Rexnord (RXN) Tops Q4 EPS by 3c, Offers Outlook
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Rexnord Reports Q4 FY18 Financial Results and Initiates FY19 Operating Outlook; Plans to Divest VAG
May 14, 2018 5:22 PM EDTCall scheduled for Tuesday, May 15, 2018 at 8:00 a.m. Eastern Time
MILWAUKEE--(BUSINESS WIRE)-- Rexnord Corporation (NYSE: RXN):
Fourth Quarter Highlights
Net sales were $575 million and up 14% year over year (+7% core sales(1), +4% acquisitions, +3% foreign currency translation). Net loss(2) was $68 million, including a $111 million goodwill impairment charge related to the anticipated divestiture of our VAG operations, (diluted loss per share of $0.65), compared with net income of $22 million (diluted EPS of $0.21) in the year-ago quarter. Adjusted EPS(1) was $0.42, compared with $0.35 in the year-ago quarter.... More