Rexnord (RXN) Tops Q3 EPS by 7c, Revenues Miss; Raises FY19 Operating Outlook

Rexnord (NYSE: RXN) reported Q3 EPS of $0.47, $0.07 better than the analyst estimate of $0.40. Revenue for the quarter came in at $485 million versus the consensus estimate of $487.39 million.

Fiscal 2019 Outlook

Adams continued, “With one quarter left in our fiscal 2019, we’re increasing our operating outlook to reflect our operational execution and the progress of we’ve made on a number of strategic initiatives throughout the year. Our revised outlook includes our net income from continuing operations to be in a range of $169 million to $171 million and our Adjusted EBITDA to be in a range of $437 million to $443 million. We are reiterating our outlook for free cash flow(1) to exceed net income, which as a consequence of the earnings outlook, would equate to a record year for free cash flow.”

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

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