decline in its production capacity, or in its ability to conduct commercial operations, either from COVID-related disruptions, or other factors, versus levels as of the date of this release.
• The Company's guidance does not take into account any costs, expenses or other effects of the transaction announced today whereby Rexnord will separate its Process & Motion Control business by way of a spin-off to Rexnord shareholders and then immediately combine it with Regal in a Reverse Morris Trust transaction.
• A reconciliation of the Company's GAAP EPS guidance to its adjusted EPS guidance is included in a table later in this release.

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

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