Regal Rexnord Q1 Adj EPS $2.00, revenue $1.55B, closes Industrial Systems sale, updates FY guidance

REGAL REXNORD CORP

2024-Q1 EPS reported $0.30 revenue$1,547,700,000

GAAP Diluted EPS $0.30, Adjusted Diluted EPS $2.00; revenue $1,547.7M (up 26.4% YoY, down 7.5% pro forma organic).
Adjusted EBITDA $317.4M, margin 20.5% (+100 bps pro forma YoY). Synergies $26M, on track for $90M in 2024.
Closed sale of Industrial Systems business; net proceeds to reduce debt. Paid down $135M gross debt in Q1.
FY2024 guidance: GAAP EPS $3.97-$4.77, Adjusted EPS $9.60-$10.40. Adj. free cash flow target $700M; Q1 generated $64.6M.
Segment organic sales: AMC -4.5%, IPS -1.0%, PES -17.8% (weak North America HVAC), Industrial Systems sold.

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 0.95

REGAL REXNORD CORP reported first quarter ended March 31, 2024 results: revenue $1,547.7 million, net income $20.4 million, EPS $0.30.

Period: first quarter ended March 31, 2024
Revenue: $1,547.7 million
Net income: $20.4 million
EPS: $0.30
Result: reported results

Exact text from the filing

Adjusted Diluted EPS* Of $2.00 • Adjusted Free Cash Flow* Of $64.6 Million; On Track To Full Year Outlook Of $700 Million • Paid Down $135.0 Million Of Gross Debt • Sales Of $1,547.7 Million, Up 26.4% Versus PY, Down 7.5% On A Pro Forma Organic Basis • GAAP Gross Margin Of 35.7%; Adjusted Gross Margin* Of 36.5% Versus PY Of 33.5% On A Pro Forma Basis* • GAAP Net

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Source: SEC EDGAR

accession 0000082811-24-000086

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