- RCM Technologies ( NASDAQ: RCMT ) stock dropped to an over 3-month low on Thursday despite the company reporting largely in-line Q2 results .
- Q2 GAAP EPS of $0.57 vs. $0.11 in Q2 2021.
- Revenue increased 51.9% Y/Y to $74.34M, while adj. EBITDA more than tripled to $8.4M.
- "After considering seasonal school closures, Q2 revenue was consistent with trends experienced in Q1. We anticipate strong results for the balance of 2022, and now intend to focus on delivering robust growth in 2023," said CFO Kevin Miller.
- RCMT generated operating cash flow of $18.3M in Q2 and $20.8M YTD.
- Shares of RCMT, which are on track to post their third straight weekly gain, have more than doubled in value YTD.
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RCM Technologies stock hits over 3-month low despite largely in-line results