The investment community will be closely monitoring the performance of RCM Technologies, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.56, reflecting a 19.15% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $69.9 million, up 4.27% from the year-ago period. For the full year, the Zacks Consensus Estimates project earnings of $2.28 per share and a revenue of $278.04 million, demons ...

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, RCM Technologies is rated Zacks Rank #4 (Sell). Although media reports or rumors about a significant change in a company's business p ...

For the next fiscal year, the consensus earnings estimate of $2.60 indicates a change of +14% from what RCM Technologies is expected to report a year ago. Over the past month, the estimate has changed +7.4%. For the current fiscal year, the consensus earnings estimate of $2.28 points to a change of +8.1% from the prior year. Over the last 30 days, this estimate has changed +7.6%. RCM Technologies, Inc. (RCMT) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to revi ...

MURRAY, Utah, May 24, 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 its management team will present at the 2024 Jefferies Global Healthcare Conference on Wednesday, June 5, 2024, at 10:30am ET. A live audio webcast of this presentation will be available on the Investor Relations section of R1's website at r1rcm.com. A replay of the webcast will be ...

RCM Technologies, Inc. (RCMT) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked b ...

RCM Technologies, Inc. (RCMT) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. The upward trend in estimate revisions for this company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends i ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true ...

Financial Data and Key Metrics Changes - Consolidated gross profit for Q1 2024 grew by 7.1% from $19.0 million to $20.4 million [114] - Adjusted EBITDA for Q1 increased by 11.1% from $6.1 million to $6.8 million [114] - Adjusted diluted EPS for Q1 rose by 30.4% from $0.41 to $0.53 [114] - Revenue growth for 2024 is estimated at about 12.8% when excluding the impact of COVID and a slow-paying client [13] Business Line Data and Key Metrics Changes - Healthcare gross profit decreased by 2.4%, but revenue grew by approximately 7.3% when excluding COVID impacts [28] - Life sciences data and solutions gross profit grew by 7.9% [28] - Engineering gross profit increased by 27.1% [28] - K-12 education business revenue for Q1 2024 was $31.9 million, reflecting a growth of 19.1% after removing COVID revenue from the previous year [13] Market Data and Key Metrics Changes - Energy services reported strong results with double-digit revenue and EBITDA increases [8] - The Aerospace and Defense Group experienced mixed results, with a low workload in the aftermarket segment but still achieved year-over-year EBITDA growth [10] Company Strategy and Development Direction - The company is focusing on expanding its client base in K-12 education and has onboarded five new school districts, with twelve more in negotiation [6][22] - There is a strategic emphasis on energy services, particularly in the zero carbon chemical manufacturing sector [9][24] - The introduction of a shared services team aims to streamline strategic focus and enhance collaboration across groups [107] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong momentum for the remainder of 2024, anticipating a reacceleration of growth in healthcare as headwinds diminish [8][105] - The company is optimistic about the robust school pipeline and expects significant revenue contributions starting in the 2024-2025 school year [115] - Management highlighted the importance of cash flow and working capital management, aiming to reduce days sales outstanding (DSO) to the low 70s [36][59] Other Important Information - The new Thermal Kinetics testing lab achieved 100% utilization in Q1 2024, with continued client interest expected [25] - The company is exploring bolt-on acquisitions that align with its growth strategy and technical capabilities [69] Q&A Session Summary Question: What is the outlook for cash flow in Q2 and Q3? - Management expects Q2 and Q3 cash flow to be significantly better than Q1, aiming for more than double the cash flow from operations [34] Question: What is the current DSO and target? - DSO for the quarter was 93, with a long-term goal to reduce it to the low 70s [36] Question: How is the school pipeline expected to impact revenue? - Management anticipates better visibility on contracts and revenue generation by the next earnings call in August [37] Question: What are the reasons for fluctuations in accounts receivable? - Fluctuations are attributed to administrative processes with clients, particularly in the school sector, which can delay payments [80][82] Question: What is the impact of new contracts on margins? - There may be initial margin headwinds due to administrative procedures, but overall margins are expected to remain stable [64]

[RCM Technologies, Inc. Announces First-Quarter Results](index=1&type=section&id=RCM%20Technologies%2C%20Inc.%20Announces%20First-Quarter%20Results) RCM Technologies reported strong first-quarter 2024 financial results with significant growth in revenue, gross profit, and adjusted EBITDA [First-Quarter Financial Highlights](index=1&type=section&id=1.1%20First-Quarter%20Financial%20Highlights) RCM Technologies reported strong financial performance for the first quarter ended March 30, 2024, with significant year-over-year increases in revenue, gross profit, GAAP net income, and non-GAAP adjusted EBITDA and EPS First-Quarter Financial Highlights | Metric | Q1 2024 (Thirteen Weeks Ended March 30, 2024) | Q1 2023 (Thirteen Weeks Ended April 1, 2023) | Change (%) | | :-------------------------------- | :------------------------------------------ | :----------------------------------------- | :--------- | | Revenue | $71.9 million | $67.1 million | +7.2% | | Gross Profit | $20.4 million | $19.0 million | +7.1% | | GAAP Net Income | $4.0 million | $3.8 million | +5.3% | | GAAP Diluted EPS | $0.48 | $0.41 | +17.1% | | Adjusted EBITDA (non-GAAP) | $6.8 million | $6.1 million | +11.5% | | Adjusted Net Income per Diluted Share (non-GAAP) | $0.53 | $0.41 | +29.3% | [Executive Commentary](index=1&type=section&id=1.2%20Executive%20Commentary) Executive Chairman Bradley Vizi highlighted the widening strategic focus and execution across all teams to propel future growth. CFO Kevin Miller noted significant increases in adjusted EBITDA and adjusted EPS, along with improved cash conversion, anticipating continued cash flow improvement - Executive Chairman Bradley Vizi emphasized the organization's broadening and deepening strategic focus, with all teams executing current initiatives and seeding new ones for future growth[4](index=4&type=chunk) - CFO Kevin Miller reported an **11.1% increase in adjusted EBITDA** and a **30.4% increase in adjusted EPS** for the first quarter. Cash conversion improved both sequentially and year-over-year, with expectations for continued improvement in cash flow from operations in the next two quarters[4](index=4&type=chunk) [Company Overview and Disclosures](index=2&type=section&id=Company%20Overview%20and%20Disclosures) This section provides an overview of RCM Technologies' business, conference call details, and forward-looking statement disclosures [About RCM Technologies](index=2&type=section&id=2.1%20About%20RCM%20Technologies) RCM Technologies is a business and technology solutions provider specializing in Health Care, Engineering, Aerospace & Defense, Process & Industrial, Life Sciences, and Data & Solutions, aiming to modernize industries through advanced technologies - RCM Technologies (NasdaqGM: RCMT) is a premier provider of business and technology solutions[7](index=7&type=chunk) - The company operates at the intersection of resources, critical infrastructure, and modernization of industries through advanced technologies[7](index=7&type=chunk) - RCM provides services in Health Care, Engineering, Aerospace & Defense, Process & Industrial, Life Sciences, and Data & Solutions[7](index=7&type=chunk) [Conference Call Information](index=2&type=section&id=2.2%20Conference%20Call%20Information) RCM Technologies will host a conference call on Thursday, May 9, 2024, at 11:30 a.m. Eastern Time to discuss the first-quarter results - A conference call to discuss the results will be held on Thursday, May 9, 2024, at 11:30 a.m. Eastern Time[6](index=6&type=chunk) - The dial-in number for the conference call is (800) 285-6670[6](index=6&type=chunk) [Forward-Looking Statements](index=2&type=section&id=2.3%20Forward-Looking%20Statements) This section contains a standard disclaimer regarding forward-looking statements, highlighting that actual results may differ materially due to various risks and uncertainties, and the company disclaims any obligation to update these statements - Statements in the release that are not purely historical are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995[8](index=8&type=chunk) - These statements are subject to various risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied[8](index=8&type=chunk) - The Company assumes no obligation to update any forward-looking statements, except as required by law[8](index=8&type=chunk) [Detailed Financial Results](index=3&type=section&id=Detailed%20Financial%20Results) This section presents RCM Technologies' GAAP and non-GAAP financial statements, including statements of operations, balance sheets, and cash flows [Condensed Consolidated Statements of Operations (GAAP)](index=3&type=section&id=3.1%20Condensed%20Consolidated%20Statements%20of%20Operations%20%28GAAP%29) The condensed consolidated statements of operations present the company's GAAP financial performance for the thirteen weeks ended March 30, 2024, and April 1, 2023, showing increases across key profitability metrics Condensed Consolidated Statements of Operations (GAAP) | Metric (In Thousands, Except Per Share Amounts) | Thirteen Weeks Ended March 30, 2024 | Thirteen Weeks Ended April 1, 2023 | | :---------------------------------------------- | :---------------------------------- | :--------------------------------- | | Revenue | $71,939 | $67,124 | | Cost of services | 51,572 | 48,100 | | Gross profit | 20,367 | 19,024 | | Selling, general and administrative | 14,199 | 13,396 | | Depreciation and amortization of property and equipment | 287 | 271 | | Amortization of acquired intangible assets | 45 | 45 | | Gain on sale of assets | - | (395) | | Operating income | 5,836 | 5,707 | | Other expense, net | 426 | 407 | | Income before income taxes | 5,410 | 5,300 | | Income tax expense | 1,458 | 1,463 | | Net income | $3,952 | $3,837 | | Diluted net earnings per share data | $0.48 | $0.41 | | Diluted weighted average shares outstanding | 8,170,839 | 9,401,867 | [Supplemental Operating Results (Non-GAAP)](index=4&type=section&id=3.2%20Supplemental%20Operating%20Results%20%28Non-GAAP%29) This section provides a reconciliation of GAAP financial measures to non-GAAP measures, including Adjusted operating income, EBITDA, Adjusted EBITDA, Adjusted net income, and Adjusted diluted net earnings per share, which management believes offer useful insights into ongoing operational performance - Non-GAAP measures like Adjusted operating income, EBITDA, and Adjusted EBITDA are presented to provide investors with useful information for gauging operational results and enhancing understanding of financial performance[13](index=13&type=chunk) - These non-GAAP measures should not be considered alternatives to net income or as substitutes for GAAP results, but rather read in conjunction with consolidated financial statements[13](index=13&type=chunk) [Adjusted Operating Income, EBITDA, and Adjusted EBITDA Reconciliation](index=4&type=section&id=3.2.1%20Adjusted%20Operating%20Income%2C%20EBITDA%2C%20and%20Adjusted%20EBITDA%20Reconciliation) This sub-section details the adjustments made to GAAP operating income and net income to derive non-GAAP Adjusted operating income, EBITDA, and Adjusted EBITDA, including equity compensation and gain/loss on asset sales Adjusted Operating Income, EBITDA, and Adjusted EBITDA Reconciliation | Metric (In Thousands) | Thirteen Weeks Ended March 30, 2024 | Thirteen Weeks Ended April 1, 2023 | | :------------------------------------ | :---------------------------------- | :--------------------------------- | | GAAP operating income | $5,836 | $5,707 | | Adjustments: | | | | Gain on sale of assets | - | (395) | | Equity compensation | 635 | 496 | | **Adjusted operating income (non-GAAP)** | **$6,471** | **$5,808** | | GAAP net income | $3,952 | $3,837 | | Income tax expense | 1,458 | 1,463 | | Interest expense, net | 478 | 360 | | Depreciation of property and equipment | 287 | 271 | | Amortization of acquired intangible assets | 45 | 45 | | **EBITDA (non-GAAP)** | **$6,220** | **$5,976** | | Adjustments: | | | | Gain on sale of assets | - | (395) | | (Gain) loss on foreign currency transactions | (52) | 47 | | Equity compensation | 635 | 496 | | **Adjusted EBITDA (non-GAAP)** | **$6,803** | **$6,124** | [Adjusted Net Income and EPS Reconciliation](index=5&type=section&id=3.2.2%20Adjusted%20Net%20Income%20and%20EPS%20Reconciliation) This sub-section provides the reconciliation from GAAP net income and diluted EPS to their non-GAAP adjusted counterparts, accounting for items such as gain/loss on asset sales, foreign currency transactions, equity compensation, and tax impact from a normalized rate Adjusted Net Income and EPS Reconciliation | Metric | Thirteen Weeks Ended March 30, 2024 | Thirteen Weeks Ended April 1, 2023 | | :------------------------------------------ | :---------------------------------- | :--------------------------------- | | GAAP net income | $3,952 | $3,837 | | Adjustments: | | | | Gain on sale of assets | - | (395) | | (Gain) loss on foreign currency transactions | (52) | 47 | | Equity compensation | 635 | 496 | | Tax impact from normalized rate | (174) | (136) | | **Adjusted net income (non-GAAP)** | **$4,361** | **$3,849** | | GAAP diluted net earnings per share | $0.48 | $0.41 | | Adjustments: | | | | Gain on sale of assets | - | (0.04) | | (Gain) loss on foreign currency transactions | 0.00 | 0.00 | | Equity compensation | 0.08 | 0.05 | | Tax impact from normalized rate | (0.03) | (0.01) | | **Adjusted diluted net earnings per share (non-GAAP)** | **$0.53** | **$0.41** | [Summary of Selected Income Statement Data by Segment](index=6&type=section&id=3.3%20Summary%20of%20Selected%20Income%20Statement%20Data%20by%20Segment) This section provides a detailed breakdown of revenue, cost of services, gross profit, and gross profit margin across RCM Technologies' key segments: Specialty Health Care, Engineering, and Life Sciences and IT, for the first quarters of 2024 and 2023 Summary of Selected Income Statement Data by Segment | Segment | Q1 2024 Revenue (Thousands) | Q1 2023 Revenue (Thousands) | Q1 2024 Gross Profit (Thousands) | Q1 2023 Gross Profit (Thousands) | Q1 2024 Gross Profit Margin | Q1 2023 Gross Profit Margin | | :-------------------- | :-------------------------- | :-------------------------- | :------------------------------- | :------------------------------- | :-------------------------- | :-------------------------- | | Specialty Health Care | $38,182 | $39,130 | $11,074 | $11,672 | 29.0% | 29.8% | | Engineering | $23,505 | $18,490 | $5,502 | $4,046 | 23.4% | 21.9% | | Life Sciences and IT | $10,252 | $9,504 | $3,791 | $3,306 | 37.0% | 34.8% | | Consolidated | $71,939 | $67,124 | $20,367 | $19,024 | 28.3% | 28.3% | [Condensed Consolidated Balance Sheets](index=7&type=section&id=3.4%20Condensed%20Consolidated%20Balance%20Sheets) The condensed consolidated balance sheets provide a snapshot of RCM Technologies' financial position as of March 30, 2024, compared to December 30, 2023, detailing assets, liabilities, and stockholders' equity Condensed Consolidated Balance Sheets | Account (In Thousands) | March 30, 2024 (Unaudited) | December 30, 2023 | | :------------------------------------ | :------------------------- | :---------------- | | **Assets:** | | | | Cash and cash equivalents | $2,099 | $6,284 | | Accounts receivable, net | 73,486 | 70,690 | | Total current assets | 89,822 | 90,502 | | Goodwill | 22,147 | 22,147 | | Total assets | $120,483 | $120,484 | | **Liabilities:** | | | | Accounts payable and accrued expenses | $13,596 | $12,454 | | Transit accounts payable | 31,715 | 31,102 | | Total current liabilities | 62,808 | 58,196 | | Borrowings under line of credit | 22,159 | 30,804 | | Total liabilities | 91,086 | 94,694 | | **Stockholders' Equity:** | | | | Total stockholders' equity | 29,397 | 25,790 | | Total liabilities and stockholders' equity | $120,483 | $120,484 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=3.5%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The condensed consolidated statements of cash flows illustrate the cash generated from or used in operating, investing, and financing activities for the thirteen weeks ended March 30, 2024, and April 1, 2023, showing a net decrease in cash and cash equivalents in the current quarter Condensed Consolidated Statements of Cash Flows | Cash Flow Activity (In Thousands) | Thirteen Weeks Ended March 30, 2024 | Thirteen Weeks Ended April 1, 2023 | | :-------------------------------- | :---------------------------------- | :--------------------------------- | | Net cash provided by (used in) operating activities | $6,426 | ($832) | | Net cash used in investing activities | ($669) | ($332) | | Net cash (used in) provided by financing activities | ($9,714) | $2,416 | | Effect of exchange rate changes on cash and cash equivalents | ($228) | $234 | | (Decrease) increase in cash and cash equivalents | ($4,185) | $1,486 |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 1-10245 RCM TECHNOLOGIES, INC. (Exact Name of Registrant as Specified in its Charter) Nevada 95-1480559 (State or Other Jurisd ...