Stock Story -
Bearings manufacturer RBC (TSX:RY) Bearings (NYSE:RBC) will be reporting results tomorrow before market open. Here's what you need to know.
RBC Bearings met analysts' revenue expectations last quarter, reporting revenues of $413.7 million, up 4.9% year on year. It was a weaker quarter for the company, with a miss of analysts' earnings estimates.
Is RBC Bearings a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting RBC Bearings's revenue to grow 7.7% year on year to $416.9 million, slowing from the 9.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.42 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RBC Bearings has missed Wall Street's revenue estimates six times over the last two years.
Looking at RBC Bearings's peers in the engineered components and systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Regal Rexnord's revenues decreased 12.5% year on year, beating analysts' expectations by 2.7%, and Gates Industrial Corporation reported a revenue decline of 5.4%, in line with consensus estimates.
Read the full analysis of Regal Rexnord's and Gates Industrial Corporation's results on StockStory.
There has been positive sentiment among investors in the engineered components and systems segment, with share prices up 10% on average over the last month. RBC Bearings is up 6.2% during the same time and is heading into earnings with an average analyst price target of $303.2 (compared to the current share price of $290.84).
![RBC Bearings Earnings: What To Look For From RBC](https://d68-invdn-com.investing.com/content/pic510fdac3ff16d2898cd04637f0b0176c.jpeg)