RBC Bearings Inc reports results for the quarter ended in March - Earnings Summary

RBC Bearings

17/05/2024 15:09

* RBC Bearings Inc  RBC.N  reported quarterly adjusted
earnings of
$2.47​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of
$2.13.  The mean expectation of six analysts for the quarter was
for earnings of $2.36 per share. Wall Street expected results to
range from $2.24  to $2.42 per share.
    * Revenue rose 4.9% to $413.68 million from a year ago;
analysts
expected $413.51 million. 
    * RBC Bearings Inc's reported EPS for the quarter was
$1.91​.
    * The company reported quarterly net income of $61.67
million.
    * RBC Bearings Inc shares had fallen by 1.0% this
quarter and
lost 6.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for RBC Bearings Inc
is $306.00 
This summary was machine generated from LSEG data May 17 at
02:09 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      2.36           2.47           Beat
 Dec. 31 2023      1.96           1.85           Missed
 Sep. 30 2023      2.05           2.17           Beat
 Jun. 30 2023      1.96           2.13           Beat