Regal-Beloit (RBC) Misses Q1 EPS by 12c, Guides Below the Street
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Regal Beloit Corporation Announces First Quarter 2016 Financial Results
May 9, 2016 4:16 PM EDTBELOIT, Wis., May 9, 2016 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC) today reported first quarter 2016 diluted earnings per share of $0.93. First quarter 2016 adjusted diluted earnings per share* were $0.95.
Key financial results for the first quarter 2016 included:
Total net sales of $818 million decreased 10.3% from the prior year including a negative foreign currency translation impact of 1.3%. Adjusted operating profit of $70.7 million decreased 20.6% from the prior year driven by lower volume partially offset by benefits from the Simplification initiative and cost controls. Free cash flow was 104% of... More