Rexnord (RXN) Tops Q3 EPS by 7c, Revenues Miss; Raises FY19 Operating Outlook
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Rexnord Reports Q3 FY2019 Financial Results and Increases FY2019 Operating Outlook
January 30, 2019 4:20 PM ESTCall scheduled for Thursday, January 31, 2019 at 8:00 a.m. Eastern Time
MILWAUKEE--(BUSINESS WIRE)-- Rexnord Corporation (NYSE: RXN)
Third Quarter Highlights
Net sales were $485 million and increased 11% year over year (+6% core sales(1), +7% acquisitions, -2% foreign currency translation). Net income from continuing operations was $53 million (diluted EPS of $0.43), compared with $86 million (diluted EPS of $0.70) in the year-ago quarter. Net income(2) was $20 million (diluted EPS of $0.21), including a $28 million loss from discontinued operations (primarily due to the... More