RBC Bearings Incorporated Q2 Profit Increases, But Misses Estimates

(RTTNews) - RBC Bearings Incorporated (RBC) revealed a profit for its second quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $48.5 million, or $1.65 per share. This compares with $45.9 million, or $1.58 per share, in last year's second quarter.

Excluding items, RBC Bearings Incorporated reported adjusted earnings of $67 million or $2.29 per share for the period.

Analysts on average had expected the company to earn $2.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.2% to $397.9 million from $385.6 million last year.

RBC Bearings Incorporated earnings at a glance (GAAP) :

-Earnings (Q2): $48.5 Mln. vs. $45.9 Mln. last year. -EPS (Q2): $1.65 vs. $1.58 last year. -Revenue (Q2): $397.9 Mln vs. $385.6 Mln last year.

-Guidance: Next quarter revenue guidance: $390 Mln - $400 Mln