Regal-Beloit (RBC) Tops Q2 EPS by 2c; Updates Outlook

Regal-Beloit (NYSE: RBC) reported Q2 EPS of $1.26, $0.02 better than the analyst estimate of $1.24. Revenue for the quarter came in at $836.6 million versus the consensus estimate of $854.87 million.

"We expect our second half organic sales to be down low single digits from prior year, which is meaningfully better than our first half results. We expect better performance in our Climate businesses and easier comparisons in our oil & gas businesses. Further, we expect our second half earnings to be stronger than the first due to a favorable price/cost impact and incremental savings from our Simplification and cost control initiatives. Even with this second half earnings improvement, our end markets are not improving as much as we anticipated earlier in the year.

GUIDANCE:

Regal-Beloit sees FY2016 EPS of $4.35-$4.55, versus the consensus of $4.52.

For earnings history and earnings-related data on Regal-Beloit (RBC) click here.

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