RBC Bearings: Overview of Fiscal Third Quarter Earnings

RBC Bearings Reports Strong Third-Quarter Earnings

RBC Bearings Inc., headquartered in Oxford, Connecticut, announced a net profit of $67.4 million for its fiscal third quarter.

The company’s earnings translated to $2.13 per share. After adjusting for one-time expenses and stock-based compensation, adjusted earnings reached $3.04 per share.

These results surpassed analysts’ expectations, as six experts polled by Zacks Investment Research had forecasted earnings of $2.85 per share.

During the quarter, RBC Bearings generated $461.6 million in revenue, outpacing the consensus estimate of $461.1 million from five Zacks analysts.

Looking ahead, the company projects revenue for the quarter ending in March to fall between $495 million and $505 million.