MILWAUKEE (AP) — MILWAUKEE (AP) — Regal Rexnord Corporation (RRX) on Wednesday reported first-quarter profit of $64.3 million.
On a per-share basis, the Milwaukee-based company said it had profit of 96 cents. Earnings, adjusted for amortization costs and restructuring costs, were $2.17 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.11 per share.
The maker of controls for electric motors posted revenue of $1.48 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.43 billion.
Regal Rexnord expects full-year earnings in the range of $10.20 to $11 per share, with revenue in the range of $5.2 million to $6 million.
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