RBC Bearings Incorporated Q2 Profit Increases, beats estimates

(RTTNews) - RBC Bearings Incorporated (RBC) revealed a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $45.967 million, or $1.58 per share. This compares with $38.052 million, or $1.31 per share, in last year's second quarter.

Excluding items, RBC Bearings Incorporated reported adjusted earnings of $63.202 million or $2.17 per share for the period.

Analysts on average had expected the company to earn $2.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.4% to $385.572 million from $369.167 million last year.

RBC Bearings Incorporated earnings at a glance (GAAP) :

-Earnings (Q2): $45.967 Mln. vs. $38.052 Mln. last year. -EPS (Q2): $1.58 vs. $1.31 last year. -Analyst Estimate: $2.05 -Revenue (Q2): $385.572 Mln vs. $369.167 Mln last year.

-Guidance: Next quarter revenue guidance: $370 to $380 Mln Full year revenue guidance: $1.55 to $1.60 Bln