Regal Beloit(US:RRX)2021-10-22 12:42Financial Performance - Revenue reached $469.3 million, a 7% year-over-year increase, driven by strong demand across most end-markets, but tempered by supply chain challenges[8] - Non-GAAP Adjusted EBITDA was $97.0 million, representing 20.7% of sales, a decrease of 4.7% from the previous year but an increase of 9% from Q3 2019[8] - The company achieved a gross margin of 36.2%, down 130 bps from the previous year but up 80 bps from Q3 2019[8] - GAAP diluted EPS was $0.54, compared to $0.59 in Q3 2020, while non-GAAP diluted EPS was $0.80, compared to $0.87 in Q3 2020[8] Balance Sheet and Debt - The company paid down an additional $70 million of debt in Q3, bringing the year-to-date total to $120 million[9, 10] - Net Debt to Non-GAAP Adjusted EBITDA leverage ratio stood at 2.7x at the end of the quarter[9] - Available credit line was $257 million and cash balance was $295 million as of September 30, 2021[32] Guidance - Sales are projected to be between $1,880 million and $1,900 million[37] - Non-GAAP Adjusted EBITDA is expected to be between $390 million and $400 million[37] - Non-GAAP Free Cash Flow is projected to be between $200 million and $225 million[37] Strategic Priorities - The company is focused on leveraging the Altra Business System, de-levering the balance sheet, enhancing margins, driving topline growth, and advancing ESG initiatives[26]