Regal Beloit Corporation Announces Record First Quarter 2021 Financial Results
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Regal-Beloit (RBC) Tops Q1 EPS by 27c, Revenues Beat; Offers 2Q EPS Guidance Above Consensus
May 3, 2021 4:16 PM EDTRegal-Beloit (NYSE: RBC) reported Q1 EPS of $1.98, $0.27 better than the analyst estimate of $1.71. Revenue for the quarter came in at $814.1 million versus the consensus estimate of $784.93 million.
Key financial results for the first quarter 2021 included:
Total net sales of $814.1 million increased 10.9% from the prior year. Excluding the positive impacts of 1.8% from foreign currency, sales increased 9.1% on an organic basis.Income from operations was $97.1 million or 11.9% of net sales, up 240 bps versus prior year. Adjusted income from operations rose $33.9 million or 42.8% from a year ago, to $113.1 million. Adjusted... More