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

Regal Rexnord

02/11/2023 20:25

* Regal Rexnord Corp  RRX.N  reported quarterly adjusted
earnings
of $2.10​​ per share for the quarter ended in September, lower
than the same quarter last year, when the company reported EPS
of $2.66.  The mean expectation of eight analysts for the
quarter was for earnings of $2.52 per share. Wall Street
expected results to range from $2.44  to $2.55 per share.
    * Revenue rose 24.5% to $1.65 billion from a year ago;
analysts
expected $1.73 billion. 
    * Regal Rexnord Corp's reported EPS for the quarter was a
loss of
$2.10​.
    * The company reported a quarterly loss of $139.5 million.
    * Regal Rexnord Corp shares had fallen by 17.3% this
quarter and
lost 1.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7% in
the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "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 $191.50 
This summary was machine generated from LSEG data November 2 at
08:24 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      2.52           2.10           Missed
 Jun. 30 2023      2.46           2.56           Beat
 Mar. 31 2023      2.09           2.22           Beat
 Dec. 31 2022      2.39           2.64           Beat