RCM Technologies, Inc. (RCMT) Matches Q2 Earnings Estimates

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]