Regal Rexnord (RRX) FY2020 results: revenue $2.9 billion, down 10.2% on the year
Regal Rexnord Corp. (RRX) reported revenue of $2.9 billion for fiscal 2020, the year ended 2 January 2021, down 10.2% on the year before. Net income was $188 million, down 21.4%, and diluted earnings per share $4.60. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2021.
Revenue
$2.9 billion
-10.2% on the year
FY2013FY2020
Operating margin
9.6%
10.8% a year earlier
FY2013FY2020
Net income
$188 million
-21.4% on the year
FY2013FY2020
Diluted EPS
$4.60
-18.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,907
3,238
3,646
-10.2%
Cost of revenue
2,098
2,377
2,681
-11.7%
Gross profit
807
861
965
-6.3%
Gross margin
27.7%
26.6%
26.5%
Research and development
67.0
64.6
29.3
+3.7%
Operating income
278
351
347
-20.8%
Operating margin
9.6%
10.8%
9.5%
Interest expense
39.8
53.0
55.2
-24.9%
Pre-tax income
248
304
292
-18.2%
Income tax
56.3
61.2
56.4
-8.0%
Effective tax rate
22.7%
20.1%
19.3%
Net income
188
239
231
-21.4%
Net margin
6.5%
7.4%
6.3%
Diluted EPS
$4.60
$5.66
$5.26
-18.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
435
408
363
+6.6%
Capital expenditure
47.5
92.4
77.6
-48.6%
Free cash flow
388
316
285
+22.7%
Free cash flow margin
13.3%
9.8%
7.8%
Cash from investing
-37.0
74.3
-228
Cash from financing
-148
-397
-17.7
Depreciation and amortisation
131
134
142
-2.3%
Share-based compensation
9.2
13.0
16.9
-29.2%
Buybacks
25.0
165
128
-84.9%
Dividends paid
48.7
48.9
47.2
-0.4%
Dividend per share
$1.20
$1.18
$1.10
+1.7%
Diluted shares, weighted
41m
42m
44m
-3.3%
Shares outstanding at period end
41m
41m
43m
-0.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,544
2,351
2,310
+8.2%
Non-controlling interest
32.6
29.3
28.0
+11.3%
Debt
1,071
1,138
1,307
-5.8%
Operating lease liabilities
55.1
51.0
0.0
+8.0%
Other liabilities
886
862
978
+2.8%
Total liabilities and equity
4,589
4,431
4,624
+3.6%
Fixed assets
n/a
605
616
Goodwill
1,518
1,501
1,509
+1.1%
Intangible assets
530
567
626
-6.5%
Cash and equivalents
611
331
249
+84.5%
Receivables
432
461
552
-6.4%
Inventory
690
678
767
+1.8%
Other assets
807
286
306
+182.1%
Total assets
4,589
4,431
4,624
+3.6%
10-K for the year ended 2 January 2021, filed 2 March 2021: the filing.