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July 1, 2014
07:32 EDTRBC, CWRegal-Beloit acquires Bernshaw from Curtiss-Wright
Regal Beloit (RBC) announced it has acquired Benshaw from Curtiss-Wright (CW). Benshaw has estimated annual revenues of approximately $60M. For the H2 of 2014, Benshaw is anticipated to be 2c dilutive Regal's earnings per share, including the impact of purchase accounting adjustments and transaction costs. For 2015, Benshaw is anticipated to be accretive to earnings per share by 6c-9c. The purchase price was approximately $50M.
News For RBC;CW From The Last 14 Days
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February 23, 2015
08:02 EDTRBCRegal-Beloit reinstated with a Neutral at Goldman
Target $83.
February 18, 2015
18:00 EDTCWCurtiss-Wright sees FY15 EPS $3.80-$3.90, consensus $3.50
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17:58 EDTCWCurtiss-Wright reports Q4 EPS 94c, consensus $1.00
Reports Q4 revenue $573M, consensus $636.63M.
February 17, 2015
05:21 EDTRBCRegal-Beloit sees FY15 adjusted EPS $5.45-$5.85, consensus $5.50
Regal Chairman and CEO Mark Gliebe stated, "We are executing on the three-year plan we laid out for investors in December 2014. Current business conditions give us confidence in our North American operations but unfavorable currency translation, uncertainty in Europe and a decline in oil and gas investments will be headwinds in 2015. Despite these challenges, we continue to expect our margin improvement initiatives will enable us to achieve the first year targets for our legacy businesses that we communicated in December. We expect 2015 adjusted diluted EPS to be in the range of $5.45-$5.85, which includes accretion from the PTS acquisition."
05:20 EDTRBCRegal-Beloit reports Q4 adjusted EPS 82c, consensus 94c
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