Regal-Beloit Corp. (RBC) Tops Q1 EPS by 1c

Regal-Beloit Corp. (NYSE: RBC) reported Q1 EPS of $1.04, $0.01 better than the analyst estimate of $1.03. Revenue for the quarter came in at $801.2 million versus the consensus estimate of $794.06 million.

Sees Q2 EPS of $1.24-$1.32, versus the consensus of $1.26.

"We had solid results in a number of our key businesses in the first quarter including North American HVAC, power generation, Europe and China," said Regal Chairman and CEO Mark Gliebe. "Our profitability for the quarter was in line with our expectations as we continued to execute on our Simplification initiative by consolidating our manufacturing footprint, our design platforms and our ERP systems. Last week we were pleased to announce a 10% increase in our dividend, reflecting our confidence in the future as well as our commitment to returning value to our shareholders."

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

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