Welcome to our dedicated page for Rbc Bearings news (Ticker: RBC), a resource for investors and traders seeking the latest updates and insights on Rbc Bearings stock.
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.
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Regal Beloit Corporation (NYSE: RBC) reported second quarter 2020 diluted earnings per share of $0.69, down from $1.55 last year. Total net sales fell 27.4% to $634.1 million, impacted by foreign currency and divestitures, while organic sales declined 24.7%. Adjusted income from operations decreased to $59.5 million, with the operating margin at 9.4%. The company anticipates third quarter sales to drop 8%-12% compared to last year due to ongoing COVID-19 impacts. Regal emphasizes strong free cash flow of $77.4 million, equivalent to 255.4% of adjusted net income.
On July 27, 2020, Regal Beloit Corporation (NYSE: RBC) declared a quarterly dividend of $0.30 per share, payable on October 9, 2020, to shareholders of record by September 25, 2020. This marks the continuation of their commitment to returning value to shareholders, having paid dividends consistently since January 1961. Regal Beloit is a global leader in electric motors and controls, manufacturing power generation and transmission products.
Regal Beloit Corporation (NYSE: RBC) plans to release its Q2 2020 financial results on August 3, 2020, after market close. A conference call to discuss the earnings will take place on August 4, 2020, at 9:00 AM CT (10:00 AM ET). To access the call, visit Regal's Investors website. Additionally, a webcast and telephone replay will be available for three months following the earnings call. Regal Beloit, headquartered in Beloit, Wisconsin, is a leader in electric motors and energy-efficient solutions.