Regal-Beloit (RBC) Tops Q1 EPS by 27c, Revenues Beat; Offers 2Q EPS Guidance Above Consensus
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Regal Beloit Corporation Announces Record First Quarter 2021 Financial Results
May 3, 2021 4:05 PM EDTBELOIT, Wis., May 3, 2021 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC), a global leader in the engineering and manufacturing of power transmission solutions and high-efficiency electric motors and systems, reported first quarter 2021 diluted earnings per share of $1.60 compared to $1.12 a year ago, up 43%. First quarter 2021 adjusted diluted earnings per share was a record $1.98 compared to $1.31 a year ago, up 51%.
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... More