Regal Rexnord reports Q3 adjusted EPS up 18.6% but cuts full-year guidance on weak demand

REGAL REXNORD CORP

2024-Q3 EPS reported $2.32 revenue$4,572,700,000

GAAP EPS $1.09; adjusted EPS $2.49, up 18.6% YoY. Sales $1,477.4M, down 10.4% overall, organic -2.7%.
Record adjusted gross margin 38.4%, adjusted EBITDA margin 22.8% (up 110 bps). Adjusted EBITDA $337M.
Guidance lowered: 2024 GAAP EPS $3.27-$3.57 (from $3.70-$4.10); adjusted EPS $9.15-$9.45 (from $9.40-$9.80).
Debt paydown $114M in Q3, $733M YTD; net debt/adj. EBITDA ~3.6x. On track to pay ~$900M debt in 2024.
Segment: AMC sales -4.1% organic, IPS +0.8% organic, PES -6.2% organic. Enterprise orders up 2.5% YoY.

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