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

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

Regal Beloit Corporation Announces First Quarter 2020 Financial Results

May 4, 2020 4:05 PM EDT

BELOIT, Wis., May 4, 2020 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC), a global leader in the engineering and manufacturing of high-efficiency electric motors and power transmission products, reported first quarter 2020 GAAP diluted earnings per share of $1.12 compared to $1.99 a year ago. First quarter 2020 adjusted diluted earnings per share* were $1.31 compared to $1.40 a year ago.

Key financial results for the first quarter 2020 included:

Total net sales of $734.2 decreased 14.0% from the prior year. Excluding the negative impacts of 0.7% from foreign currency and 3.5% from businesses to be divested/exited, sales... More