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RBC Bearings Incorporated manufactures and markets highly engineered precision bearings, components and essential systems for industrial, aerospace and defense markets. Its news commonly covers quarterly results, earnings webcasts, segment trends in Industrial and Aerospace/Defense, gross margin and adjusted operating measures, and demand across regulated or technical bearing applications.
Company updates also include investor conference participation, completed acquisition effects such as VACCO contributions, restructuring or manufacturing-process charges, and debt activity tied to acquisition financing and credit-facility use. The company’s product categories include plain bearings, roller bearings, ball bearings and engineered products.
Rexnord Corporation (NYSE: RXN) announced that stockholders have approved the merger of its Process & Motion Control (PMC) Business with Regal Beloit Corporation (NYSE: RBC) in a Reverse Morris Trust transaction. This decision, revealed at a special meeting of stockholders, aims to enhance scale and create growth opportunities. CEO Todd Adams emphasized the transaction's potential for value creation alongside Rexnord's Water Management segment. The merger's completion is anticipated in early Q4 2021, pending closing conditions.
Regal Beloit Corporation (NYSE: RBC) announced plans to rename its power transmission business to Motion Control Solutions (MCS) following its merger with Rexnord Corporation's Process & Motion Control segment. Kevin J. Zaba, President of PMC, will lead MCS, with Jerry Morton as President, Integration. CEO Louis V. Pinkham expressed confidence in leveraging combined capabilities for growth and integration success. The merger aims to enhance product offerings and operational efficiencies.
Regal Beloit Corporation (NYSE: RBC) and Rexnord Corporation (NYSE: RXN) announced the receipt of a private letter ruling (PLR) from the IRS regarding their merger through a Reverse Morris Trust transaction. This ruling is deemed a crucial milestone in merging Rexnord's Process & Motion Control business with Regal, positioning them as a leading provider of Industrial Powertrain solutions. Shareholder votes are scheduled for September 1st, with a potential closing by early Q4 2021. Current reports will provide further details on the transaction's implications.
Regal Beloit Corporation (NYSE: RBC) announced the planned appointment of Theodore D. Crandall and Robin A. Walker-Lee to its Board of Directors, contingent upon the merger with Rexnord Corporation's Process & Motion Control segment (PMC). The merger is expected to close in the second half of 2021. Crandall brings extensive financial experience from Rockwell Automation, while Walker-Lee offers significant legal and global business expertise. Their appointments aim to enhance board diversity and support the integration of Regal and Rexnord PMC.
Regal Beloit Corporation (NYSE: RBC) reported significant financial growth in Q2 2021, with a sales increase of 40% YOY and a record adjusted operating margin of 14.0%, up 460 bps from the prior year. Adjusted diluted EPS reached $2.28, a 140% YOY increase. Daily orders rose 57% in Q2, tracking mid-20's in July. The company anticipates an adjusted EPS range of $8.70 to $9.00 for 2021. The merger with Rexnord PMC remains on track for Q3 2021, expected to yield over $1 billion in adjusted EBITDA by 2022.
Regal Beloit Corporation (NYSE: RBC) announced a dividend of $0.33 per share, declared on July 26, 2021, during the Board of Directors' quarterly meeting. The dividend is set for payment on October 15, 2021, to shareholders of record by October 1, 2021. Regal has consistently paid dividends since January 1961. As a leader in manufacturing electric motors and controls, Regal aims to develop energy-efficient products and solutions across its four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions.
Regal Beloit Corporation (NYSE: RBC) announces a new tiered offering of Perceptiv sensors, software, and services to enhance its IoT solutions. This range includes four product classes tailored for varying asset monitoring needs, from entry-level asset management to advanced Expert Class sensors. Customers can also select from three service tiers: Basic, Standard, and Premium, which include features like AI diagnostics and remote support. This initiative aims to simplify customer experience and improve equipment reliability, ultimately enhancing profitability across multiple industries.
Regal Beloit Corporation (NYSE: RBC) will release its second quarter 2021 financial results on July 28, 2021, after market close. A conference call is scheduled for 9:00 am CST on July 29, 2021, to discuss these results. Interested parties can listen live via the Regal Investors website or by phone. A replay of the webcast and telephone call will be available for three months post the event. Regal Beloit specializes in electric motors, power generation solutions, and energy-efficient systems.
Regal Beloit Corporation, a leader in electric motors and power transmission products, announced enhancements to its industrial powertrain capabilities. This includes a comprehensive range of components designed for energy efficiency and optimized performance in various industrial applications. The company is on track to complete a merger with Rexnord's Process & Motion Control business in Q4, which aims to boost capabilities in higher-torque applications and expand its presence in growth markets like renewable energy and e-commerce. Regal's powertrains are critical in sectors such as mining and materials handling.
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