Regal Rexnord Corp Stock Price, News & Analysis

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Regal Rexnord Corporation (NYSE: RRX) announced on April 24, 2023, that its Board of Directors declared a quarterly dividend of $0.35 per share. This dividend will be payable on July 14, 2023, to shareholders recorded by the close of business on June 30, 2023. Regal Rexnord has consistently paid dividends since January 1961, showcasing its commitment to shareholder returns. The company specializes in factory automation systems, industrial powertrain solutions, and energy-efficient products through its four operating segments: Industrial Powertrain Solutions, Power Efficiency Solutions, Automation & Motion Control, and Industrial Systems. Headquartered in Beloit, Wisconsin, Regal Rexnord has a global reach with manufacturing and service facilities worldwide.

Regal Rexnord Corporation (NYSE: RRX) is set to release its Q1 2023 financial results on May 4, 2023, after market close.

The company will present the results during a conference call scheduled for 9:00 am CT (10:00 am ET) on May 5, 2023. Interested parties can access the call via the Regal Rexnord Investor website or by phone.

This earnings call will provide insights into Regal Rexnord's performance across its segments, which include Industrial Powertrain Solutions, Power Efficiency Solutions, Automation & Motion Control, and Industrial Systems. The company is recognized for its commitment to energy-efficient solutions.

On March 27, 2023, Regal Rexnord completed its acquisition of Altra Industrial Motion for $4.95 billion, enhancing its automation portfolio and positioning it for accelerated growth. The merger is expected to generate $160 million in annual cost synergies by year four and is aimed at achieving a net debt/EBITDA ratio below 2.5x by 2025. Regal Rexnord anticipates significant revenue growth in secular markets, with pro forma revenue projections reaching $8.3 billion by 2025 and adjusted EPS of ~$18. The company aims for an adjusted gross margin of ~40% in 2025, up from 33% in 2022, driven by improved product mix and operational efficiencies.

Regal Rexnord Corporation (NYSE: RRX) announced the expiration of its cash tender offer and consent solicitation for the 6.125% Senior Notes due 2026, with the final deadline on March 22, 2023. As of the expiration date, the corporation accepted $365,560,000 of the notes, representing 95.28% of the outstanding principal. Payment for the accepted notes is scheduled for March 27, 2023. The total consideration for each $1,000 of the notes is $1,017.50, which includes an early participation premium. J.P. Morgan Securities LLC acted as Dealer Manager for the offer. The announcement indicates significant interest in the tender offer, enhancing Regal Rexnord's financial flexibility.

Regal Rexnord Corporation (NYSE: RRX) announced the extension of its cash tender offer and consent solicitation for the outstanding 6.125% Senior Notes due 2026, increasing the expiration date to 5:00 p.m. New York City time on March 21, 2023. Holders have until the new expiration date to tender their Notes. As of March 20, 2023, tenders of approximately $365.56 million, or 95.28% of the total outstanding Notes, have been received. This tender offer is subject to certain conditions, including the completion of a merger with Altra Industrial Motion Corp. The total consideration for the Notes is set at $1,017.50 per $1,000 principal amount.

Regal Rexnord Corporation (NYSE: RRX) has announced an extension of its cash tender offer and consent solicitation for its 6.125% Senior Notes due 2026. The expiration date is now set for March 20, 2023, following an initial date of March 13, 2023. As of the latest update, holders have tendered approximately $361.1 million of the $383.7 million total outstanding notes, representing about 94.12% of the total amount. The tender offer is contingent on the successful completion of a merger involving Regal Rexnord's subsidiary, Aspen Sub, Inc., and Altra Industrial Motion Corp. Interest will also be paid in addition to the tender consideration.

Regal Rexnord Corporation (NYSE: RRX) announced the successful completion of its cash tender offer and consent solicitation for the 6.125% Senior Notes due 2026, with tenders totaling $361,122,000, representing approximately 94.12% of the total outstanding principal. The company received the necessary consents for amendments to the indenture, eliminating restrictive covenants related to a merger with Altra Industrial Motion Corp. This completion is a step toward the proposed merger, and payment for the tendered Notes is contingent on certain conditions being met. The Tender Offer's terms will remain in effect and may be amended further.