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Shares of Regal Beloit (NYSE:RBC) were flat in after-market trading after the company reported Q2 results.
Earnings per share decreased 37.50% year over year to $0.95, which beat the estimate of $0.67.
Revenue of $634,100,000 decreased by 27.42% year over year, which missed the estimate of $645,750,000.
Regal Beloit hasn't issued any earnings guidance for the time being.
Q3 revenue expected between $679,624,000 and $710,516,000.
Recent Stock Performance
52-week high: $94.99
52-week low: $51.99
Price action over last quarter: Up 30.92%
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.
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