The 10-second takeaway
For the quarter ended March 31 (Q4), Rexnord met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. Non-GAAP earnings per share contracted. GAAP earnings per share grew significantly.
Gross margins dropped, operating margins increased, net margins expanded.
Rexnord reported revenue of $540.3 million. The seven analysts polled by S&P Capital IQ hoped for a top line of $542.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.32. The seven earnings estimates compiled by S&P Capital IQ predicted $0.31 per share. Non-GAAP EPS of $0.32 for Q4 were 8.6% lower than the prior-year quarter's $0.35 per share. GAAP EPS of $0.24 for Q4 were 100% higher than the prior-year quarter's $0.12 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 36.7%, 10 basis points worse than the prior-year quarter. Operating margin was 14.3%, 60 basis points better than the prior-year quarter. Net margin was 4.4%, 280 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $512.7 million. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $2.11 billion. The average EPS estimate is $1.10.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Rexnord is hold, with an average price target of $21.80.
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