Rexnord (RXN) Tops Q2 EPS by 8c

Rexnord (NYSE: RXN) reported Q2 EPS of $0.58, $0.08 better than the analyst estimate of $0.50. Revenue for the quarter came in at $568 million versus the consensus estimate of $544.5 million.

Third Quarter Outlook:

Adams continued, “Given the anticipated timing of the separation of our PMC and WM platforms, we will continue to limit our external outlook to the upcoming quarter. Based on the permanent cost reduction initiatives we have implemented, our order backlog heading into the third quarter and an anticipated range of demand patterns through September, we expect third quarter sales in our WM platform to increase year over year in the high teens percentage range and Adjusted EBITDA margin to range between 26% and 27%. We expect sales in our PMC platform to increase by a mid-teens percentage range and Adjusted EBITDA margin to range between 23% and 24%, and for our corporate expenses to approximate $10 million.”

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

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