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Jul 01, 2023
RCM Technologies Q2 2023 Earnings Report
RCM Technologies reported a decrease in revenue and net income for the second quarter of 2023.
Key Takeaways
RCM Technologies reported a decrease in revenue by 9.8% and a decrease in net income to $4.0 million for the thirteen weeks ended July 1, 2023. Despite a slow start to the year in Engineering, the company maintained its strategy of building a differentiated platform and anticipates a healthy double-digit earnings increase in the fourth quarter.
Revenue decreased by 9.8% compared to the prior-year period.
Gross profit decreased by 13.5% compared to the prior-year period.
GAAP net income decreased to $4.0 million, or $0.47 per diluted share.
The company anticipates a healthy double-digit earnings increase in the fourth quarter.
RCM Technologies
RCM Technologies
RCM Technologies Revenue by Segment
Revenue by Segment
Specialty Health Care Revenue
CapyFin.comEngineering Revenue
CapyFin.com Forward Guidance
Company believes they are set up for a healthy double-digit earnings increase in the fourth quarter, consistent with their long-term trajectory. Also, they expect to continue to see strong cash flow from operations during the second half of fiscal 2023.
Positive Outlook
- Set up for a healthy double-digit earnings increase in the fourth quarter
- Consistent with long-term trajectory
- Expect to continue to see strong cash flow from operations during the second half of fiscal 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income