AIMC - AIMC STOCK NEWS

Regal Rexnord Corporation and Altra Industrial Motion Corp. have announced the acquisition of Altra by Regal Rexnord, with regulatory approvals received. The merger will see Altra operate as a wholly owned subsidiary of Regal Rexnord. The closing date is projected for around March 27, 2023, pending final conditions. Regal Rexnord, headquartered in Beloit, Wisconsin, specializes in industrial powertrain solutions, while Altra, based in Braintree, Massachusetts, is known for motion control and power transmission systems. The collaboration aims to enhance efficiency and market presence.

Altra Industrial Motion Corp. (Nasdaq: AIMC) announced its Q4 2022 financial results, reporting net sales of $469.4 million, a slight drop of 0.1% year-over-year. Despite this, organic sales grew by 2.3%. The company achieved a GAAP net income of $22.3 million, a significant turnaround from a net loss of $87.7 million in Q4 2021. Non-GAAP net income reached $47.9 million, reflecting a 10.4% increase from the previous year. Their GAAP net income margin improved to 4.8%, compared to a negative margin of 18.7% in Q4 2021. The firm is set to be acquired by Regal Rexnord Corporation for $62.00 per share, with transaction closure expected in H1 2023.

Altra Industrial Motion Corp. (AIMC) has declared a quarterly cash dividend of $0.09 per share for Q1 2023, marking the forty-fourth consecutive dividend payment in its history. This dividend is set for payment on April 4, 2023, to shareholders on record by March 16, 2023. The decision to declare future dividends will depend on the Board's assessment of market conditions and capital availability, ensuring it's in shareholders' best interests. Altra, headquartered in Braintree, Massachusetts, has over 9,000 employees and operates 46 production facilities globally.

Altra Industrial Motion Corp. (AIMC) has declared a quarterly cash dividend of $0.09 per share for Q4 2022, marking its 43rd consecutive dividend. This dividend will be paid on January 3, 2023 to shareholders on record by December 16, 2022. Future dividends are subject to Board approval and market conditions. Altra operates globally with over 9,000 employees across 47 facilities in 17 countries, manufacturing a diverse portfolio of motion control and power transmission products.

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.

Altra Industrial Motion Corp. reported its Q3 2022 financial results with net sales of $466.3 million, a 0.6% decline year-over-year. Organic sales growth was 1.9%. GAAP net income decreased 5.1% to $33.6 million, with earnings per diluted share at $0.51. Non-GAAP earnings remained stable at $52.3 million. The company has a record backlog of $963 million and generated $61.9 million in Non-GAAP adjusted free cash flow. Altra is set to be acquired by Regal Rexnord for $62.00 per share, pending shareholder and regulatory approvals.

Altra Industrial Motion Corp. (AIMC) has agreed to be acquired by Regal Rexnord Corporation for approximately $5.0 billion in cash, offering Altra shareholders $62.00 per share, a 54% premium over the previous day's closing price. The Board of Directors approves the transaction, expecting completion in the first half of 2023, pending shareholder and regulatory approvals. The company's Q3 2022 revenue was $466.3 million, a slight decline from the previous year, but showed 1.9% organic growth. Altra's net income for the quarter was $33.6 million, with notable debt levels reported.

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.

Altra Industrial Motion Corp. (Nasdaq:AIMC) plans to release its unaudited financial results for Q3 2022 on November 3, 2022, before market opening. An investor conference call will follow at 11:00 a.m. ET the same day, accessible via a dedicated phone line and live webcast. Altra, a global leader in motion control and power transmission products, operates 47 production facilities across 17 countries and employs over 9,000 staff. The results will provide insights into the company’s financial health and operational performance for the quarter.