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Rexnord: Fiscal 2Q Earnings Snapshot

·1 min read

MILWAUKEE (AP) _ Rexnord Corp. (RXN) on Tuesday reported fiscal second-quarter earnings of $45.4 million.

The Milwaukee-based company said it had profit of 37 cents per share. Earnings, adjusted for one-time gains and costs, were 47 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The motion control and water management company posted revenue of $493.6 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $469.9 million.

Rexnord shares have dropped 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $31.25, an increase of nearly 8% 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