Regal Beloit Corporation Announces Third Quarter 2019 Financial Results
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Regal-Beloit (RBC) Tops Q3 EPS by 2c, Revenues Miss; Lowers FY19 EPS Guidance
November 4, 2019 7:06 AM ESTRegal-Beloit (NYSE: RBC) reported Q3 EPS of $1.35, $0.02 better than the analyst estimate of $1.33. Revenue for the quarter came in at $772.3 million versus the consensus estimate of $809.15 million.
Key financial results for the third quarter 2019 included:
Total net sales of $772.3 million decreased 16.5% from the prior year and included a negative 0.7% impact from foreign currency and a negative 6.2% impact from businesses divested/to be exited. The result was a negative organic sales growth rate of 9.6%.Income from operations was $72.8 million or 9.4% of net sales, up 190 basis points from prior year. Adjusted income from... More