Regal-Beloit (RBC) Tops Q3 EPS by 7c; Guides In-Line
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Regal Beloit Corporation Announces Third Quarter 2016 Financial Results
November 7, 2016 7:00 AM ESTBELOIT, Wis., Nov. 7, 2016 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC) today reported third quarter 2016 diluted earnings per share of $1.32. Third quarter 2016 adjusted diluted earnings per share* were $1.31.
Key financial results for the third quarter 2016 included:
Total net sales of $809.6 million decreased 8.2% from the prior year and included a negative 0.6% foreign currency translation impact and a negative 0.5% divestiture impact. Income from operations was $89.8 million or 11.1% of net sales which was comparable to the prior year. The prior year operating margin benefitted from a $4.9 million tariff refund... More