Rexnord (RXN) Misses Q4 EPS by 9c, Revenues Miss; Initiates FY20 Adj. EBITDA Outlook
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Rexnord Reports Record FY2019 Financial Results and Initiates FY2020 Operating Outlook
May 8, 2019 4:20 PM EDTCall scheduled for Thursday, May 9, 2019 at 8:00 a.m. Eastern Time
MILWAUKEE--(BUSINESS WIRE)-- Rexnord Corporation (NYSE: RXN)
Fourth Quarter Highlights
Net sales were $538 million and increased 4% year over year (+4% core sales(1), +2% acquisitions, -2% foreign currency translation). Net income from continuing operations was $48 million (diluted EPS of $0.39), compared with $58 million (diluted EPS of $0.47) in the year-ago quarter. Net income(2) was $41 million (diluted EPS of $0.38), compared with a net loss(2) of $68 million (diluted loss per share of $0.51), which included a $120 million loss from discontinued... More