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

Regal Rexnord

01/08/2024 01:10

* Regal Rexnord Corp  RRX.N  reported quarterly adjusted
earnings
of $2.29​​ per share for the quarter ended in June, lower than
the same quarter last year, when the company reported EPS of
$2.56.  The mean expectation of nine analysts for the quarter
was for earnings of $2.13 per share. Wall Street expected
results to range from $2.08  to $2.19 per share.
    * Revenue fell 12.5% to $1.55 billion from a year ago;
analysts
expected $1.53 billion. 
    * Regal Rexnord Corp's reported EPS for the quarter was 94
cents​.
    * The company reported quarterly net income of $62.5
million.
    * Regal Rexnord Corp shares had risen by 17.2% this
quarter and
gained 7.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 17.1%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 1
"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 $191.00 
This summary was machine generated from LSEG data August 1 at
12:10 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
 Jun. 30 2024      2.13           2.29           Beat
 Mar. 31 2024      1.99           2.00           Beat
 Dec. 31 2023      2.24           2.28           Beat
 Sep. 30 2023      2.52           2.10           Missed