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.