Regal Rexnord Q3 adj EPS $2.10, cuts FY adjusted EPS to $9.05-$9.25, sells motors biz for $400M

REGAL REXNORD CORP

2023-Q3 EPS reported -$1.71 revenue$4,642,500,000

GAAP diluted EPS -$2.10 (incl. $173.7M impairment); adjusted diluted EPS $2.10.
FY2023 adjusted EPS guidance lowered to $9.05-$9.25 from $10.20-$10.60; free cash flow reaffirmed >$650M.
Agreed to sell Industrial Motors & Generators for $400M; expected to be mix accretive to margins by >100bps.
Pro forma organic sales down 8.5%; adjusted EBITDA margin 20.6%, down 10bps YoY on pro forma basis.
Paid down $185M gross debt in Q3; net debt to normalized adj EBITDA 3.86x.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REGAL REXNORD CORP updated its third quarter ended September 30, 2023 guidance (lowered).

Period: third quarter ended September 30, 2023
Guidance: lowered
Result: reported results

Exact text from the filing

On November 1, 2023, Regal Rexnord Corporation (the "Company") issued a news release reporting the financial results of the Company for its third quarter ended September 30, 2023.

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6 earnings releases filed in the last 30 days. Browse all earnings releases →

REGAL REXNORD CORP filing history →

Source: SEC EDGAR

accession 0000082811-23-000187

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