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RBC Bearings: Fiscal Q3 Earnings Snapshot

OXFORD, Conn. (AP) — OXFORD, Conn. (AP) — RBC Bearings Inc. (RBC) on Thursday reported fiscal third-quarter net income of $67.4 million.

On a per-share basis, the Oxford, Connecticut-based company said it had net income of $2.13. Earnings, adjusted for non-recurring costs and stock option expense, were $3.04 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.85 per share.

The maker of bearings and components posted revenue of $461.6 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $461.1 million.

For the current quarter ending in March, RBC Bearings said it expects revenue in the range of $495 million to $505 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RBC at https://www.zacks.com/ap/RBC

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