Regal Rexnord Corp Up 5.75% To $149.33 After Earnings Beat

Regal Rexnord Corp (RRX) said after close Wednesday that it earned $2.28 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $1.6 billion, missing estimates by $12 million.

In the same quarter a year ago, the company earned $2.64 per share on revenue of $1.2 billion.

The stock is up 5.75% to $149.33 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Regal Rexnord Corp has performed a little above average during the past few months. Before the report, Regal Rexnord Corp received a Long-Term Technical Rank by InvestorsObserver of 62, putting it in the top half of stocks. The firm set a 52-week low on November 2, 2023 at $97.18 and set a 52-week high on August 1, 2023 at $166.

Regal Beloit Corp is registered with the U.S. Security and Exchange Commission and incorporated in the state of Wisconsin. Regal Beloit Corp is primarely in the business of motors & generators. For financial reporting, their fiscal year ends on January 2nd. This page includes all SEC registration details as well as a list of all documents (S-1, Prospectus, Current Reports, 8-K, 10K, Annual Reports) filed by Regal Beloit Corp. Regal Beloit Corp manufactures electric motors, electrical motion controls, and power generation products. It offers heavy motors with several applications, including categories with variable speed controls and voltage to diversify its product line. Products for the heating, ventilation, and air conditioning market can be vital to move air at the designated temperature. The company has four operating segments: commercial, industrial systems (which contributes the majority of total sales), climate solutions, and power transmission solutions. Original-equipment manufacturers and users of motion control and industrial applications tend to combine the types of motors, controls, and power transmission products offered by Regal Beloit. The majority of sales are derived from the US.