Company Performance - RCM Technologies, Inc. reported quarterly earnings of $0.56 per share, matching the Zacks Consensus Estimate, and an increase from $0.47 per share a year ago [1] - The company posted revenues of $69.16 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.05%, compared to $67.04 million in the same quarter last year [2] - RCM Technologies has surpassed consensus EPS estimates three times over the last four quarters, but has not beaten consensus revenue estimates during the same period [2][3] Stock Performance - RCM Technologies shares have declined approximately 35.9% since the beginning of the year, while the S&P 500 has gained 9.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.43 on revenues of $61.41 million, and for the current fiscal year, it is $2.28 on revenues of $278.04 million [7] Industry Outlook - The Staffing Firms industry, to which RCM Technologies belongs, is currently ranked in the bottom 22% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact RCM Technologies' stock performance [5][6]

Financial Performance - RCM Technologies reported revenue of $69.2 million for the thirteen weeks ended June 29, 2024, a 3.2% increase from $67.0 million in the prior year[2] - Gross profit for the current quarter was $20.0 million, reflecting a 6.6% increase compared to $18.8 million in the comparable prior quarter[2] - GAAP net income for the current quarter was $3.8 million, or $0.47 per diluted share, compared to $4.0 million, or $0.47 per diluted share, in the prior year[2] - Adjusted EBITDA (non-GAAP) for the current quarter was $7.2 million, a 10.8% increase from $6.5 million in the comparable prior quarter[2] - For the twenty-six weeks ended June 29, 2024, revenue was $141.1 million, a 5.2% increase from $134.2 million in the prior year[3] - Gross profit for the twenty-six weeks was $40.4 million, a 6.8% increase compared to $37.8 million in the prior year[3] - The company experienced adjusted net income per diluted share (non-GAAP) of $1.10 for the current period, up from $0.92 in the prior year[3] Segment Performance - Engineering segment growth was highlighted as a key driver of second-quarter performance, with project activity increasing[4] - The gross profit for the Specialty Health Care segment was $10,639,000 for the thirteen weeks ended June 29, 2024, representing a gross profit margin of 28.8%[14] Cash Flow and Assets - Net cash provided by operating activities for the thirteen weeks ended June 29, 2024, was $5,725,000, a decrease from $17,343,000 for the same period last year[19] - Total current assets decreased to $85,287,000 as of June 29, 2024, down from $90,502,000 at December 30, 2023[18] - Cash and cash equivalents decreased to $3,480,000 as of June 29, 2024, from $6,284,000 at December 30, 2023[18] - Net cash used in financing activities for the thirteen weeks ended June 29, 2024, was $(3,796,000), compared to $(17,631,000) for the same period last year[19] Liabilities and Deficit - Total liabilities decreased to $89,826,000 as of June 29, 2024, from $94,694,000 at December 30, 2023[18] - The company’s accumulated deficit improved to $(11,551,000) as of June 29, 2024, from $(19,265,000) at December 30, 2023[18] Future Outlook - The company emphasized its strong cash-generating business model, which supports growth and capital management[4] - RCM Technologies will host a conference call on August 8, 2024, to discuss these results further[5] Consolidated Results - Consolidated revenue for the thirteen weeks ended June 29, 2024, was $69,164,000, a 3.2% increase from $67,035,000 for the same period last year[14] - Gross profit margin for the consolidated results improved to 28.9% for the thirteen weeks ended June 29, 2024, compared to 28.0% for the same period last year[14] - The company reported a net income of $3,762,000 for the thirteen weeks ended June 29, 2024, compared to $3,983,000 for the same period last year[19]

NEW YORK, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating R1 RCM Inc. (Nasdaq: RCM), relating to its proposed sale to investment funds affiliated with TowerBrook Capital Partners and Clayton, Dubilier & Rice. Under the terms of the agreement, RC ...

Core Viewpoint - Wohl & Fruchter LLP is investigating the fairness of R1 RCM, Inc.'s sale price of $14.30 per share to TowerBrook Capital Partners and Clayton, Dubilier & Rice, which is below the target prices set by Wall Street analysts [1][3]. Group 1: Sale Details - RCM agreed to be sold for $14.30 per share in cash, as recommended by a Special Committee of RCM's board of directors [3]. - As of March 28, 2024, TowerBrook already owned 35.7% of RCM's common stock [3]. Group 2: Analyst Price Targets - The sale price of $14.30 is below the target prices set by various Wall Street analysts, including: - $20.00 by Charles Rhyee of TD Cowen - $19.00 by Sean Dodge of RBC Capital - $18.00 by Vikram Kesavabhotla of Robert W. Baird - $18.00 by Glen Santangelo of Jefferies - $17.00 by Jack Wallace of Guggenheim - $17.00 by Michael Cherny of Leerink Partners [3]. Group 3: Investigation Focus - The investigation will assess whether the RCM Board of Directors acted in the best interests of shareholders, the independence of the Special Committee, the fairness of the agreed price, and the completeness of information disclosed regarding the transaction [3].

MILWAUKEE, Aug. 1, 2024 /PRNewswire/ -- Ademi LLP is investigating R1 (NASDAQ: RCM) for possible breaches of fiduciary duty and other violations of law in its transaction with TowerBrook and CD&R. Click here to learn how to join our investigation https://www.ademilaw.com/case/r1rcm-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you. R1 stockholders will receive only $14.30 per share in an all-cash transaction with an enterprise value of approximately $8.9 billion. TowerB ...

MURRAY, Utah, Aug. 01, 2024 (GLOBE NEWSWIRE) -- R1 RCM Inc. (NASDAQ: RCM) ("R1" or the "Company"), a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers, today announced that it has entered into a definitive agreement to be acquired by investment funds affiliated with TowerBrook Capital Partners and Clayton, Dubilier & Rice ("CD&R"), in an all-cash transaction with an enterprise value of approximately $8.9 billion. An invest ...

You can find more information on all of these metrics, and much more, on Zacks.com. Heading into today, shares of the company had gained 8.3% over the past month, outpacing the Business Services sector's loss of 0.49% and the S&P 500's gain of 0.1% in that time. Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for RCM Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estim ...

Shares of this company have returned +5.7% over the past month versus the Zacks S&P 500 composite's -0.3% change. The Zacks Staffing Firms industry, to which RCM Technologies belongs, has gained 2.6% over this period. Now the key question is: Where could the stock be headed in the near term? Revisions to Earnings Estimates We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up ...

MURRAY, Utah, July 15, 2024 (GLOBE NEWSWIRE) -- R1 RCM Inc. (NASDAQ: RCM), a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers, today announced it expects to release financial results for the three months ended June 30, 2024, before market open on Wednesday, August 7, 2024 and host a conference call at 8:00 a.m. ET to review the results. Investors and other interested parties are invited to listen to the conference call by ...

The the stock of company has fallen by 3.94% in the past month, lagging the Business Services sector's gain of 0.23% and the S&P 500's gain of 4.44%. Investors will be eagerly watching for the performance of RCM Technologies, Inc. in its upcoming earnings disclosure. On that day, RCM Technologies, Inc. is projected to report earnings of $0.56 per share, which would represent year-over-year growth of 19.15%. Simultaneously, our latest consensus estimate expects the revenue to be $69.9 million, showing a 4.27 ...