Regal Beloit Corporation Announces Third Quarter 2020 Financial Results
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Regal-Beloit (RBC) Tops Q3 EPS by 53c, Revenues Beat; Offers 4Q & FY20 EPS Guidance Above Consensus
October 28, 2020 4:54 PM EDTRegal-Beloit (NYSE: RBC) reported Q3 EPS of $1.73, $0.53 better than the analyst estimate of $1.20. Revenue for the quarter came in at $758.2 million versus the consensus estimate of $704.21 million.
Key financial results for the third quarter 2020 included:
Total net sales of $758.2 million decreased 1.8% from the prior year. Excluding the negative impacts of 0.2% from foreign currency and 0.1% from businesses to be divested/exited, sales declined 1.5% on an organic basis.Income from operations was $90.0 million or 11.9% of net sales. Adjusted income from operations rose $15.7 million or 19.3% from a year ago, to $97.0 million, on a net... More