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Regal Rexnord Corporation (NYSE: RRX) is a global leader in the engineering and manufacturing of industrial powertrain solutions, power transmission components, electric motors, electronic controls, air moving products, and specialty electrical components and systems. Headquartered in Milwaukee, Wisconsin, Regal Rexnord operates across multiple sectors, providing essential products and services that drive the modern world.
The company is structured into three key segments: Industrial Powertrain Solutions, Power Efficiency Solutions, and Automation & Motion Control. These segments collectively serve diverse end markets such as factory automation, food & beverage, aerospace, medical, data centers, warehouses, alternative energy, residential and commercial buildings, general industrial, construction, metals, mining, and agriculture.
Regal Rexnord's extensive product portfolio includes highly engineered power transmission components and sub-systems, electric motors and air moving sub-systems, controls, actuators, drives, and small precision motors. These products are integral to applications ranging from HVAC systems to e-commerce conveyor systems, impacting daily life in numerous ways.
Recent achievements include the acquisition of Altra Industrial Motion Corp., which has significantly expanded the company's capabilities and market reach. Additionally, the company concluded the sale of its Industrial Motors and Generators business to WEG S.A. for $400 million, aligning its portfolio towards higher-margin, growth-oriented sectors.
Financially, Regal Rexnord has demonstrated robust performance with strong free cash flow generation and disciplined debt reduction strategies. The company anticipates using proceeds from recent transactions to further reduce debt and enhance financial flexibility.
Regal Rexnord is committed to producing energy-efficient and environmentally friendly products, addressing the rising secular demands of its customers. The company's vision, supported by its 30,000+ associates worldwide, is to create a better tomorrow by sustainably converting power into motion.
For the latest updates and detailed information, visit regalrexnord.com.
Regal Rexnord reported strong first-quarter 2024 financial results, with a focus on debt reduction and portfolio transformation. The company sold its Industrial Systems business, leading to net proceeds used for debt reduction. Despite market headwinds in the PES segment, the company remains cautiously optimistic and continues to work on value creation opportunities.
Key financial highlights include a GAAP EPS of $0.30 and adjusted diluted EPS of $2.00, sales of $1,547.7 million, adjusted free cash flow of $64.6 million, and adjusted EBITDA of $317.4 million. The company is updating its annual guidance for 2024, with GAAP diluted EPS to range from $3.97 to $4.77 and adjusted diluted EPS from $9.60 to $10.40.
Regal Rexnord announced its evolved business purpose after completing the sale of its Industrial Motors and Generators businesses, marking the end of a strategic portfolio transformation. The Company's portfolio now focuses on industrial power transmission, factory automation solutions, and high-efficiency electric motors and air moving subsystems. With a shift towards more innovative, industry-leading products, Regal Rexnord aims to achieve a 40% adjusted gross margin by 2025. The new purpose emphasizes sustainable solutions that power, transmit, and control motion, reflecting the Company's commitment to growth and value creation.
Regal Rexnord announced the closure of the sale of its Industrial Motors and Generators business to WEG S.A., totaling $400 million, with plans to use the proceeds to reduce debt. The Company focuses on providing sustainable solutions for motion control and operates in various end markets.
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