Milwaukee-based manufacturer
Regal Rexnord reported a 3.3% sales decline during the second quarter to $1.5 billion, compared to a year ago, but it posted a 26.7% year-over-year gain in net income for the quarter, to $79.2 million.
"Our team delivered strong performance in the second quarter, which was modestly ahead of our expectations on sales and earnings,” said Regal Rexnord chief executive officer
Louis Pinkham. “While a number of macro-economic and geopolitical uncertainties persist, we are laser-focused on accelerating growth, driven in particular, by our cross-sell synergies and doubling our new product vitality.”
Regal Rexnord is a global company with 30,000 employees and provides solutions that power, transmit and control motion. Its automation offering, comprised of controllers, drives, precision motors, actuators, and linear systems, controls motion in applications ranging from factory automation to precision tools used in surgical applications. The company is comprised of three operating segments: Industrial Powertrain Solutions, Power Efficiency Solutions, and Automation & Motion Control.
