Regal-Beloit (RBC) Tops Q2 EPS by 28c, Revenues Miss
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Regal Beloit Corporation Announces Second Quarter 2020 Financial Results
August 3, 2020 4:26 PM EDTBELOIT, Wis., Aug. 3, 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 second quarter 2020 diluted earnings per share of $0.69 compared to $1.55 a year ago. Second quarter 2020 adjusted diluted earnings per share* were $0.95 compared to $1.49 a year ago.
Key financial results for the second quarter 2020 included:
Total net sales of $634.1 decreased 27.4% from the prior year. Excluding the negative impacts of 1.2% from foreign currency and 1.5% from businesses to be divested/exited, sales declined... More