Regal Rexnord (RRX) FY2019 results: revenue $3.2 billion, down 11.2% on the year
Regal Rexnord Corp. (RRX) reported revenue of $3.2 billion for fiscal 2019, the year ended 28 December 2019, down 11.2% on the year before. Net income was $239 million, up 3.3%, and diluted earnings per share $5.66. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$3.2 billion
-11.2% on the year
FY2012FY2019
Operating margin
10.8%
9.5% a year earlier
FY2012FY2019
Net income
$239 million
+3.3% on the year
FY2012FY2019
Diluted EPS
$5.66
+7.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,238
3,646
3,360
-11.2%
Cost of revenue
2,377
2,681
2,477
-11.3%
Gross profit
861
965
884
-10.8%
Gross margin
26.6%
26.5%
26.3%
Research and development
64.6
29.3
29.9
+120.5%
Operating income
351
347
331
+1.2%
Operating margin
10.8%
9.5%
9.9%
Interest expense
53.0
55.2
56.1
-4.0%
Pre-tax income
304
292
277
+4.0%
Income tax
61.2
56.4
59.1
+8.5%
Effective tax rate
20.1%
19.3%
21.3%
Net income
239
231
213
+3.3%
Net margin
7.4%
6.3%
6.3%
Diluted EPS
$5.66
$5.26
$4.74
+7.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
408
363
292
+12.6%
Capital expenditure
92.4
77.6
65.2
+19.1%
Free cash flow
316
285
227
+10.9%
Free cash flow margin
9.8%
7.8%
6.7%
Cash from investing
74.3
-228
-57.8
Cash from financing
-397
-17.7
-391
Depreciation and amortisation
134
142
137
-5.5%
Share-based compensation
13.0
16.9
13.6
-23.1%
Buybacks
165
128
45.1
+29.2%
Dividends paid
48.9
47.2
44.5
+3.6%
Dividend per share
$1.18
$1.10
$1.02
+7.3%
Diluted shares, weighted
42m
44m
45m
-3.9%
Shares outstanding at period end
41m
43m
44m
-4.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,351
2,310
2,326
+1.8%
Non-controlling interest
29.3
28.0
29.2
+4.6%
Debt
1,138
1,307
1,141
-13.0%
Operating lease liabilities
51.0
0.0
n/a
Other liabilities
862
978
892
-11.9%
Total liabilities and equity
4,431
4,624
4,388
-4.2%
Fixed assets
605
616
623
-1.7%
Goodwill
1,501
1,509
1,477
-0.5%
Intangible assets
567
626
1,094
-9.3%
Cash and equivalents
331
249
140
+33.3%
Receivables
461
552
506
-16.4%
Inventory
678
767
757
-11.6%
Other assets
286
306
n/a
-6.5%
Total assets
4,431
4,624
4,388
-4.2%
10-K for the year ended 28 December 2019, filed 26 February 2020: the filing.