Regal Beloit Corporation Announces Second Quarter 2020 Financial Results
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Regal-Beloit (RBC) Tops Q2 EPS by 28c, Revenues Miss
August 3, 2020 4:30 PM EDTRegal-Beloit (NYSE: RBC) reported Q2 EPS of $0.95, $0.28 better than the analyst estimate of $0.67. Revenue for the quarter came in at $634.1 million versus the consensus estimate of $645.75 million.
Key financial results for the second quarter 2020 included:
Total net sales of $634.1 decreased 27.4% from the prior year. Excluding the negative impacts of 1.2% from foreign currency and 1.5% from businesses to be divested/exited, sales declined 24.7% on an organic basis.Income from operations was $45.9 million or 7.2% of net sales. Adjusted income from operations declined $34.3 million from a year... More