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Jul 07, 2023RBC Bearings Revenue, Earnings Miss Projections | Industrial Distribution
Nov 07, 2024The company posted quarterly sales of nearly $398 million.
OXFORD, Conn. (AP) — RBC Bearings Inc. on Friday reported fiscal second-quarter earnings of $54.2 million.
On a per-share basis, the Connecticut-based maker of bearings and components said it had profit of $1.65. Earnings, adjusted for one-time gains and costs, were $2.29 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.30 per share.
The company posted revenue of $397.9 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $401 million.
For the current quarter ending in December, RBC Bearings said it expects revenue in the range of $390 million to $400 million.