Regal Rexnord Updates 2024 Guidance: Lowers GAAP Diluted EPS to $3.70-$4.10 From $3.97-$4.77, Adjusted Diluted EPS to $9.40-$9.80 From $9.60-$10.40 Due to Softer Automation & Motion Control Segment and Higher Interest Costs
Portfolio Pulse from Benzinga Newsdesk
Regal Rexnord has updated its 2024 guidance, lowering its GAAP diluted EPS to $3.70-$4.10 from $3.97-$4.77 and adjusted diluted EPS to $9.40-$9.80 from $9.60-$10.40. The revision is due to a softer performance in the Automation & Motion Control segment and higher interest costs.
July 31, 2024 | 8:22 pm
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Regal Rexnord has revised its 2024 guidance downward, citing a weaker performance in its Automation & Motion Control segment and increased interest costs. The GAAP diluted EPS is now expected to be $3.70-$4.10, down from $3.97-$4.77, and the adjusted diluted EPS is now $9.40-$9.80, down from $9.60-$10.40.
The downward revision in EPS guidance indicates weaker-than-expected performance in key segments and higher costs, which is likely to negatively impact investor sentiment and the stock price in the short term.
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