RBC Bearings (ROLL) Tops Q2 EPS by 13c, Revenue Miss; Offers 3Q EPS Guidance Below Consensus

RBC Bearings (NASDAQ: ROLL) reported Q2 EPS of $1.22, $0.13 better than the analyst estimate of $1.09. Revenue for the quarter came in at $1.73 million versus the consensus estimate of $174.35 million.

“Our results for the second quarter of fiscal 2019 were in line with our expectations as we grew organic net sales and delivered gross margin improvements across the organization, capping a solid first half of our fiscal year,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. “Strong year-over-year organic sales results in the Aerospace and Industrial markets, combined with solid margin expansion and expense management, led to improved profitability in the quarter. The strong operating performance and healthy backlog have us well-positioned for the remainder of fiscal 2019.”

GUIDANCE:

RBC Bearings sees Q3 2019 revenue of $174-176 million, versus the consensus of $180.13 million.

For earnings history and earnings-related data on RBC Bearings (ROLL) click here.

You May Also Be Interested In

• LeonaBio (LONA) Price Target Cut to $17 by Citizens Amid Pipeline Development
• Keefe, Bruyette & Woods Starts Columbia Financial Inc (CLBK) at Outperform
• Rothschild Redburn Upgrades Apple (AAPL) to Buy