The 10-second takeaway
For the quarter ended Dec. 29 (Q3), RBC Bearings missed estimates on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share dropped.
Gross margins increased, operating margins increased, net margins shrank.
RBC Bearings booked revenue of $96.3 million. The five analysts polled by S&P Capital IQ predicted a top line of $100.5 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.53. The six earnings estimates compiled by S&P Capital IQ forecast $0.59 per share. GAAP EPS of $0.53 for Q3 were 1.9% lower than the prior-year quarter's $0.54 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 37.7%, 230 basis points better than the prior-year quarter. Operating margin was 19.9%, 80 basis points better than the prior-year quarter. Net margin was 12.6%, 20 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $118.2 million. On the bottom line, the average EPS estimate is $0.77.
Next year's average estimate for revenue is $424.4 million. The average EPS estimate is $2.58.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 141 members out of 146 rating the stock outperform, and five members rating it underperform. Among 51 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 50 give RBC Bearings a green thumbs-up, and one 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 $51.71.
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