BELOIT, Wis., July 31, 2023 /PRNewswire/ -- Regal Rexnord Corporation (NYSE:RRX)
Second Quarter Highlights
CEO Louis Pinkham commented, "Our second quarter results exceeded our targets, reflecting the hard work and strong execution of our Regal Rexnord team and the effectiveness of our 80/20 and RBS initiatives. Notable progress on working capital resulted in very strong free cash flow generation and enabled further debt reduction. We also saw healthy growth in the majority of our businesses that were not subject to temporary destocking headwinds, and achieved strong adjusted gross and EBITDA margin expansion. I am particularly pleased with the growth we saw in AMC, indicative of our secular market exposure and differentiated products and technology."
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