Rexnord Reports Q2 FY2020 Financial Results

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Go back to Rexnord Reports Q2 FY2020 Financial Results

Rexnord (RXN) Tops Q2 EPS by 4c, Revenues Beat; Updates FY20 Outlook

October 29, 2019 4:34 PM EDT

Rexnord (NYSE: RXN) reported Q2 EPS of $0.51, $0.04 better than the analyst estimate of $0.47. Revenue for the quarter came in at $521 million versus the consensus estimate of $524.88 million.

Second Quarter Highlights

Net sales were $521 million and decreased 1% year over year (flat core sales(1), +1% acquisitions, -2% foreign currency translation).Net income from continuing operations grew 24% to $57 million (diluted EPS of $0.46), compared with $46 million (diluted EPS of $0.37) in the year-ago quarter.Net income(2) was $51 million (diluted EPS of $0.46), compared with a net loss(2) of $43 million, including a $84 million loss from discontinued operations (diluted EPS... More