Regal Rexnord narrows FY23 adjusted EPS view to $10.20-$10.60 from $10.20-$11.10

Consensus is for FY23 EPS $10.63. The company said, ” The updated adjusted EPS outlook holds the bottom end of the prior range and lowers the former mid-point by 25c, primarily to factor higher depreciation expense, in part related to the Altra transaction, and higher net interest expense tied to higher benchmark interest rates. The high end of the range comes down to reflect lower confidence in the pace of recovery in certain PES and Industrial segment end markets in the second half.”