R C M Tech Inc Down 21.60% To $22.56 After Earnings Beat

R C M Tech Inc (RCMT) said after close Wednesday that it earned $0.71 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $71 million, missing estimates by $1.3 million.

In the same quarter a year ago, the company earned $0.52 per share on revenue of $70.2 million.

The stock is down 21.60% to $22.56 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned R C M Tech Inc a Bullish Sentiment Rank from InvestorsObserver.

R C M Tech Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 82, putting R C M Tech Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $32.15 on January 8, 2024 and set a 52-week low on March 23, 2023 at $10.11.

RCM Technologies Inc is a provider of business and technology solutions designed to enhance and maximize the operational performance of its customers. It operates in three segments: Engineering, which provides a comprehensive portfolio of engineering and design services across three verticals: Energy Services, Process & Industrial, and Aerospace; Information Technology; and Specialty Health Care Services, engaged in providing the staffing of health care professionals, primarily health information management professionals, nurses, paraprofessionals, physicians, and therapists. The company generates maximum revenue from the Specialty Health Care segment. Geographically, it derives a majority of revenue from the United States and also has a presence in Canada, Puerto Rico, and Serbia.