Regal Rexnord (RRX) FY2018 results: revenue $3.6 billion, up 8.5% on the year
Regal Rexnord Corp. (RRX) reported revenue of $3.6 billion for fiscal 2018, the year ended 29 December 2018, up 8.5% on the year before. Net income was $231 million, up 8.5%, and diluted earnings per share $5.26. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$3.6 billion
+8.5% on the year
FY2011FY2018
Operating margin
9.5%
9.9% a year earlier
FY2011FY2018
Net income
$231 million
+8.5% on the year
FY2011FY2018
Diluted EPS
$5.26
+11.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,646
3,360
3,224
+8.5%
Cost of revenue
2,681
2,477
2,360
+8.2%
Gross profit
965
884
865
+9.1%
Gross margin
26.5%
26.3%
26.8%
Research and development
29.3
29.9
29.5
-2.0%
Operating income
347
331
322
+4.8%
Operating margin
9.5%
9.9%
10.0%
Interest expense
55.2
56.1
58.7
-1.6%
Pre-tax income
292
277
266
+5.4%
Income tax
56.4
59.1
57.1
-4.6%
Effective tax rate
19.3%
21.3%
21.4%
Net income
231
213
203
+8.5%
Net margin
6.3%
6.3%
6.3%
Diluted EPS
$5.26
$4.74
$4.52
+11.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
363
292
442
+24.3%
Capital expenditure
77.6
65.2
65.2
+19.0%
Free cash flow
285
227
377
+25.8%
Free cash flow margin
7.8%
6.7%
11.7%
Cash from investing
-228
-57.8
-19.6
Cash from financing
-17.7
-391
-380
Depreciation and amortisation
142
137
155
+3.8%
Share-based compensation
16.9
13.6
13.3
+24.3%
Buybacks
128
45.1
0.0
+183.4%
Dividends paid
47.2
44.5
42.1
+6.1%
Dividend per share
$1.10
$1.02
$0.95
+7.8%
Diluted shares, weighted
44m
45m
45m
-2.2%
Shares outstanding at period end
43m
44m
45m
-3.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,310
2,326
2,039
-0.6%
Non-controlling interest
28.0
29.2
39.4
-4.1%
Debt
1,307
1,141
1,412
+14.5%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
978
892
869
+9.6%
Total liabilities and equity
4,624
4,388
4,358
+5.4%
Fixed assets
616
623
628
-1.2%
Goodwill
1,509
1,477
1,453
+2.2%
Intangible assets
626
1,094
1,071
-42.8%
Cash and equivalents
249
140
284
+78.1%
Receivables
552
506
462
+9.0%
Inventory
767
757
661
+1.3%
Other assets
306
n/a
n/a
Total assets
4,624
4,388
4,358
+5.4%
10-K for the year ended 29 December 2018, filed 26 February 2019: the filing.