Regal beloit posts quarterly adjusted earnings per share of $1.31

Oration announces first quarter 2020 financial results.q1 adjusted earnings per share $1.31.q1 gaap earnings per share $1.12.q1 earnings per share estimate $1.09 -- refinitiv ibes data.covid-19 started to impact regal's business in china early in q1.as of end of q1, company's net debt was $760.4 million.on april 1st, company drew down $254.8 million under its revolving credit facility.combined with prior borrowings, company has now borrowed full $500.0 million under company's revolver.as of may 1, 2020, company had cash and cash equivalents on hand of approximately $890.0 million.reducing discretionary spending across organization.deferring new hires outside of mission critical roles.implementing a series of compensation reductions and furloughs on a global basis.
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