Regal-Beloit (RBC) Tops Q3 EPS by 53c, Revenues Beat; Offers 4Q & FY20 EPS Guidance Above Consensus
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Regal Beloit Corporation Announces Third Quarter 2020 Financial Results
October 28, 2020 4:05 PM EDTBELOIT, Wis., Oct. 28, 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 third quarter 2020 diluted earnings per share of $1.60 compared to $1.19 a year ago. Third quarter 2020 adjusted diluted earnings per share* were $1.73 compared to $1.35 a year ago.
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... More