Regal Beloit Corporation Announces Record Second Quarter 2021 Financial Results
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Regal-Beloit (RBC) Tops Q2 EPS by 24c; Raises Outlook
July 28, 2021 4:51 PM EDTRegal-Beloit (NYSE: RBC) reported Q2 EPS of $2.28, $0.24 better than the analyst estimate of $2.04. Revenue for the quarter came in at $886.9 million versus the consensus estimate of $824.59 million.
CEO Louis Pinkham commented, "Regal's performance in Q2 was very strong setting a record for operating margin two quarters in a row and exceeding our expectations with organic sales growth YOY approaching 40% and up low-single digits compared to 2019. This drove adjusted operating margin expansion of nearly 500 basis points versus prior year to a record 14.0%, resulting in adjusted... More
