Regal-Beloit (RBC) Tops Q4 EPS by 19c
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Regal Beloit Corporation Announces Fourth Quarter 2020 Financial Results
February 16, 2021 6:31 AM ESTBELOIT, Wis., Feb. 16, 2021 /PRNewswire/ --Â Regal Beloit Corporation (NYSE: RBC), a global leader in the engineering and manufacturing of high-efficiency electric motors and power transmission products, reported fourth quarter 2020 diluted earnings per share of $1.23 compared to $0.89 a year ago. Fourth quarter 2020 adjusted diluted earnings per share* were $1.78 compared to $1.25 a year ago. Full year 2020 diluted earnings per share were $4.64. Full year 2020 adjusted diluted earnings per share were $5.77.
Key financial results for the fourth quarter 2020 included:
Total net sales of $780.5 million increased 5.7% from the prior year. Excluding the... MoreRegal To Combine With Rexnord's PMC Segment, Creating World-Class Power Transmission Provider
February 16, 2021 6:30 AM ESTBELOIT, Wis. and MILWAUKEE, Feb. 16, 2021 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC) and Rexnord Corporation (NYSE: RXN) today announced that they have reached a definitive agreement whereby Rexnord will separate its Process & Motion Control ("PMC") segment by way of a tax-free spin-off to Rexnord shareholders and then immediately combine it with Regal in a Reverse Morris Trust ("RMT") transaction. Regal shareholders will own 61.4% and Rexnord shareholders will own 38.6% of the combined entity ("New Regal"), before a potential dividend to Regal shareholders and a corresponding ownership... More
