Regal-Beloit (RBC) Tops Q4 EPS by 10c, Revenues Beat; Offers FY19 EPS Mid-Point Guidance Below Consensus

Regal-Beloit (NYSE: RBC) reported Q4 EPS of $1.41, $0.10 better than the analyst estimate of $1.31. Revenue for the quarter came in at $881.7 million versus the consensus estimate of $865.01 million.

"The fourth quarter was a strong close to a record year. Organic sales were up 5.2% and adjusted EPS were up 23%," said Regal Chairman and CEO Mark Gliebe. "We ended the year with organic sales up 5.7% and adjusted EPS of $6.00, up 23%. Further we had the second consecutive year of improving adjusted operating margin and the eighth consecutive year of free cash flow exceeding adjusted net income."

2019 Outlook

"Looking forward, we are entering the new year with momentum. Overall, we expect continued growth in 2019 despite tougher year-over-year comparisons. We expect a carryover price benefit from 2018, and we expect to see a positive impact from our new products targeted for the upcoming energy efficiency regulations. For 2019, our guidance assumes total year organic growth to be up low to mid-single digits, and we are expecting a third consecutive year of improvement in our adjusted operating margin."

We are expecting adjusted diluted earnings per share of $6.15 to $6.55, which would make 2019 another record year for earnings," continued Mr. Gliebe.

GUIDANCE:

Regal-Beloit sees FY2019 EPS of $6.15-$6.55, versus the consensus of $6.49.

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

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