RBC Bearings
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.
Revenue details
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 details
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.
Margin details
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.
Looking ahead
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.
Investor sentiment
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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