Regal Rexnord rises on new 3-year financial targets

Regal Rexnord

17/09/2024 15:43

** Regal Rexnord's shares  RRX.N  rise 6% to $165.17 in
early market hours 
    ** The industrial motor and powertrain products maker
introduces financial targets for 2024-2027, including organic
net sales growth at CAGR of 2%-5% for the period
    ** Sees adjusted diluted earnings per share growth at a low
double digit compound annual growth rate (CAGR)
    ** Co reiterates FY 2024 guidance, including sales of $6.2
bln, EPS in range of $3.70-$4.10, and adjusted EPS in range of
$9.40-$9.80
    ** However, says "lower half of outlook range is more
likely" based on recent performance
    ** YTD, stock had risen 11.6%

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))