The 10-second takeaway
For the quarter ended June 30 (Q1), RBC Bearings met expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share improved significantly.
Margins increased across the board.
RBC Bearings tallied revenue of $103.3 million. The five analysts polled by S&P Capital IQ expected to see a top line of $104.7 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $93.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.62. The six earnings estimates compiled by S&P Capital IQ anticipated $0.61 per share. GAAP EPS of $0.76 for Q1 were 58% higher than the prior-year quarter's $0.48 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 37.2%, 310 basis points better than the prior-year quarter. Operating margin was 21.6%, 330 basis points better than the prior-year quarter. Net margin was 16.6%, 510 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $104.0 million. On the bottom line, the average EPS estimate is $0.61.
Next year's average estimate for revenue is $433.2 million. The average EPS estimate is $2.64.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 141 members rating the stock outperform and five members rating it underperform. Among 40 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 38 give RBC Bearings a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on RBC Bearings is outperform, with an average price target of $50.86.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of RBC Bearings. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.