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RBC Bearings Inc reports results for the quarter ended in June - Earnings Summary
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RBC Bearings Inc reports results for the quarter ended in June - Earnings Summary
  • RBC Bearings Inc RBC.N reported quarterly adjusted earnings of $2.54​​ per share for the quarter ended in June, higher than the same quarter last year, when the company reported EPS of $2.13. The mean expectation of eight analysts for the quarter was for earnings of $2.40 per share. Wall Street expected results to range from $2.27 to $2.47 per share.

  • Revenue rose 5% to $406.30 million from a year ago; analysts expected $416.92 million.

  • RBC Bearings Inc's reported EPS for the quarter was $1.90​.

  • The company reported quarterly income of $55.7 million.

  • RBC Bearings Inc shares had risen by 6.8% this quarter and gained 1.1% so far this year.

FORECAST CHANGES

  • The mean earnings estimate of analysts had risen by about 4.6% in the last three months.​

  • In the last 30 days, there have been earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," 3 "hold" and "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 $310.00

This summary was machine generated from LSEG data August 2 at 01:52 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

Jun. 30 2024

2.40

2.54

Beat

Mar. 31 2024

2.36

2.47

Beat

Dec. 31 2023

1.96

1.85

Missed

Sep. 30 2023

2.05

2.17

Beat

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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