Why Regal Rexnord Stock Sailed More Than 9% Higher This Week

Electric motor specialist Regal Rexnord (NYSE: RRX) was quite the motor of growth over the past few trading sessions. The company's shares were a bright spot on the market, rising by more than 9% over the week, according to data compiled by S&P Global Market Intelligence. Management gave fresh estimates for the coming years, and investors clearly liked what they heard.Regal Rexnord held its 2024 investor day on Tuesday in a high-end New York City hotel. The fancy setting was appropriate, as management proffered guidance indicating its fundamentals would improve notably. It announced that it was maintaining its existing guidance for the entirety of this year, specifically that sales will total $6.2 billion and non-GAAP (adjusted) net income would land at $9.40 to $9.80 per share. The company did admit, though, that it now believes the lower half of the latter range is probable. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool