Welcome to our dedicated page for Regal Rexnord news (Ticker: RRX), a resource for investors and traders seeking the latest updates and insights on Regal Rexnord stock.
Regal Rexnord Corporation (NYSE: RRX) is a Milwaukee-based manufacturer focused on industrial powertrain solutions, power transmission components, electric motors, electronic controls, air-moving products and automation technologies. This news page aggregates company announcements, earnings updates and other disclosures that help investors and industry followers track how Regal Rexnord is performing across its Automation & Motion Control, Industrial Powertrain Solutions and Power Efficiency Solutions segments.
News coverage for Regal Rexnord commonly includes quarterly and annual financial results, earnings conference call details, segment performance commentary and guidance updates. The company regularly issues press releases about orders and trends in key end markets such as data centers, discrete automation, food and beverage, aerospace, medical, energy, residential and commercial buildings, general industrial, and metals and mining. These updates often highlight order momentum, project timing, and demand conditions across its segments.
Regal Rexnord also releases news about capital allocation and shareholder returns, including quarterly dividend declarations, as well as information about leadership changes and governance matters. Announcements may cover executive appointments or transitions, CEO succession processes and participation in investor conferences. In addition, the company provides updates related to sustainability, emissions reduction and safety metrics through its news releases.
By following this RRX news feed, readers can review a chronological record of Regal Rexnord’s public communications, from financial results and outlook commentary to strategic initiatives described in its press releases. This page is a convenient way to monitor how the company describes developments in its markets, its operating performance and its priorities across automation, motion control, powertrain and power efficiency solutions.
Regal Rexnord (NYSE: RRX) reported strong Q2 2024 results with GAAP Diluted EPS of $0.94 and Adjusted Diluted EPS of $2.29. The company generated $136.4 million in Adjusted Free Cash Flow and is on track to meet its full-year outlook of ~$700 million. Sales were $1,547.6 million, down 12.5% year-over-year, with an Adjusted EBITDA of $335.3 million. RRX paid down $480.9 million of gross debt and is progressing towards its goal of ~$900 million debt reduction this year. The company updated its 2024 guidance, now expecting GAAP Diluted EPS of $3.70 to $4.10 and Adjusted Diluted EPS of $9.40 to $9.80.
Regal Rexnord (NYSE: RRX) has declared a quarterly dividend of $0.35 per share, payable on October 11, 2024, to shareholders of record at the close of business on September 27, 2024. This announcement, made by CEO Louis Pinkham, continues the company's tradition of paying dividends every quarter since January 1961.
Regal Rexnord is a global company with 30,000 associates, specializing in sustainable solutions for powering, transmitting, and controlling motion. The company operates in three segments: Industrial Powertrain Solutions, Power Efficiency Solutions, and Automation & Motion Control. Its products serve various end markets benefiting from secular demand trends, including factory automation, aerospace, medical, and alternative energy.
Regal Rexnord (NYSE: RRX) will release its second quarter 2024 financial results after market close on July 31, 2024. The company will hold an earnings conference call on August 1, 2024, at 9:00 am CT (10:00 am ET) to discuss the results. Participants can join via a live webcast on Regal Rexnord's Investor website or by phone. Replays will be available for three months.
Regal Rexnord, headquartered in Milwaukee, offers electric motors, air moving subsystems, power transmission components, and automation solutions. It operates through three segments: Industrial Powertrain Solutions, Power Efficiency Solutions, and Automation & Motion Control. The company serves markets including factory automation, aerospace, food & beverage, medical, and more.
Regal Rexnord (NYSE: RRX) has unveiled the next generation of its Perceptiv™ Intelligent Reliability and Maintenance Solution for industrial manufacturing. This new platform integrates machine condition monitoring with predictive maintenance, using in-field sensors and gateways to collect data sent to customers' systems or the Perceptiv Web Platform for analysis. Key improvements include a unified architecture leveraging Microsoft Azure, a new Universal Gateway, and enhanced sensor compatibility. Benefits include reduced failures, extended machine life, and increased energy efficiency, potentially saving customers $250,000 annually on average.
Regal Rexnord reported strong first-quarter 2024 financial results, with a focus on debt reduction and portfolio transformation. The company sold its Industrial Systems business, leading to net proceeds used for debt reduction. Despite market headwinds in the PES segment, the company remains cautiously optimistic and continues to work on value creation opportunities.
Key financial highlights include a GAAP EPS of $0.30 and adjusted diluted EPS of $2.00, sales of $1,547.7 million, adjusted free cash flow of $64.6 million, and adjusted EBITDA of $317.4 million. The company is updating its annual guidance for 2024, with GAAP diluted EPS to range from $3.97 to $4.77 and adjusted diluted EPS from $9.60 to $10.40.
Regal Rexnord announced its evolved business purpose after completing the sale of its Industrial Motors and Generators businesses, marking the end of a strategic portfolio transformation. The Company's portfolio now focuses on industrial power transmission, factory automation solutions, and high-efficiency electric motors and air moving subsystems. With a shift towards more innovative, industry-leading products, Regal Rexnord aims to achieve a 40% adjusted gross margin by 2025. The new purpose emphasizes sustainable solutions that power, transmit, and control motion, reflecting the Company's commitment to growth and value creation.
Regal Rexnord announced the closure of the sale of its Industrial Motors and Generators business to WEG S.A., totaling $400 million, with plans to use the proceeds to reduce debt. The Company focuses on providing sustainable solutions for motion control and operates in various end markets.
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