Regal Rexnord (RRX) FY2024 results: revenue $6.0 billion, down 3.5% on the year

Regal Rexnord Corp. (RRX) reported revenue of $6.0 billion for fiscal 2024, the year ended 31 December 2024, down 3.5% on the year before. Net income was $196 million, and diluted earnings per share $2.94. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.

Revenue

$6.0 billion

-3.5% on the year

FY2017FY2024

Operating margin

10.4%

6.0% a year earlier

FY2017FY2024

Net income

$196 million

FY2017FY2024

Diluted EPS

$2.94

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	6,034	6,251	5,218	-3.5%
Cost of revenue	3,843	4,183	3,548	-8.1%
Gross profit	2,191	2,067	1,670	+6.0%
Gross margin	36.3%	33.1%	32.0%
Research and development	176	171	107	+3.2%
Operating income	630	377	690	+67.1%
Operating margin	10.4%	6.0%	13.2%
Interest expense	400	431	87.2	-7.3%
Pre-tax income	248	-1.6	614
Income tax	49.6	52.7	119	-5.9%
Effective tax rate	20.0%	n/a	19.4%
Net income	196	-57.4	489
Net margin	3.3%	-0.9%	9.4%
Diluted EPS	$2.94	-$0.87	$7.29

$ 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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	609	715	436	-14.8%
Capital expenditure	110	119	83.8	-8.1%
Free cash flow	500	596	352	-16.2%
Free cash flow margin	8.3%	9.5%	6.8%
Cash from investing	275	-4,983	-113
Cash from financing	-1,096	4,204	-274
Depreciation and amortisation	512	493	307	+3.9%
Share-based compensation	34.8	58.2	22.5	-40.2%
Buybacks	50.0	0.0	239
Dividends paid	93.0	92.8	90.9	+0.2%
Dividend per share	$1.40	$1.40	$1.38	0.0%
Diluted shares, weighted	67m	66m	67m	+0.6%
Shares outstanding at period end	66m	66m	66m	0.0%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	6,260	6,344	6,388	-1.3%
Non-controlling interest	7.4	20.8	34.4	-64.4%
Debt	5,500	6,381	2,024	-13.8%
Operating lease liabilities	114	132	88.1	-13.7%
Other liabilities	2,153	2,553	1,735	-15.7%
Total liabilities and equity	14,034	15,431	10,269	-9.1%
Goodwill	6,459	6,553	4,019	-1.4%
Intangible assets	3,664	4,083	2,230	-10.3%
Cash and equivalents	394	574	688	-31.4%
Receivables	843	922	797	-8.6%
Inventory	1,228	1,274	1,337	-3.7%
Other assets	1,446	2,025	1,197	-28.6%
Total assets	14,034	15,431	10,269	-9.1%

10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.