RRX - Regal Rexnord Corporation re-affirms FY guidance; introduces new three year financial targets

• Regal Rexnord Corporation ( NYSE: RRX ) reaffirms its previously announced FY22 guidance , including organic revenue growth at a high single digit rate, to ~$5.2B, GAAP earnings per share in a range of $7.01 to $7.61, and adjusted earnings per share in a range of $10.20 to $10.80 vs consensus of $10.66 .
• The company is also introducing the financial targets for the 2023 to 2025 period including, organic net sales growth at a CAGR of 4% to 6%, adjusted EBITDA margin expansion of ~300 basis points, adjusted earnings per share growth at a low double digit CAGR and Annual free cash flow conversion of at least 100%.
• The company also plans to achieve carbon emission neutrality on scopes 1 and 2 by 2032, and targets net zero across scopes 1, 2 and 3 by 2050.

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