RCM Technologies Reports Steady Revenue Growth in 2024

RCM (RCMT) ( (RCMT) ) has released its Q4 earnings. Here is a breakdown of the information RCM (RCMT) presented to its investors.

RCM Technologies, Inc., a provider of engineering, healthcare, and IT solutions, operates in sectors such as aerospace, defense, and life sciences. The company recently released its financial results for the fourth quarter and fiscal year 2024, highlighting a steady growth in revenue. For the fourth quarter of 2024, RCM Technologies reported an 8.3% increase in revenue to $76.9 million compared to the same period in 2023. However, the net income for the quarter decreased to $2.9 million from $5.3 million in the previous year. Despite the decline in net income, the company saw a rise in adjusted EBITDA, indicating operational improvements. On an annual basis, RCM Technologies achieved a 5.8% increase in revenue, reaching $278.4 million for the fiscal year 2024. The gross profit also saw a modest increase, although the net income slightly decreased to $13.3 million from $16.8 million in 2023. The company continues to focus on strategic initiatives to enhance its earnings potential. Looking ahead, RCM Technologies’ management remains optimistic about 2025, emphasizing the foundation laid for future earnings growth.