×

Regal Beloit misses 3Q profit forecasts

BELOIT, Wis. (AP) _ Regal Beloit Corp. (RBC) on Monday reported third-quarter earnings of $62.2 million.

The Beloit, Wisconsin-based company said it had profit of $1.39 per share. Earnings, adjusted for non-recurring gains, came to $1.37 per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.

The maker of controls for electric motors posted revenue of $856.9 million in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $839.2 million.

Regal Beloit expects full-year earnings in the range of $4.80 to $4.90 per share.

Regal Beloit shares have risen 17 percent since the beginning of the year. The stock has climbed 39 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RBC at https://www.zacks.com/ap/RBC