May 14, 2018 / 9:33 PM / 4 months ago

BRIEF-Rexnord Corp Q4 Adj Earnings Per Share $0.42

May 14 (Reuters) - Rexnord Corp:

* REXNORD REPORTS Q4 FY18 FINANCIAL RESULTS AND INITIATES FY19 OPERATING OUTLOOK; PLANS TO DIVEST VAG

* Q4 SALES $575 MILLION VERSUS I/B/E/S VIEW $551.9 MILLION

* Q4 EARNINGS PER SHARE VIEW $0.39 — THOMSON REUTERS I/B/E/S

* “INITIAL OUTLOOK FOR FISCAL 2019 IS BASED ON OUR ASSUMPTION OF MID-SINGLE-DIGIT CORE GROWTH FOR THE FULL YEAR”

* EXPECT FISCAL 2019 GAAP NET INCOME TO BE IN A RANGE OF $129 MILLION TO $143 MILLION

* EXPECT FISCAL 2019 ADJUSTED EBITDA TO BE IN A RANGE OF $420 MILLION TO $440 MILLION

* ESTIMATE SCOFR WILL DELIVER APPROXIMATELY $15 MILLION OF ANNUALIZED STRUCTURAL COST REDUCTION ONCE COMPLETED IN FISCAL 2020

* FISCAL 2019 OUTLOOK EXCLUDES CO’S VAG OPERATIONS

* ANTICIPATE DIVESTING NON-STRATEGIC VAG OPERATIONS THAT SERVE GLOBAL WATER AND WASTEWATER INFRASTRUCTURE END MARKETS Source text for Eikon: Further company coverage:

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