Rexnord (RXN) Initiates $0.08 Quarterly Dividend; Expands Buyback Plan
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Rexnord (RXN) Tops Q3 EPS by 6c, Revenues Beat; Lowers FY20 Adj. EBITDA Mid-Point Outlook Citing Impact of 737MAX Suspension
January 28, 2020 4:26 PM ESTRexnord (NYSE: RXN) reported Q3 EPS of $0.48, $0.06 better than the analyst estimate of $0.42. Revenue for the quarter came in at $492 million versus the consensus estimate of $487.2 million.
Third Quarter Highlights
Net sales were $492 million and increased 1% year over year (+1% core sales(1), +1% acquisitions, -1% foreign currency translation).Net income from continuing operations was $48 million (diluted EPS of $0.39), compared with $53 million (diluted EPS of $0.43) in the year-ago quarter.Net income(2) was $46 million (diluted EPS of $0.39), compared with $20 million (diluted EPS of $0.21), including a $28 million loss from discontinued operations in the year-ago... More