The 2020 Mid-Year Economic Update_long

Rexnord Sales Down 4% in Fiscal 1Q

Profit increased 76 percent year-over year.

Rexnord Corp. (NYSE: RXN), Milwaukee, WI, reported sales for the fiscal first quarter of $485.1 million, a 4 percent decrease over the same period a year ago. Profit increased 76 percent to $21.3 million.

"Our first quarter operating results were slightly better than we had guided, despite the uneven global market environment and significant de-stocking in our industrial distribution channels," said Todd Adams, president & CEO. "We believe our Water Management and aerospace end-markets will continue to be strong over the balance of the year, and we anticipate the ongoing weak demand from our process industry customers to continue."

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