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Sep 30, 2022
Regal Rexnord Q3 2022 Earnings Report
Regal Rexnord pre-released selected financial measures for Q3 2022 and announced the acquisition of Altra Industrial Motion.
Key Takeaways
Regal Rexnord pre-released selected anticipated third quarter 2022 financial measures, including net sales of $1,325.3 million and adjusted diluted earnings per share of $2.66. The company also announced a definitive agreement to acquire Altra Industrial Motion for $62.00 per share in an all-cash transaction.
Regal Rexnord to acquire Altra Industrial Motion in an all-cash transaction for $62.00 per share.
Transaction values Altra at $4.95 billion, representing 13.6x LTM Adjusted EBITDA.
Regal Rexnord expects 2022 pro forma revenue of ~$7.2 billion with the addition of Altra.
Preliminary third quarter 2022 net sales were $1,325.3 million, and adjusted diluted earnings per share were $2.66.
Forward Guidance
For the full year of 2022, Regal Rexnord now expects adjusted diluted earnings per share to be in a range of $10.35 to $10.75, which contemplates, among other factors, expected net interest expense of $66 million vs. $50 million expected previously. This and other guidance from Regal Rexnord does not reflect any costs, expenses or other effects of the transaction.
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