UPDATE 1-Brazil's WEG net profit up 1.6% in Q1, in line with forecasts [Yahoo! Finance]
Regal Rexnord Corporation (RRX)
Company Research
Source: Yahoo! Finance
net income, matching analyst expectations, on good demand for products used in large-sized projects. WEG's bottom line reached 1.33 billion reais ($256.08 million) in the three months through end-March, the company said in a securities filing, in line with forecasts from analysts polled by LSEG. WEG's management said in a statement that the results were driven by a positive performance of its long-cycle business, which makes equipment used in large projects such as transmission lines and wind power. The company said it has been enjoying "structurally favorable conditions in several markets" where it operates, which allowed it to reach "good results" in the power transmission and distribution segment in Brazil and abroad. On the other hand, revenues declined in Brazil's electric motors business and demand for industrial equipment fell in external markets, hurting WEG's short-cycle unit, which makes products used in smaller projects such as electronic components. Total revenue
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RRX
News
- Regal Rexnord Co. (NYSE: RRX) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Regal Rexnord Corporation (NYSE:RRX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Regal Rexnord Co. (NYSE: RRX) had its price target lowered by analysts at Barclays PLC from $203.00 to $199.00. They now have an "overweight" rating on the stock.MarketBeat
- Regal Rexnord Co. (NYSE: RRX) had its price target raised by analysts at Robert W. Baird from $205.00 to $208.00. They now have an "outperform" rating on the stock.MarketBeat
- Regal Rexnord (RRX) Q1 Earnings Beat Estimates [Yahoo! Finance]Yahoo! Finance
RRX
Earnings
- 5/6/24 - Beat
RRX
Sec Filings
- 5/15/24 - Form 144
- 5/13/24 - Form 4
- 5/13/24 - Form 4
- RRX's page on the SEC website