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Mar 30, 2024
RCM Technologies Q1 2024 Earnings Report
RCM Technologies announced first-quarter results with increased revenue and earnings.
Key Takeaways
RCM Technologies reported a 7.2% increase in revenue, reaching $71.9 million for the quarter ended March 30, 2024. Net income rose to $4.0 million, or $0.48 per diluted share, compared to the prior year. Adjusted EBITDA also saw an increase to $6.8 million.
Revenue increased by 7.2% to $71.9 million compared to the prior year.
Gross profit increased by 7.1% to $20.4 million compared to the prior year.
GAAP net income was $4.0 million, or $0.48 per diluted share.
Adjusted EBITDA increased to $6.8 million.
Revenue by Segment
Forward Guidance
RCM Technologies anticipates continued improvement in cash flow from operations in each of the next two quarters.
Positive Outlook
- Continued improvement in cash flow from operations is expected.
- All teams are executing on current initiatives.
- Seeding new initiatives designed to propel growth well into the future.
- Adjusted EBITDA increased 11.1%.
- Adjusted EPS increased 30.4%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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