The 2020 Mid-Year Economic Update_long

Rexnord Sales Soar 26.5% in 2Q

The company doubled its profit during the quarter as “momentum across our business continues to accelerate,” according to the CEO.
Rexnord 2Q 2021 earnings

Rexnord Corp. (NYSE: RXN), Milwaukee, Wisconsin, reported sales for the second quarter of $568.3 million, a 26.5% increase over the same period a year ago. The company reported a profit of $73.2 million for the quarter, more than double its profit of $35.6 million in the year-ago quarter.

“We delivered a very strong second quarter with above market sales growth, solid margins, and strong free cash flow,” said Todd Adams, chairman and CEO. “Momentum across our business continues to accelerate and the trajectory of both platforms provides a terrific backdrop for our planned merger of Process and Motion Control with Regal Beloit while establishing our Water Management platform as a premier, pure-play water company.”

For the first six months, Rexnord’s sales were $1.1 billion, up 9.9% from the same period in 2020. Profit almost doubled to $123.2 million from $64.1 million.

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