Regal Beloit Corporation Announces Record Second Quarter 2021 Financial Results
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Second Quarter Highlights
Record Adjusted Operating Margin of 14.0% Up 460 bps versus PY (GAAP Operating Margin 12.3%)
Achieving 300-in-3
Record Adjusted Diluted EPS of $2.28 Up 140% versus PY (GAAP Diluted EPS of $1.94)
Daily Orders Up 57% in 2Q and Tracking up Mid-20 s in July versus PY
Net Debt to Adjusted EBITDA of 0.7x, with Free Cash Flow of $73.5M for Conversion of 90.3%
Expect 2021 Adjusted Diluted EPS Range of $8.70 to $9.00 (GAAP Diluted EPS Range of $7.29 to $7.59)
Update on Rexnord PMC Merger
Closing is On Track for the Second Half of 2021
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Regal Beloit Corporation Announces Record First Quarter 2021 Financial Results
- Sales Growth Accelerates, Up 10.9% Versus PY and Up 9.1% on an Organic Basis
- Record Adjusted Operating Margin of 13.9% Up 310 bps versus PY (GAAP Operating Margin 11.9%)
- Record Adjusted Diluted EPS of $1.98 Up Over 50% versus PY (GAAP Diluted EPS of $1.60)
- Raised Quarterly Dividend in April by 10% to $0.33
- Daily Orders Up 17% in 1Q and Up Almost 90% in April versus PY
- Net Debt to Adjusted EBITDA of 0.9x
- Announced Transformational Merger with Rexnord s PMC Business; On Track to Close in 4Q 2021
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Regal Beloit Corporation Announces Fourth Quarter 2020 Financial Results
- Revenue Growth Turned Firmly Positive
- Incremental Margins of 54% Supported Further Sizable Operating Margin Gains
- Free Cash Flow of $108 Million, Cash Flow Conversion at 175%
- Company to Host Earnings Conference Call at 9:00 AM CT Today
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BELOIT, Wis., Feb. 16, 2021 /PRNewswire/ Regal Beloit Corporation (NYSE: RBC), a global leader in the engineering and manufacturing of high-efficiency electric motors and power transmission products, reported fourth quarter 2020 diluted earnings per share of $1.23 compared to $0.89 a year ago. Fourth quarter 2020 adjusted diluted earnings per share were $1.78 compared to $1.25 a year ago. Full year 2020 diluted earnings per share were $4.64. Full year 2020 adjusted diluted earnings per share were $5.77.