Last $28.97 USD
Change Today -0.13 / -0.45%
Volume 322.6K
RXN On Other Exchanges
Symbol
Exchange
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As of 4:15 PM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).

rexnord corp (RXN) Snapshot

Open
$29.14
Previous Close
$29.10
Day High
$29.29
Day Low
$28.91
52 Week High
03/7/14 - $30.94
52 Week Low
07/26/13 - $17.83
Market Cap
2.9B
Average Volume 10 Days
627.5K
EPS TTM
$1.22
Shares Outstanding
101.3M
EX-Date
--
P/E TM
23.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for REXNORD CORP (RXN)

rexnord corp (RXN) Related Businessweek News

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rexnord corp (RXN) Details

Rexnord Corporation designs, manufactures, markets, and services process and motion control, and water management products worldwide. The company operates through two segments, Process & Motion Control Platform and Water Management Platform. The Process & Motion Control Platform segment designs, manufactures, markets, and services mechanical components used in complex systems. It offers gears, couplings, industrial bearings, aerospace bearings and seals, chains, engineered chains, and conveying equipment under the brand names of Steelflex, Thomas, Omega, Rex, Viva, Wrapflex, Lifelign, True Torque, Addax, Autogard, FlatTop, PSI, Cartriseal, Precision Gear, Micro Precision, Rexnord, Falk, and Link-Belt. This segment offers its products through distributors to mining, general industrial, cement and aggregates, agriculture, forest and wood products, petrochemical, energy, food and beverage, aerospace, and wind energy markets. The Water Management Platform segment designs, procures, manufactures, and markets products that provide and enhance water quality, safety, flow control, and conservation. It offers specification drainage products, flush valves and faucet products, backflow prevention pressure release valves, PEX piping used in nonresidential construction end-markets, and engineered valves and gates for the water and wastewater treatment market under the brand names of Zurn, Wilkins, VAG, GA, Rodney Hunt, and Fontaine. This segment sells its products through independent sales representatives, sales agencies, and direct sales and marketing associates in 49 countries. Rexnord Corporation was incorporated in 2006 and is headquartered in Milwaukee, Wisconsin.

7,400 Employees
Last Reported Date: 05/21/14
Founded in 2006

rexnord corp (RXN) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $750.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $377.3K
Executive Vice President of Corporate and Bus...
Total Annual Compensation: $434.8K
Compensation as of Fiscal Year 2014.

rexnord corp (RXN) Key Developments

Rexnord Corporation Announces Amended and Restated By-Laws

On July 14, 2014, the Board of Directors of Rexnord Corporation amended and restated the company's By-Laws, effective as of that date, to reflect the termination of certain rights previously held by Apollo Management VI, L.P. and its affiliates as a result of Apollo's prior ownership of at least 33 1/3% of the company's common stock. Most significantly, those former rights included the right to designate a specified number of directors on the Board and to approve certain important matters involving the company; those provisions automatically ceased to be effective in accordance with their terms when Apollo's ownership of Rexnord Common Stock dropped below 33 1/3%. The amendment and restatement of the By-Laws removes the provisions that are no longer effective.

Rexnord Corporation - Analyst/Investor Day

To provide overview of the company's growth and profitability strategy and vision, a discussion of its business development and M&A strategy, a financial overview and breakout sessions with management

Rexnord Corporation Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year 2015

Rexnord Corporation announced consolidated earnings results for the fourth quarter and full year ended March 31, 2014. For the quarter, the company reported net sales of $569.7 million compared with $540.3 million for the same period a year ago. Income from operations was $78.5 million compared with $74.8 million for the same period a year ago. Income from operations before income taxes was $51.0 million compared with $34.7 million for the same period a year ago. Net income from continuing operations was $39.9 million or $0.39 per diluted share compared with $23.9 million or $0.24 per diluted share for the same period a year ago. Net income was $40.0 million or $0.39 per diluted share compared with $23.9 million or $0.24 per diluted share for the same period a year ago. Adjusted EBITDA was $119.5 million compared with $115.0 million for the same period a year ago. Adjusted net income was $51.9 million or $0.50 per diluted share compared with $32.1 million or $0.32 per diluted share for the same period a year ago. EBITDA was $101.6 million compared with $101.9 million for the same period a year ago. The company had a strong free cash flow quarter of $79 million. Adjusted operating income increased to $92 million. For the full year, the company reported net sales of $2,082.0 million compared with $2,005.1 million for the same period a year ago. Income from operations was $279.6 million compared with $255.4 million for the same period a year ago. Income from operations before income taxes was $22.2 million compared with $75.2 million for the same period a year ago. Net income from continuing operations was $29.6 million or $0.29 per diluted share compared with $54.9 million or $0.55 per diluted share for the same period a year ago. Net income was $30.2 million or $0.30 per diluted share compared with $50.1 million or $0.50 per diluted share for the same period a year ago. Adjusted EBITDA was $413.0 million compared with $405.0 million for the same period a year ago. Adjusted net income was $140.6 million or $1.39 per diluted share compared with $97.6 million or $0.98 per diluted share for the same period a year ago. Cash provided by operating activities was $190.8 million compared with $144.5 million for the same period a year ago. Expenditures for property, plant and equipment was $52.2 million compared with $60.1 million for the same period a year ago. EBITDA was $239.8 million compared with $336.1 million for the same period a year ago. With respect to free cash flow, the company generated $144 million of free cash flow in the fiscal year, which includes approximately $9 million of nonrecurring cost associated with the company’s Board -- with its debt refinancing last August and the Board's review of strategic alternatives that concluded late June. Excluding these items, the company’s free cash flow was 109% of adjusted net income. Net debt was $1,605,000,000 for the period. Adjusted operating income increased to $305 million. For the full fiscal year, sales increased 2% to $1,286,000,000 driven by core sales growth of 1% and acquisitions adding another point. The company provided earnings guidance for the first quarter and full year of 2015. For the first quarter, the company anticipates sales to be in the range of $500 to $510 million and adjusted earnings per share in the range of $0.24 to $0.26. In the first quarter, the company expects tax rate to be approximately 34% to 36%, excluding the tax planning action. The company expects fiscal 2015 is for core sales growth of +3% to +5%, incremental adjusted EBITDA margins of approximately 30%, adjusted earnings per share range of $1.60 to $1.70 and free cash flow to again exceed adjusted net income. The company is anticipating an effective tax rate of approximately 30% for the year. This rate excludes the nonrecurring, noncash expense, the company will record in its first quarter related to a tax funding initiative that will basically allow the company to reduce the taxation on certain foreign entities and benefit its rate going forward.

 

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RXN

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Valuation RXN Industry Range
Price/Earnings 97.6x
Price/Sales 1.4x
Price/Book 5.2x
Price/Cash Flow 36.4x
TEV/Sales 0.3x
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