Regal Rexnord (RRX) Q3 FY2023 earnings: revenue $1.6 billion, up 24.5% on the year

Regal Rexnord Corp. (RRX) reported revenue of $1.6 billion for Q3 FY2023, the quarter ended 30 September 2023, up 24.5% on the same quarter a year earlier. Net income was -$140 million, and diluted earnings per share $-2.10. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2023.

Revenue$1.6 billionup 24.5%

Net income-$140 million

Diluted EPS$-2.10

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	1,650	n/a	n/a	n/a
Cost of revenue	1,108	n/a	n/a	n/a
Gross profit	542	n/a	n/a	n/a
Gross margin	32.9%	n/a	n/a
Operating income	-20.4	n/a	n/a	n/a
Operating margin	-1.2%	n/a	n/a
Interest expense	112	n/a	n/a	n/a
Pre-tax income	-126	n/a	n/a	n/a
Income tax	12.7	n/a	n/a	n/a
Net income	-140	n/a	n/a	n/a
Net margin	-8.5%	n/a	n/a
Diluted EPS	-$2.10	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	187	n/a	n/a	n/a
Capital expenditure	25.2	n/a	n/a	n/a
Free cash flow	162	n/a	n/a	n/a
Free cash flow margin	9.8%	n/a	n/a
Cash from investing	-25.0	n/a	n/a	n/a
Cash from financing	-210	n/a	n/a	n/a
Depreciation and amortisation	141	n/a	n/a	n/a
Share-based compensation	12.9	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	23.2	n/a	n/a	n/a
Dividend per share	$0.35	n/a	n/a	n/a
Diluted shares, weighted	66m	n/a	n/a	n/a
Shares outstanding at period end	66m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	6,169	n/a	n/a	n/a
Non-controlling interest	27.1	n/a	n/a	n/a
Debt	6,498	n/a	n/a	n/a
Operating lease liabilities	129	n/a	n/a	n/a
Other liabilities	2,542	n/a	n/a	n/a
Total liabilities and equity	15,365	n/a	n/a	n/a
Goodwill	6,473	n/a	n/a	n/a
Intangible assets	4,117	n/a	n/a	n/a
Cash and equivalents	541	n/a	n/a	n/a
Receivables	919	n/a	n/a	n/a
Inventory	1,303	n/a	n/a	n/a
Other assets	2,013	n/a	n/a	n/a
Total assets	15,365	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,650	1,608	1,548	1,548	1,477	1,461	1,418	1,496	1,497	1,523	1,479	1,558
Cost of revenue	1,108	1,045	995	977	921	950	890	931	943	952	929	947
Gross profit	542	563	553	571	556	511	528	565	554	571	550	612
Gross margin	33%	35%	36%	37%	38%	35%	37%	38%	37%	38%	37%	39%
Operating income	-20.4	177	134	194	174	128	160	182	174	164	153	215
Operating margin	-1%	11%	9%	13%	12%	9%	11%	12%	12%	11%	10%	14%
Interest expense	112	108	105	102	98.0	94.6	90.2	85.3	87.0	86.7	80.5	77.4
Pre-tax income	-126	74.4	31.3	96.9	81.4	38.4	73.0	101	91.9	86.4	76.5	144
Tax rate	n/a	24%	35%	35%	10%	-9%	21%	21%	13%	26%	16%	19%
Net income	-140	55.9	19.8	62.5	72.7	41.2	57.3	79.2	79.6	63.4	64.3	117
Net margin	-8%	3%	1%	4%	5%	3%	4%	5%	5%	4%	4%	7%
Diluted EPS	-$2.10	$0.84	$0.30	$0.94	$1.09	$0.62	$0.86	$1.19	$1.20	$0.95	$0.96	$1.74
Operating cash flow	187	201	83.1	158	155	213	102	523	198	168	14.9	177
Capital expenditure	25.2	30.4	18.5	32.4	29.3	29.3	16.8	30.2	23.5	27.2	17.4	22.5
Free cash flow	162	171	64.6	126	126	184	85.5	493	174	141	-2.5	154
Buybacks	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	23.2	23.2	23.3	23.3	23.3	23.1	23.2	23.4	23.1	23.3	23.3	23.3
Shares outstanding	66m	66m	66m	66m	66m	66m	66m	66m	66m	66m	67m	67m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 3 November 2023, accession 0000082811-23-000190: the filing on EDGAR. All of Regal Rexnord Corp.'s filings: EDGAR company page.

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