Regal rexnord corporation reports strong third quarter 2022 financial results

Beloit, wis. , oct. 31, 2022 /prnewswire/ -- regal rexnord corporation (nyse: rrx) third quarter highlights sales up 48% versus py and up 8% on an organic basis* daily orders down 3.6% in 3q versus py on a pro forma, constant currency basis backlog up nearly 70% versus beginning of 2021; book-to-bill ratio above 1.00 for prior 7 quarters, averaging 1.10 in 2021 and 1.01 ytd in 2022 adjusted ebitda margin* up 120 basis points versus py to 20.9%; price/cost remained positive adjusted diluted eps* of $2.66 versus $2.88 in py; gaap diluted eps of $1.80 versus $1.95 in py free cash flow conversion* of 93% net debt to adjusted ebitda of 1.4x raising guidance mid-point by revising 2022 annual guidance for adjusted eps to a range of $10.35 to $10.75 from $10.20 to $10.80 and revising gaap eps guidance to a range of $7.15 to $7.55 from $7.01 to $7.61 m&a synergies remain ahead of plan ceo louis pinkham commented, "i am extremely pleased with our 3q performance.
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