Regal Beloit: 3Q Earnings Snapshot
BELOIT, Wis. (AP) _ Regal Beloit Corp. (RBC) on Monday reported third-quarter net income of $49.7 million.
The Beloit, Wisconsin-based company said it had net income of $1.19 per share. Earnings, adjusted for restructuring costs and non-recurring costs, were $1.35 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The maker of controls for electric motors posted revenue of $772.3 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $825.4 million.
Regal Beloit expects full-year earnings in the range of $5.45 to $5.55 per share.
Regal Beloit shares have risen slightly more than 9% since the beginning of the year. The stock has risen slightly more than 1% in the last 12 months.