REGAL REXNORD REPORTS FOURTH QUARTER 2023 FINANCIAL RESULTS, CAPPING OFF A YEAR OF RECORD ANNUAL ADJUSTED FREE CASH FLOW AND SIGNIFICANT PORTFOLIO TRANSFORMATION
Regal Rexnord Corporation (RRX)
Company Research
Source: PR Newswire
MILWAUKEE, Feb. 7, 2024 /PRNewswire/ -- Regal Rexnord Corporation (NYSE: RRX)Fourth Quarter HighlightsGAAP Diluted EPS Of $0.84 And Adjusted Diluted EPS* Of $2.28, Delivering On Prior CommitmentsStrong Adjusted Free Cash Flow* Of $170.9 MillionPaid Down $116.7 Million Of Gross Debt; Net Debt Declined By $153.2 Million; Net Debt To Pro Forma Adjusted EBITDA (Including Synergies)* Is Now 3.80Sales Up 29.2% Versus PY, Down 6.9% On A Pro Forma Organic Basis*GAAP Net Income Decreased $46.1 Million Versus PY To $56.6 MillionAdjusted EBITDA* Of $346.5 MillionAdjusted EBITDA Margin* Of 21.5% Up 40 Basis Points Versus PY On A Pro Forma Basis* As Synergies And 80/20 More Than Offset End Market Volume HeadwindsFull Year 2023 Highlights Nearly Doubled Adjusted Free Cash Flow Versus PY With A Record $683.1 Million, Above Guidance ExpectationsAchieved Targeted $65 Million Of Synergies; On Track To Achieve $90 Million In 2024GAAP Gross Margin Of 33.1% Up 110 Basis Points Versus 32.0% In 2022Adjusted
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News
- UPDATE 1-Brazil's WEG net profit up 1.6% in Q1, in line with forecasts [Yahoo! Finance]Yahoo! Finance
- An Evolved Business Purpose For A Transformed Regal Rexnord [Yahoo! Finance]Yahoo! Finance
- An Evolved Business Purpose For A Transformed Regal RexnordPR Newswire
- Regal Rexnord's (NYSE:RRX) Dividend Will Be $0.35 [Yahoo! Finance]Yahoo! Finance
- Regal Rexnord Corporation Closes The Sale Of Its Industrial Motors & Generators Business To WEG [Yahoo! Finance]Yahoo! Finance
RRX
Earnings
- 2/7/24 - Beat
RRX
Sec Filings
- 4/29/24 - Form 3
- 4/24/24 - Form 8-K
- 4/16/24 - Form 4
- RRX's page on the SEC website