MILWAUKEE (AP) — MILWAUKEE (AP) — Regal Rexnord Corporation (RRX) on Wednesday reported fourth-quarter profit of $63.5 million.
The Milwaukee-based company said it had profit of 95 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were $2.51 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.47 per share.
The maker of controls for electric motors posted revenue of $1.52 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $1.54 billion.
For the year, the company reported profit of $279.5 million, or $4.20 per share. Revenue was reported as $5.93 billion.
Regal Rexnord expects full-year earnings in the range of $10.20 to $11 per share.
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