RBC Bearings Q1 Adj $2.54 Beats $2.39 Estimate, Sales $406.30M Miss $416.98M Estimate
Portfolio Pulse from Benzinga Newsdesk
RBC Bearings (NYSE:RBC) reported Q1 earnings of $2.54 per share, beating the analyst estimate of $2.39. However, sales of $406.30 million missed the $416.98 million estimate. Earnings increased by 19.25% year-over-year, while sales grew by 4.95%.
August 02, 2024 | 12:02 pm
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RBC Bearings reported Q1 earnings of $2.54 per share, beating estimates by 6.28%, but sales of $406.30 million missed the $416.98 million estimate. Earnings increased by 19.25% year-over-year, while sales grew by 4.95%.
The positive earnings surprise is likely to have a favorable impact on the stock price in the short term, despite the sales miss. The significant year-over-year growth in earnings and sales also supports a positive outlook.
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