Rexnord (RXN) Tops Q1 EPS by 1c, Beats on Revenues

Rexnord (NYSE: RXN) reported Q1 EPS of $0.27, $0.01 better than the analyst estimate of $0.26. Revenue for the quarter came in at $488 million versus the consensus estimate of $484.23 million.

First Quarter Highlights

• Net sales were $488 million and up 3% year over year (+3% core sales(1), +3% acquisitions, -2% RHF product line exit, -1% foreign currency translation).
• Diluted EPS was $0.20, compared with $0.18 in the year-ago quarter.
• Net income(2) was $21 million, compared with $19 million in the year-ago quarter.
• Adjusted EPS(1) was $0.27, compared with $0.35 in the year-ago quarter.
• Adjusted EBITDA(1) was $86 million (18% of net sales), compared with $79 million (17% of net sales) in last year\'s first quarter.
• Net debt leverage ratio reduced to 3.0x.

Fiscal 2018 Outlook

Adams continued, “We are affirming an unchanged outlook for our fiscal 2018, which includes net income (2) to be in a range of $87 million to $107 million, our Adjusted EBITDA to be in a range of $365 million to $385 million, and our free cash flow to exceed net income. We believe our unchanged outlook prudently balances the strength of the order and backlog growth we’ve seen in our first quarter with the realities of nine months to go in our fiscal year.”

For earnings history and earnings-related data on Rexnord (RXN) click here.

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