Regal-Beloit (RBC) Tops Q2 EPS by 2c; Updates Outlook
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Regal Beloit Corporation Announces Second Quarter 2016 Financial Results
August 8, 2016 4:15 PM EDTBELOIT, Wis., Aug. 8, 2016 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC) today reported second quarter 2016 diluted earnings per share of $1.26. Second quarter 2016 adjusted diluted earnings per share* were $1.14.
Key financial results for the second quarter 2016 included:
Total net sales of $838.6 million decreased 11.0% from the prior year and included a negative 1.0% foreign currency translation impact and a negative 0.2% divestiture impact. Operating profit of $91.4 million decreased 11.4% from the prior year benefitting from the gain on sale of the Mastergear business. Adjusted operating profit of $81.5 million decreased 27.5% from... More