Regal Rexnord Corporation Reports Net Loss of $5.9 Million in Q1 2023

Regal Rexnord Corporation,(RRX) a leading industrial company, has released its condensed consolidated financial statements for the first quarter ended March 31, 2023. The unaudited financial data reveals a net loss of $5.9 million during the period. The company also reported a decline in revenue, with net sales amounting to $1,224.1 million for Q1 2023.

Now, let's delve into the key financial data and analysis from the Condensed Consolidated Statements of Income.

Net Income/Loss

During the three months ended March 31, 2023, Regal Rexnord Corporation recorded a net loss of $5.9 million. This is in stark contrast to the same period in the previous year when the company reported net income of $125.6 million.