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Regal Rexnord Corporation manufactures engineered motion products, including electric motors, air-moving subsystems, power transmission components, controllers, drives, precision motors and actuators. Its reported segments include Automation & Motion Control, Industrial Powertrain Solutions and Power Efficiency Solutions, with end markets spanning discrete automation, food and beverage, aerospace and defense, medical, data center, energy, buildings, general industrial, and metals and mining.
Company news commonly covers orders, backlog, sales, earnings, segment demand, quarterly dividend declarations, investor conference participation and leadership succession. Updates also describe conditions in short-cycle distribution, OEM channels, commercial HVAC, data center demand and broader industrial automation markets.
Regal Rexnord Corporation (NYSE: RRX) announced a private placement of senior unsecured notes to qualified institutional buyers as part of its strategy to finance its acquisition of Altra Industrial Motion Corp. The proceeds will be used to fund the merger, repay Altra's debts, and cover related expenses. The notes offering is not contingent on the merger's completion, which may occur afterward. The company emphasizes its commitment to energy-efficient industrial solutions, while cautioning against risks related to the merger and financial obligations, including significant debt incurred from the acquisition.
Regal Rexnord Corporation (NYSE: RRX) announced the appointment of Michael P. Doss to its Board of Directors, expanding the board from ten to eleven members. Doss has extensive experience as the President and CEO of Graphic Packaging Holding Company, which has a market cap of $9.4 billion. His term on the board will last until the 2023 annual shareholders meeting. Both Regal Rexnord's CEO and Board Chairman expressed confidence that Doss's leadership will enhance the company’s strategic growth and shareholder value.
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Regal Rexnord Corporation (NYSE: RRX) announced plans to explore strategic alternatives for its Motors and Generators businesses within the Industrial Systems segment. CEO Louis Pinkham highlighted significant improvements in adjusted EBITDA margins, up 700 basis points, and strong revenue growth. The strategic review may lead to a divestiture of these assets, focusing on finding a better owner. Guggenheim Securities is advising on this review. Regal Rexnord specializes in industrial powertrain solutions and has a global manufacturing and service footprint.
Regal Rexnord Corporation (NYSE: RRX) has completed the first phase of financing for its acquisition of Altra Industrial Motion Corp., securing $1.1 billion through amendments to its credit agreement. CEO Louis Pinkham expressed optimism about the financing, citing strong bank market support. The financing includes a $500 million upsized revolving credit facility and $600 million in incremental term loan commitments, enhancing liquidity and flexibility for integrating Altra. The company aims to leverage the acquisition for future growth while maintaining an investment-grade credit profile.
Regal Rexnord Corporation (NYSE: RRX) will present at the Baird 2022 Global Industrial Conference in Chicago on November 9, 2022, at 12:00 PM CT. CEO Louis Pinkham and CFO Rob Rehard will lead the presentation. Interested parties can access presentation materials and a live webcast on the Company’s investor relations website. Regal Rexnord is a leader in industrial powertrain solutions and is committed to energy efficiency across its four segments: Motion Control Solutions, Climate Solutions, Commercial Systems, and Industrial Systems.
Regal Rexnord Corporation (NYSE: RRX) announced investment grade ratings from major credit agencies. Moody's assigned a Long-Term Issuer Rating of Baa3 and Fitch a BBB- rating, both with stable outlooks. Additionally, S&P assigned a BB+ Issuer Credit Rating. These ratings support Regal Rexnord's acquisition plans for Altra Industrial Motion Corp. The CEO highlighted that these ratings validate the strong credit profile and expected synergy, while aiming for a net leverage target of 2.0-2.5x by 2024.
Regal Rexnord Corporation reported a 48% increase in sales for Q3 2022 compared to the previous year, with an 8% organic growth. Although daily orders declined by 3.6%, the backlog rose nearly 70% since 2021. Adjusted EBITDA margin improved to 20.9%, while adjusted EPS was $2.66, down from $2.88 in the previous year. The company raised its 2022 guidance for adjusted EPS to a range of $10.35 to $10.75. CEO Louis Pinkham emphasized strong execution despite macroeconomic challenges.
On October 28, 2022, Regal Rexnord Corporation (NYSE: RRX) declared a quarterly dividend of $0.35 per share, payable on January 13, 2023. Shareholders must be on record by the close of business on December 30, 2022. Regal Rexnord has maintained a consistent dividend payout since January 1961. The company excels in engineering and manufacturing industrial powertrain solutions and energy-efficient systems, contributing positively to both customers and environmental sustainability.
Regal Rexnord Corporation (NYSE: RRX) has announced its definitive agreement to acquire Altra Industrial Motion Corp. (Nasdaq: AIMC) for $62.00 per share, valuing Altra at $4.95 billion. The transaction is projected to accelerate Regal Rexnord's automation portfolio, with expected annualized cost synergies of $160 million by year four. Pro forma revenue for 2022 is anticipated to reach $7.2 billion, increasing to $8.3 billion by 2025, along with improved EBITDA margins. The acquisition aims to enhance shareholder value and capitalize on growth opportunities across various markets.