RBC Bearings Incorporated (RBC) announced an increase in its second-quarter profit compared to the same period last year, although the results fell short of market expectations.
The company reported earnings of $48.5 million, or $1.65 per share, up from last year’s figures of $45.9 million, or $1.58 per share, for the second quarter.
When excluding specific items, RBC Bearings posted adjusted earnings of $67 million or $2.29 per share for this quarter.
Analysts, as surveyed by Thomson Reuters, had projected the company to report earnings of $2.30 per share. These predictions typically exclude special items.
For this quarter, RBC Bearings saw a revenue increase of 3.2%, reaching $397.9 million compared to $385.6 million in the previous year.
Summarizing RBC Bearings Incorporated’s second-quarter performance based on Generally Accepted Accounting Principles (GAAP):
- Earnings (Q2): $48.5 million, compared to $45.9 million last year
- EPS (Q2): $1.65, compared to $1.58 last year
- Revenue (Q2): $397.9 million, compared to $385.6 million last year
**Guidance:** The company forecasts next quarter's revenue to be in the range of $390 million to $400 million.
