Rexnord: Q2 Earnings Snapshot
Posted Jul 20, 2021 04:28:58 PM.
Last Updated Jul 20, 2021 05:00:37 PM.
MILWAUKEE (AP) _ Rexnord Corp. (RXN) on Tuesday reported second-quarter net income of $73.2 million.
The Milwaukee-based company said it had net income of 59 cents per share. Earnings, adjusted for one-time gains and costs, were 58 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The motion control and water management company posted revenue of $568.3 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $544.2 million.
Rexnord shares have increased 28% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $50.41, a climb of 73% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RXN at https://www.zacks.com/ap/RXN
The Associated Press
