Regal Rexnord (RRX) FY2016 results: revenue $3.2 billion, down 8.1% on the year
Regal Rexnord Corp. (RRX) reported revenue of $3.2 billion for fiscal 2016, the year ended 31 December 2016, down 8.1% on the year before. Net income was $203 million, up 41.9%, and diluted earnings per share $4.52. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$3.2 billion
-8.1% on the year
FY2009FY2016
Operating margin
10.0%
7.2% a year earlier
FY2009FY2016
Net income
$203 million
+41.9% on the year
FY2009FY2016
Diluted EPS
$4.52
+42.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,224
3,510
3,257
-8.1%
Cost of revenue
2,360
2,576
2,460
-8.4%
Gross profit
865
933
797
-7.3%
Gross margin
26.8%
26.6%
24.5%
Research and development
29.5
30.1
32.9
-2.0%
Operating income
322
253
122
+27.6%
Operating margin
10.0%
7.2%
3.7%
Interest expense
58.7
60.2
39.1
-2.5%
Pre-tax income
266
197
90.3
+35.3%
Income tax
57.1
48.4
54.2
+18.0%
Effective tax rate
21.4%
24.6%
60.0%
Net income
203
143
31.0
+41.9%
Net margin
6.3%
4.1%
1.0%
Diluted EPS
$4.52
$3.18
$0.69
+42.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
442
384
298
+15.1%
Capital expenditure
65.2
92.2
83.6
-29.3%
Free cash flow
377
292
215
+29.1%
Free cash flow margin
11.7%
8.3%
6.6%
Cash from investing
-19.6
-1,488
-205
Cash from financing
-380
1,033
-218
Depreciation and amortisation
155
159
139
-2.5%
Share-based compensation
13.3
13.9
11.9
-4.3%
Buybacks
0.0
12.0
35.0
Dividends paid
42.1
40.2
37.8
+4.7%
Dividend per share
$0.95
$0.91
$0.86
+4.4%
Diluted shares, weighted
45m
45m
45m
-0.2%
Shares outstanding at period end
45m
45m
45m
+0.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,039
1,937
1,934
+5.2%
Non-controlling interest
39.4
45.5
44.9
-13.4%
Debt
1,412
1,722
632
-18.0%
Other liabilities
869
887
745
-2.1%
Total liabilities and equity
4,358
4,592
3,357
-5.1%
Fixed assets
628
678
532
-7.5%
Goodwill
1,453
1,466
1,004
-0.8%
Intangible assets
1,071
1,079
444
-0.7%
Cash and equivalents
284
253
334
+12.5%
Receivables
462
462
448
+0.0%
Inventory
661
775
692
-14.7%
Total assets
4,358
4,592
3,357
-5.1%
10-K for the year ended 31 December 2016, filed 26 February 2019: the filing.