Shares of Regal Rexnord Corporation (RRX) plummeted 11.7% on Monday after the company reported mixed results for its third quarter and raised concerns about the sustainability of its dividend payments.

For the quarter ended September 30, Regal Rexnord reported adjusted earnings of $2.49 per share, beating analyst expectations of $2.48 per share. However, the company's revenue fell short, declining 10.4% year-over-year to $1.48 billion, missing analyst estimates of $1.52 billion.

While the earnings beat was a positive, investors appeared to be more concerned about the company's ability to maintain its dividend payments going forward. In a separate analysis, analysts raised doubts about the sustainability of Regal Rexnord's dividend, citing projections of a high payout ratio and declining earnings per share over the past five years.