Upgrade to SI Premium - Free Trial

RBC Bearings (ROLL) Misses Q3 EPS by 2c, Revenues Miss; Offers Q4 Revenue Guidance Below Consensus

February 4, 2020 8:02 AM

RBC Bearings (NASDAQ: ROLL) reported Q3 EPS of $1.22, $0.02 worse than the analyst estimate of $1.24. Revenue for the quarter came in at $177 million versus the consensus estimate of $178.71 million.

“Our operational performance was in line with our expectations for the third quarter. The aerospace markets continue to grow organically at double-digit levels, driven by additional manufacturing capacity and contracts now converting to revenues,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. “While the industrial markets remain challenged, we have new contracts coming onto existing accounts, which will help increase industrial volumes throughout the calendar year.”

GUIDANCE:

RBC Bearings sees Q4 2020 revenue of $187-191 million, versus the consensus of $191.5 million.

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

Categories

Corporate News Earnings Guidance Hot Guidance Management Comments

Next Articles