RBC Bearings Inc. (RBC) Thursday announced a 13.6 percent increase in third-quarter earnings as revenues climbed 6.3 percent from the previous year.
The quarterly earnings were $40.74 million, up from $30.57 million in the previous year. On a per-share basis, earnings increased to $1.39 from $1.05 a year ago.
On average 8 analysts polled by Thomson Reuters expected the company to earn $1.96 per share. Analysts' estimates usually exclude special items.
Revenues increased to $373.91 million from $351.63 million a year ago. Wall Street analysts were looking for revenue of $376.8 million.
Looking ahead to the fourth quarter, the company expects net sales to be approximately $405.0 million to $415.0 million, up from the prior year's sales of $394.4 million, with a growth rate of 2.7 to 5.2 percent. Analysts' projection is for $424.53 million.
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