RBC Bearings Sees Q3 Revenue $370M-$380M Vs $383M Est.; FY24 Sales Of $1.55B-$1.60B Vs $1.6B Est.
Portfolio Pulse from Benzinga Newsdesk
RBC Bearings has projected its Q3 FY24 revenue to be between $370M-$380M, compared to the estimated $383M. The company also expects its FY24 sales to be around $1.55B-$1.60B, slightly lower than the estimated $1.6B. The company's Q3 sales are expected to grow by 5.2% to 8.1% compared to last year.
November 09, 2023 | 1:04 pm
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NEGATIVE IMPACT
RBC Bearings' lower than expected Q3 FY24 and FY24 sales forecasts may negatively impact its stock price in the short term.
RBC Bearings' projected revenues for Q3 FY24 and FY24 are lower than the market estimates. This could lead to a negative sentiment among investors, potentially causing a short-term drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100