Rexnord To Exit RHF Product Line, Details Q4 and 2016 Guidance to Reflect Loss of Income (NYSE:RXN)
Resource from: Sonoran Weekly Review Likes:229
Apr 27,2016
Rexnord (NYSE:RXN), a motion control and water management products, said it’s planning to exit its Rodney Hunt Fontaine product line and has updated its fiscal Q4 and full-year guidance to reflect the loss of revenue. The company sees Q4 revenue of about $492 million after stripping out a contribution of about $7 million from RHF. It sees adjusted EPS of about $0.35 – $0.36.
Analysts were expecting EPS of $0.37 on revenue of $503.9 million. For the full year fiscal 2016, the company sees adjusted EPS in a range of $1.45-1.46. Analysts expected $1.39. The stock closed at $21.85 on Monday in a 52-week range of $14.04 – $27.73.
The stock is up 1.19% or $0.26 after the news, hitting $22.11 per share. About 50,316 shares traded hands. Rexnord Corp (NYSE:RXN) has risen 15.98% since September 18, 2015 and is uptrending. It has outperformed by 9.35% the S&P500.
Rexnord Corporation designs, manufactures, markets, and services process and motion control, and water management products worldwide. The company operates in 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 and gear drives, couplings, industrial bearings, tabletop and engineered chain, aerospace bearings and seals, conveying equipment, and specialty components, as well as repair and on-going service under the brand names of Steelflex, Thomas, Omega, Rex, Viva, Wrapflex, Lifelign, True Torque, Addax, Autogard, FlatTop, Shafer, 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 to customers in the commercial construction, infrastructure, and residential construction end-markets in 49 countries. Rexnord Corporation was incorporated in 2006 and is headquartered in Milwaukee, Wisconsin.
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(Sonoran Weekly Review)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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