August 30, 2014 12:54 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 and controls, electric generators and controls, low and medium voltage drives and soft starters, and mechanical motion control products in the United States and internationally. The company operates through two segments, Electrical and Mechanical. The Electrical segment offers heating, ventilation, and air conditioning motors; AC and DC commercial and industrial electric motors; electric generators and controls; high-performance drives and controls; and capacitors for various commercial and industrial applications. The Mechanical segment provides gears and gearboxes, marine transmission...

200 State Street

Beloit, WI 53511

United States

Founded in 1955

22,900 Employees

Phone:

608-364-8800

Key Executives for Regal Beloit Corporation

Chairman of the Board
Age: 53
Total Annual Compensation: $925.0K
Chief Financial Officer
Age: 60
Total Annual Compensation: $458.8K
Chief Operating Officer
Age: 48
Total Annual Compensation: $545.0K
Vice President
Age: 44
Total Annual Compensation: $379.8K
Vice President of Corporate Human Resources
Age: 58
Total Annual Compensation: $330.0K
Compensation as of Fiscal Year 2013.

Regal Beloit Corporation Key Developments

Regal Beloit Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 28, 2014; Reports Goodwill Impairment Charges for the Second Quarter Ended June 28, 2014; Provides Earnings Guidance for the Third Quarter of 2014, Effective Tax Rate for the Second Half of 2014 and Capital Expenditures Guidance for the Year 2014

Regal Beloit Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 28, 2014. For the quarter, the company reported net sales of USD 850.4 million compared to USD 822.0 million for the second quarter of 2012. Income from operations was USD 87.7 million against USD 81.1 million a year ago. Income before taxes was USD 79.1 million against USD 71.5 million a year ago. Net income attributable to the company was USD 56.2 million or USD 1.24 per basic and diluted share against USD 51.1 million or USD 1.13 per diluted share a year ago. Net cash provided by operating activities was USD 99.5 million against USD 91.3 million a year ago. Additions to property, plant, and equipment were USD 20.6 million against USD 26.6 million a year ago. Adjusted income from operations was USD 94.1 million against USD 82.5 million a year ago. Adjusted diluted earnings per share were USD 1.27 for the second quarter 2014 compared to USD 1.13 for the second quarter 2013. The impact of foreign currency translation in the quarter was a negative 0.4% on total net sales as compared to the prior year. Free cash flow was USD 78.9 million against USD 64.7 million a year ago. For the six months, the company reported net sales of USD 1,651.6 million against USD 1,600.2 million a year ago. Income from operations was USD 157.4 million against USD 157.0 million a year ago. Income before taxes was USD 140.1 million against USD 137.5 million a year ago. Net income attributable to the company was USD 100.0 million or USD 2.20 per diluted share against USD 100.6 million or USD 2.22 per diluted share a year ago. Net cash provided by operating activities was USD 145.3 million against USD 157.3 million a year ago. Additions to property, plant, and equipment were USD 42.9 million against USD 47.2 million a year ago. Adjusted income from operations was USD 169.3 million against USD 159.3 million a year ago. Adjusted diluted earnings per share were USD 2.31 compared to USD 2.21 a year ago. Net debt was USD 322 million. Free cash flow was USD 102.4 million against USD 110.1 million a year ago. For the second quarter ended June 28, 2014, the company reported goodwill impairment of USD 1.0 million. For the third quarter of 2014, the company expects diluted earnings per share to be USD 1.05 to USD 1.13. Adding back USD 0.05 of estimated restructuring expenses and USD 0.02 of purchase accounting adjustments, adjusted diluted earnings per share is expected to be USD 1.12 to USD 1.20. The company estimates effective tax rate for the second half of 2014 to be 27%, consistent with the company's guidance from last quarter. For the year 2014, the company estimates capital expenditures will be USD 80 million to USD 85 million.

Regal Beloit Corporation Declares Regular Quarterly, Payable on October 8, 2014

Regal Beloit Corporation announced that the Board of Directors, at its regular quarterly meeting held on July 25, 2014, declared a dividend of $0.22 per share. The dividend is payable on October 8, 2014, to shareholders of record at the close of business on September 24, 2014.

Regal Beloit Corporation to Report Q2, 2014 Results on Jul 29, 2014

Regal Beloit Corporation announced that they will report Q2, 2014 results After-Market on Jul 29, 2014

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