Regal Rexnord reports Q2 adjusted EPS $2.29, revenue $1.55B; cuts FY adjusted EPS guidance to $9.40-$9.80

REGAL REXNORD CORP

2024-Q2 EPS reported $1.23 revenue$3,095,300,000

GAAP diluted EPS $0.94, adjusted diluted EPS $2.29; revenue $1,547.6M down 12.5% YoY.
Organic sales (ex-Industrial) down 7.0%; adjusted EBITDA margin ex-Industrial 22.2%, down 50 bps.
FY 2024 adjusted EPS guidance lowered to $9.40-$9.80 from $9.60-$10.40; GAAP EPS $3.70-$4.10 from $3.97-$4.77.
Paid down $480.9M gross debt in Q2; net debt/adj. EBITDA ~3.6x; on track for ~$900M debt paydown in year.
Orders inflected positive in Q2; Investor Day set for Sept 17, 2024 in NYC.

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