Regal Beloit Q2 Profit Matches Estimates - Quick Facts

(RTTNews) - Regal Beloit Corporation (RBC) reported second-quarter net income of $56.2 million compared to $51.1 million for the second quarter 2013. Earnings per share was $1.24 compared to $1.13, prior year. Adjusted earnings per share was $1.27 for the second quarter 2014.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.27 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $850.4 million compared to $822.0 million for the second quarter 2013. Analysts expected revenue of $863.16 million for the quarter.

In the third quarter, the company expects earnings per share to be $1.05 to $1.13. Adding back $0.05 of estimated restructuring expenses and $0.02 of purchase accounting adjustments, adjusted earnings per share is expected to be $1.12 to $1.20. Analysts expect the company to report third-quarter earnings per share of $1.28.