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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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