Regal Beloit Q2 Profit Tops Estimate; Revenue Misses; Cuts FY15 EPS Outlook

(RTTNews) - Regal Beloit Corp. (RBC) reported net imcome for the second quarter of $62.8 million or $1.39 per share, compared to $56.2 milion or $1.24 per share for the eyar-ago quarter.

Excluding items, adjusted earnings per share for the latest quarter were $1.53.

Net sales for the second quarter rose 11% to $942.2 million from $850.4 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $1.51 per share on revenue of $981.64 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward, the company lowered its full year 2015 adjusted earnings outlook to a range of $5.40 to $5.60 per share from its prior outlook of $5.45 to $5.75 per share. Analysts currently expect the company to earn $5.46 per share for the full year 2015.