Rexnord Reports Q3 FY2020 Financial Results

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Go back to Rexnord Reports Q3 FY2020 Financial Results

Rexnord (RXN) PT Raised to $38 at Oppenheimer

January 30, 2020 6:08 AM EST

Oppenheimer analyst Bryan Blair raised the price target on Rexnord (NYSE: RXN) to $38.00 (from $36.00) while maintaining a Outperform rating.

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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 EST

Rexnord (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