Regal Rexnord Corp reports results for the quarter ended in December - Earnings Summary

Regal Rexnord

08/02/2024 01:47

* Regal Rexnord Corp  RRX.N  reported quarterly adjusted
earnings
of $2.28​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of $2.64.  The mean expectation of eight analysts for the
quarter was for earnings of $2.24 per share. Wall Street
expected results to range from $2.17  to $2.28 per share.
    * Revenue rose 29.2% to $1.61 billion from a year ago;
analysts
expected $1.62 billion. 
    * Regal Rexnord Corp's reported EPS for the quarter was 84
cents​.
    * The company reported quarterly net income of $55.9
million.
    * Regal Rexnord Corp shares had fallen by 7.1% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.5%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electrical
components & equipment peer group is also "buy"

Wall Street's median 12-month price target for Regal Rexnord
Corp is $172.50 
This summary was machine generated from LSEG data February 8 at
01:47 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      2.24           2.28           Beat
 Sep. 30 2023      2.52           2.10           Missed
 Jun. 30 2023      2.46           2.56           Beat
 Mar. 31 2023      2.09           2.22           Beat