RBC Bearings: Fiscal Q3 Earnings Snapshot
By AP News
Published - Feb 09, 2023, 05:15 PM ET
Last Updated - Jun 22, 2023, 10:17 PM EDT
OXFORD, Conn. (AP) — OXFORD, Conn. (AP) — RBC Bearings Inc. (RBC) on Thursday reported fiscal third-quarter profit of $36.3 million.
The Oxford, Connecticut-based company said it had net income of $1.05 per share. Earnings, adjusted for non-recurring costs and stock option expense, were $1.64 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The maker of bearings and components posted revenue of $351.6 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $357.4 million.
