August 29, 2016 10:03 PM ET

Electrical Equipment

Company Overview of Regal Beloit Corporation

Company Overview

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products in the United States and internationally. Its Commercial and Industrial Systems segment provides AC and DC motors, and controls; motors, electronic variable speed controls, and blowers; and starters, contactors, relays, variable frequency drives and motors, artificial lift system pumping equipment, and integrated solutions of components. This segment also offers precision stator and rotor kits; hazardous duty motors; and electric generators, automatic transfer switches, power generation and distribution switch g...

200 State Street

Beloit, WI 53511

United States

Founded in 1955

26,200 Employees

Phone:

608-364-8800

Fax:

608-364-8816

Key Executives for Regal Beloit Corporation

Chairman and Chief Executive Officer
Age: 55
Total Annual Compensation: $947.5K
Chief Financial Officer and Vice President
Age: 62
Total Annual Compensation: $486.3K
Chief Operating Officer
Age: 50
Total Annual Compensation: $586.3K
Vice President of Corporate Human Resources
Age: 60
Total Annual Compensation: $356.3K
Compensation as of Fiscal Year 2015.

Regal Beloit Corporation Key Developments

Regal Beloit Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 2, 2016; Provides Earnings Guidance for the Second Half and Full Year of 2016

Regal Beloit Corporation announced unaudited consolidated earnings results for the second quarter and six months ended July 2, 2016. For the quarter, the company reported net income attributable to company of $56.6 million or $1.26 per diluted share on net sales of $838.6 million compared to net income attributable to company of $62.8 million or $1.39 per diluted share on net sales of $942.2 million reported in the same period last year. Income from operations was $91.4 million against $103.2 million reported last year. Income before taxes was $77.8 million against $87.7 million reported last year. Net cash provided by operating activities was $116.1 million against $118.2 million reported last year. Additions to property, plant and equipment were $16.8 million against $23.5 million reported last year. Adjusted income from operations was $81.5 million against $112.4 million reported last year. Free Cash Flow was $99.3 million against $94.7 million reported last year. Adjusted net sales were $849.9 million. For the six months, the company reported net income attributable to company of $98.2 million or $2.19 per diluted share on net sales of $1,656.8 million compared to net income attributable to company of $99.2 million or $2.20 per diluted share on net sales of $1,853.9 million reported in the same period last year. Income from operations was $160.7 million against $166.8 million reported last year. Income before taxes was $133.2 million against $138.9 million reported last year. Net cash provided by operating activities was $174.3 million against $135.7 million reported last year. Additions to property, plant and equipment were $31.7 million against $44.7 million reported last year. Adjusted income from operations was $152.2 million against $201.4 million reported last year. Free Cash Flow was $142.6 million against $91.0 million reported last year. Adjusted diluted earnings per share was $2.09 against $2.74 reported last year. Adjusted net sales were $1,644.1 million. The company expects second half organic sales to be down low single digits from prior year, which is meaningfully better than first half results.  The company expects better performance in Climate businesses and easier comparisons in oil & gas businesses.  Further, the company expects second half earnings to be stronger than the first due to a favorable price/cost impact and incremental savings from Simplification and cost control initiatives.  Even with this second half earnings improvement, company’s end markets are not improving as much as anticipated earlier in the year. Accordingly, the company has revised its guidance for 2016 adjusted diluted earnings per share to $4.35 to $4.55. 2016 annual EPS is expected to be $4.32 to $4.52. Capital expenditures to be $80 million.

Regal Beloit Corporation Presents at Jefferies 2016 Industrials Conference, Aug-10-2016 08:40 AM

Regal Beloit Corporation Presents at Jefferies 2016 Industrials Conference, Aug-10-2016 08:40 AM. Venue: Grand Hyatt New York, 109 E. 42nd Street, New York, NY 10017, United States.

Regal Beloit Corporation Announces Quarterly Dividend Payable on October 14, 2016

Regal Beloit Corporation announced that the Board of Directors, at its regular quarterly meeting held on July 28, 2016, declared a dividend of $0.24 per share. The dividend is payable on October 14, 2016, to shareholders of record at the close of business on September 30, 2016.

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