$ZWS

Rexnord Corp

CIK:0001439288|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 491.0	$ 444.5	$ 924.0	$ 833.3
Cost of sales	202.7	242.2	429.9	450.0
Gross profit	288.3	202.3	494.1	383.3
Selling, general and administrative expenses	119.5	108.2	227.7	209.4
Restructuring and other similar charges	1.8	1.9	2.7	3.6
Amortization of intangible assets	14.7	14.6	29.3	29.3
Income from operations	152.3	77.6	234.4	141.0
Non-operating expense:
Interest expense, net	(6.1)	(7.7)	(12.3)	(15.0)
Other income (expense), net	3.9	(2.0)	4.9	(2.0)
Income before income taxes	150.1	67.9	227.0	124.0
Provision for income taxes	(37.6)	(17.8)	(55.6)	(32.9)
Net income from continuing operations	112.5	50.1	171.4	91.1
Income from discontinued operations, net of tax	0.8	0.4	0.8	3.0
Net income	$ 113.3	$ 50.5	$ 172.2	$ 94.1
Basic net income per share:
Continuing operations (in dollars per share)	$ 0.68	$ 0.30	$ 1.03	$ 0.54
Discontinued operations (in dollars per share)	0	0	0	0.02
Net income (in dollars per share)	0.68	0.30	1.03	0.56
Diluted net income per share:
Continuing operations (in dollars per share)	0.67	0.29	1.02	0.53
Discontinued operations (in dollars per share)	0	0	0	0.02
Net income (in dollars per share)	$ 0.67	$ 0.29	$ 1.02	$ 0.55
Weighted-average number of shares outstanding (in thousands):
Basic (in shares)	167,067	168,483	167,380	169,409
Effect of dilutive equity awards (in shares)	1,711	1,600	1,861	1,901
Diluted (in shares)	168,778	170,083	169,241	171,310

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income	$ 172.2	$ 94.1
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	13.0	15.5
Amortization of intangible assets	29.3	29.3
Non-cash restructuring charges	0.0	0.5
Loss on dispositions of long-lived assets	0.7	0.0
Deferred income taxes	(7.0)	(10.6)
Other non-cash expenses	1.4	1.1
Pension curtailment and settlement	0.0	(0.7)
Stock-based compensation expense	20.9	19.5
Changes in operating assets and liabilities:
Receivables, net	(86.6)	(36.8)
Inventories, net	(13.6)	(1.7)
Other assets	28.2	21.3
Accounts payable	31.2	16.8
Accruals and other	18.7	5.2
Cash provided by operating activities	208.4	153.5
Investing activities
Expenditures for property, plant and equipment	(6.3)	(13.3)
Cash used for investing activities	(6.3)	(13.3)
Financing activities
Repayments of debt	(0.6)	(0.4)
Payment of debt issuance costs	(3.0)	0.0
Proceeds from exercise of stock options and ESPP contributions	3.5	2.4
Taxes withheld and paid on employees' share-based payment awards	0.0	(0.5)
Repurchase of common stock	(99.6)	(109.9)
Payment of common stock dividends	(36.8)	(30.3)
Cash used for financing activities	(136.5)	(138.7)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1.1)	2.4
Increase in cash, cash equivalents and restricted cash	64.5	3.9
Cash, cash equivalents and restricted cash at beginning of period	300.5	198.0
Cash, cash equivalents and restricted cash at end of period	$ 365.0	$ 201.9

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 365.0	$ 300.5
Receivables, net	270.9	184.8
Inventories, net	287.3	274.4
Income taxes receivable	1.2	13.3
Other current assets	28.7	38.7
Total current assets	953.1	811.7
Property, plant and equipment, net	152.0	157.6
Intangible assets, net	805.5	835.0
Goodwill	793.2	795.0
Other assets	77.3	80.1
Total assets	2,781.1	2,679.4
Current liabilities:
Current maturities of debt	1.4	0.9
Trade payables	96.2	65.2
Compensation and benefits	38.2	40.9
Current portion of pension and other postretirement benefit obligations	1.1	1.1
Other current liabilities	175.3	151.3
Total current liabilities	312.2	259.4
Long-term debt	497.7	495.6
Pension and other postretirement benefit obligations	9.4	9.6
Deferred income taxes	182.3	189.7
Operating lease liability	36.0	42.0
Other liabilities	84.4	79.8
Total liabilities	1,122.0	1,076.1
Stockholders' equity:
Common stock, $0.01 par value; 200,000,000 shares authorized; shares issued and outstanding: 166,070,847 at June 30, 2026 and 166,981,602 at December 31, 2025	1.7	1.7
Additional paid-in capital	2,797.8	2,810.0
Retained deficit	(1,059.6)	(1,131.7)
Accumulated other comprehensive loss	(80.8)	(76.7)
Total stockholders' equity	1,659.1	1,603.3
Total liabilities and stockholders' equity	$ 2,781.1	$ 2,679.4