Regal Rexnord reports Q2 adjusted EPS $2.29, consensus $2.13

Reports Q2 revenue $1.55B, consensus $1.53B. CEO Louis Pinkham commented, “We had a strong second quarter, starting with orders that inflected positive. In addition, all three segments delivered above their commitments on revenue and adjusted EBITDA. We saw particular strength at IPS, which exceeded its adjusted EBITDA margin target, and was up 220 basis points versus the prior year, as the business continued to perform exceptionally well including strong synergy capture. As an enterprise, our team delivered adjusted gross margins of 38.1% excluding Industrial Systems, providing clear line of sight to our goal of 40% exiting 2025. We also paid down $481 million of gross debt in the quarter, and $618 million year-to-date.”