RBC Bearings Incorporated Announces Fiscal 2024 Third Quarter Results
- 6.3% increase in net sales compared to the previous year
- 22.5% growth in Aerospace/Defense segment
- 0.6% decrease in Industrial segment net sales
- Gross margin improved to 42.3%
- Net income increased by 28.4%
- Adjusted EBITDA remained steady at 29.3% of net sales
- None.
Insights
The reported financial results by RBC Bearings Incorporated indicate a positive trajectory in the company's performance, with a 6.3% increase in net sales and notable growth in the Aerospace/Defense sector by 22.5%. This sectoral growth is particularly significant, as it suggests a robust demand for aerospace and defense-related products, which could be attributed to increased global defense spending and a rebound in the aerospace industry post-pandemic.
The improvement in gross margin from 41.5% to 42.3% reflects the company's ability to manage costs effectively, despite potential inflationary pressures on raw materials and supply chains. The reported increase in net income by 28.4% and a higher diluted EPS by 32.4% year-over-year are strong indicators of profitability, which could positively influence investor sentiment and the stock's performance.
However, the increase in SG&A expenses as a percentage of net sales from 16.1% to 17.1% warrants attention, as it could be indicative of rising operational costs that may impact future margins if not managed appropriately. The reduction in interest expenses and a lower effective income tax rate are beneficial for net income, but the sustainability of these reductions should be scrutinized.
Lastly, the backlog growth suggests a healthy order book, which provides visibility into future revenue. However, investors should consider the portion of the backlog expected to be fulfilled beyond 12 months, as it may affect short-term liquidity and cash flows.
The reported results by RBC Bearings Incorporated highlight several market dynamics. The strong performance in the Aerospace/Defense segment could be reflective of a broader industry trend where defense spending is on the rise and commercial aviation is recovering from the impacts of the COVID-19 pandemic. This segment's growth is a critical driver for the company's overall performance and could be seen as a barometer for the health of these industries.
Conversely, the slight decline in the Industrial segment may suggest a more nuanced market situation, potentially impacted by macroeconomic factors or sector-specific challenges. It's important for stakeholders to understand the underlying causes of this decline, as it may have implications for future growth strategies and investment in this segment.
The projected net sales growth for the fourth quarter of fiscal 2024 indicates management's confidence in continued demand, but the forecasted growth rate is modest. This conservative outlook may reflect uncertainty in global markets or a strategic focus on profitability over volume.
From an economic perspective, RBC Bearings Incorporated's financial results can be seen as a microcosm of the broader economic environment. The company's ability to increase net sales and gross margins in a period that may be characterized by economic recovery or continued uncertainty is noteworthy. It suggests that the company has pricing power and can pass on increased costs to customers without significantly affecting demand.
The effective income tax rate reduction from 24.4% to 18.1% may be influenced by changes in tax policies or the realization of tax benefits, which can have material effects on net income. Investors should be aware that such benefits may not be recurring and could impact comparability of future earnings.
Furthermore, the backlog increase is an indicator of future economic activity and could signal a positive outlook for the sectors RBC Bearings serves. However, the fulfillment timeline of these orders is crucial for understanding the company's cash flow and investment needs.
Third Quarter Financial Highlights
-
Third quarter net sales of
$373.9 million 6.3% over last year, Aerospace/Defense up22.5% and Industrial down0.6% .
-
Gross margin of
42.3% in the third quarter of fiscal 2024 compared to41.5% for the same quarter last year.
-
Third quarter net income as a percentage of net sales of
12.5% vs10.3% last year; Adjusted EBITDA as a percentage of net sales of29.3% vs29.4% last year.
($ in millions) |
Fiscal 2024 |
|
Fiscal 2023 |
|
Change |
|||||||||||||
GAAP |
Adjusted (1) |
GAAP |
Adjusted (1) |
GAAP |
Adjusted (1) |
|||||||||||||
Net sales |
$ |
373.9 |
|
|
$ |
351.6 |
|
|
6.3 |
% |
|
|||||||
Gross margin |
$ |
158.0 |
|
$ |
158.0 |
|
$ |
146.0 |
|
$ |
146.0 |
|
8.2 |
% |
8.2 |
% |
||
Gross margin % |
|
42.3 |
% |
|
42.3 |
% |
|
41.5 |
% |
|
41.5 |
% |
|
|
||||
Operating income |
$ |
75.2 |
|
$ |
75.5 |
|
$ |
70.4 |
|
$ |
71.6 |
|
7.0 |
% |
5.3 |
% |
||
Operating income % |
|
20.1 |
% |
|
20.2 |
% |
|
20.0 |
% |
|
20.4 |
% |
|
|
||||
Net income |
$ |
46.6 |
|
$ |
60.0 |
|
$ |
36.3 |
|
$ |
53.3 |
|
28.4 |
% |
12.4 |
% |
||
Net income attributable to common stockholders |
$ |
40.8 |
|
$ |
54.2 |
|
$ |
30.6 |
|
$ |
47.7 |
|
33.2 |
% |
13.6 |
% |
||
Diluted EPS |
$ |
1.39 |
|
$ |
1.85 |
|
$ |
1.05 |
|
$ |
1.64 |
|
32.4 |
% |
12.8 |
% |
||
(1) Results exclude items in reconciliation below. |
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|
|
|
|
|
|
|
||||||||||
|
|
|
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Nine Month Financial Highlights
($ in millions) |
Fiscal 2024 |
|
Fiscal 2023 |
|
Change |
|||||||||||||
GAAP |
Adjusted (1) |
GAAP |
Adjusted (1) |
GAAP |
Adjusted (1) |
|||||||||||||
Net sales |
$ |
1,146.6 |
|
|
$ |
1,074.9 |
|
|
6.7 |
% |
|
|||||||
Gross margin |
$ |
492.2 |
|
$ |
492.5 |
|
$ |
438.3 |
|
$ |
438.3 |
|
12.3 |
% |
12.4 |
% |
||
Gross margin % |
|
42.9 |
% |
|
43.0 |
% |
|
40.8 |
% |
|
40.8 |
% |
|
|
||||
Operating income |
$ |
248.0 |
|
$ |
249.2 |
|
$ |
206.9 |
|
$ |
215.9 |
|
19.9 |
% |
15.4 |
% |
||
Operating income % |
|
21.6 |
% |
|
21.7 |
% |
|
19.2 |
% |
|
20.1 |
% |
|
|
||||
Net income |
$ |
148.3 |
|
$ |
196.6 |
|
$ |
117.5 |
|
$ |
172.8 |
|
26.2 |
% |
13.7 |
% |
||
Net income attributable to common stockholders |
$ |
131.0 |
|
$ |
179.3 |
|
$ |
100.4 |
|
$ |
155.6 |
|
30.6 |
% |
15.2 |
% |
||
Diluted EPS |
$ |
4.49 |
|
$ |
6.15 |
|
$ |
3.45 |
|
$ |
5.36 |
|
30.1 |
% |
14.7 |
% |
||
(1) Results exclude items in reconciliation below. |
|
|
|
|
|
|
|
|
||||||||||
“As expected, third quarter results showed a
Third Quarter Results
Net sales for the third quarter of fiscal 2024 were
SG&A for the third quarter of fiscal 2024 was
Other operating expenses for the third quarter of fiscal 2024 totaled
Operating income for the third quarter of fiscal 2024 was
Interest expense, net, was
Income tax expense for the third quarter of fiscal 2024 was
Net income for the third quarter of fiscal 2024 was
Diluted EPS attributable to common stockholders for the third quarter of fiscal 2024 was
Backlog as of December 30, 2023, was
Outlook for the Fourth Quarter Fiscal 2024
The Company expects net sales to be approximately
Live Webcast
RBC Bearings Incorporated will host a webcast on Thursday, February 8th, 2024, at 11:00 a.m. ET to discuss the quarterly results. To access the webcast, go to the investor relations portion of the Company’s website, www.rbcbearings.com, and click on the webcast icon. If you do not have access to the Internet and wish to listen to the call, dial 877-407-4019 (international callers dial +1 201-689-8337) and provide conference ID # 13744033. An audio replay of the call will be available from 2:00 p.m. ET February 8th, 2024, until 2:00 p.m. ET February 22nd, 2024. The replay can be accessed by dialing 877-660-6853 (international callers dial +1 201-612-7415) and providing conference ID # 13744033. Investors are advised to dial into the call at least ten minutes prior to the call to register.
Non-GAAP Financial Measures
In addition to disclosing results of operations that are determined in accordance with
Adjusted Gross Margin and Adjusted Operating Income
Adjusted gross margin excludes the impact of restructuring costs associated with the closing of a plant. Adjusted operating income excludes acquisition expenses (including the impact of acquisition-related fair value adjustments in connection with purchase), restructuring and other similar charges, and other non-operational, non-cash or non-recurring losses. We believe that adjusted operating income is useful in assessing our financial performance by excluding items that are not indicative of our core operating performance or that may obscure trends useful in evaluating our continuing results of operations.
Adjusted Net Income Attributable to Common Stockholders and Adjusted Earnings Per Share Attributable to Common Stockholders
Adjusted net income attributable to common stockholders and adjusted earnings per share attributable to common stockholders (calculated on a diluted basis) exclude non-cash expenses for amortization related to acquired intangible assets, stock-based compensation, amortization of deferred finance fees, acquisition expenses (including the impact of acquisition-related fair value adjustments in connection with purchase), restructuring and other similar charges, gains or losses on divestitures, discontinued operations, gains or losses on extinguishment of debt, and other non-operational, non-cash or non-recurring losses, net of their income tax impact. We believe that adjusted net income and adjusted earnings per share are useful in assessing our financial performance by excluding items that are not indicative of our core operating performance or that may obscure trends useful in evaluating our continuing results of operations.
Adjusted EBITDA
We use the term “Adjusted EBITDA” to describe net income adjusted for the items summarized in the “Reconciliation of GAAP to Non-GAAP Financial Measures” table below. Adjusted EBITDA is intended to show our unleveraged, pre-tax operating results and therefore reflects our financial performance based on operational factors, excluding non-operational, non-cash or non-recurring losses or gains. In view of our debt level, Adjusted EBITDA aids our investors in understanding our compliance with our debt covenants. Management and various investors use the ratio of total debt less cash to Adjusted EBITDA, or “net debt leverage,” as a measure of our financial strength and ability to incur incremental indebtedness when making investment decisions and evaluating us against peers. Lastly, management and various investors use the ratio of the change in Adjusted EBITDA divided by the change in net sales (referred to as “incremental margin” in the case of an increase in net sales or “decremental margin” in the case of a decrease in net sales) as an additional measure of our financial performance and some investors utilize it when making investment decisions and evaluating us against peers.
Adjusted EBITDA is not a presentation made in accordance with GAAP, and our definition of Adjusted EBITDA may vary from the definition used by others in our industry. Adjusted EBITDA should not be considered as an alternative to net income, income from operations, or any other performance measures derived in accordance with GAAP. Adjusted EBITDA has important limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of our results as reported under GAAP. For example, Adjusted EBITDA does not reflect (a) our capital expenditures, future requirements for capital expenditures or contractual commitments; (b) changes in, or cash requirements for, our working capital needs; (c) the significant interest expenses, or the cash requirements necessary to service interest or principal payments, on our debt; (d) tax payments that represent a reduction in cash available to us; (e) any cash requirements for the assets being depreciated and amortized that may have to be replaced in the future; or (f) the impact of earnings or charges resulting from matters that we and the lenders under our credit agreement may not consider indicative of our ongoing operations. In particular, our definition of Adjusted EBITDA adds back certain non-cash, non-operating or non-recurring charges that are deducted in calculating net income, even though these are expenses that may recur or vary greatly, are difficult to predict, and can represent the effect of long-term strategies as opposed to short-term results. In addition, certain of these expenses can represent the reduction of cash that could be used for other corporate purposes. Further, although not included in the calculation of Adjusted EBITDA below, the measure may at times (i) include estimated cost savings and operating synergies related to operational changes ranging from acquisitions to dispositions to restructurings and/or (ii) exclude one-time transition expenditures that we anticipate we will need to incur to realize cost savings before such savings have occurred.
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings, components and essential systems. Founded in 1919, the Company is primarily focused on producing highly technical or regulated bearing products and components requiring sophisticated design, testing, and manufacturing capabilities for the diversified industrial, aerospace and defense markets. The Company is headquartered in
Safe Harbor for Forward Looking Statements
Certain statements in this press release contain “forward-looking statements.” All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including the following: the section of this press release entitled “Outlook”; any projections of earnings, revenue or other financial items relating to the Company, any statement of the plans, strategies and objectives of management for future operations; any statements concerning proposed future growth rates in the markets we serve; any statements of belief; any characterization of and the Company’s ability to control contingent liabilities; anticipated trends in the Company’s businesses; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words “may,” “would,” “estimate,” “intend,” “continue,” “believe,” “expect,” “anticipate,” and other similar words. Although the Company believes that the expectations reflected in any forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties beyond the control of the Company. These risks and uncertainties include, but are not limited to, risks and uncertainties relating to general economic conditions, geopolitical factors, future levels of aerospace/defense and industrial market activity, future financial performance, our debt level, the integration of the Dodge acquisition, market acceptance of new or enhanced versions of the Company’s products, the pricing of raw materials, changes in the competitive environments in which the Company’s businesses operate, the outcome of pending or future litigation and governmental proceedings and approvals, estimated legal costs, increases in interest rates, tax legislation and changes, our ability to meet our debt obligations, the Company’s ability to acquire and integrate complementary businesses, and risks and uncertainties listed or disclosed in our reports filed with the Securities and Exchange Commission, including, without limitation, the risks identified under the heading “Risk Factors” set forth in the Company’s most recent Annual Report on Form 10-K filed with the SEC. The Company does not intend, and undertakes no obligation, to update or alter any forward-looking statements.
| RBC Bearings Incorporated | |||||||||||||||
| Consolidated Statements of Operations | |||||||||||||||
| (dollars in thousands, except share and per share data) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
December 30, |
December 31, |
December 30, |
December 31, |
||||||||||||
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
||||
| Net sales | $ |
373,906 |
|
$ |
351,625 |
|
$ |
1,146,600 |
|
$ |
1,074,872 |
|
|||
| Cost of sales |
|
215,861 |
|
|
205,585 |
|
|
654,379 |
|
|
636,533 |
|
|||
| Gross margin |
|
158,045 |
|
|
146,040 |
|
|
492,221 |
|
|
438,339 |
|
|||
| Operating expenses: | |||||||||||||||
| Selling, general and administrative |
|
63,895 |
|
|
56,782 |
|
|
189,128 |
|
|
170,129 |
|
|||
| Other, net |
|
18,859 |
|
|
18,866 |
|
|
55,055 |
|
|
61,331 |
|
|||
| Total operating expenses |
|
82,754 |
|
|
75,648 |
|
|
244,183 |
|
|
231,460 |
|
|||
| Operating income |
|
75,291 |
|
|
70,392 |
|
|
248,038 |
|
|
206,879 |
|
|||
| Interest expense, net |
|
19,303 |
|
|
20,901 |
|
|
59,911 |
|
|
55,032 |
|
|||
| Other non-operating expense |
|
(879 |
) |
|
1,539 |
|
|
423 |
|
|
2,490 |
|
|||
| Income before income taxes |
|
56,867 |
|
|
47,952 |
|
|
187,704 |
|
|
149,357 |
|
|||
| Provision for income taxes |
|
10,313 |
|
|
11,688 |
|
|
39,470 |
|
|
31,853 |
|
|||
| Net income |
|
46,554 |
|
|
36,264 |
|
|
148,234 |
|
|
117,504 |
|
|||
| Preferred stock dividends |
|
5,814 |
|
|
5,686 |
|
|
17,250 |
|
|
17,186 |
|
|||
| Net income attributable to common stockholders | $ |
40,740 |
|
$ |
30,578 |
|
$ |
130,984 |
|
$ |
100,318 |
|
|||
| Net income per common share attributable to common stockholders: | |||||||||||||||
| Basic | $ |
1.41 |
|
$ |
1.06 |
|
$ |
4.53 |
|
$ |
3.49 |
|
|||
| Diluted | $ |
1.39 |
|
$ |
1.05 |
|
$ |
4.49 |
|
$ |
3.45 |
|
|||
| Weighted average common shares: | |||||||||||||||
| Basic |
|
28,924,073 |
|
|
28,805,305 |
|
|
28,885,453 |
|
|
28,744,732 |
|
|||
| Diluted |
|
29,204,570 |
|
|
29,120,318 |
|
|
29,153,469 |
|
|
29,053,608 |
|
|||
| Three Months Ended | Nine Months Ended | ||||||||||||||
Reconciliation of Reported Gross Margin to |
December 30, |
December 31, |
December 30, |
December 31, |
|||||||||||
Adjusted Gross Margin: |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
|||
| Reported gross margin | $ |
158,045 |
|
$ |
146,040 |
|
$ |
492,221 |
|
$ |
438,339 |
|
|||
| Restructuring and consolidation |
|
- |
|
|
- |
|
|
289 |
|
|
- |
|
|||
| Adjusted gross margin | $ |
158,045 |
|
$ |
146,040 |
|
$ |
492,510 |
|
$ |
438,339 |
|
|||
| Three Months Ended | Nine Months Ended | ||||||||||||||
Reconciliation of Reported Operating Income to |
December 30, |
December 31, |
December 30, |
December 31, |
|||||||||||
Adjusted Operating Income: |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
|||
| Reported operating income | $ |
75,291 |
|
$ |
70,392 |
|
$ |
248,038 |
|
$ |
206,879 |
|
|||
| Transaction and related costs |
|
113 |
|
|
6 |
|
|
138 |
|
|
73 |
|
|||
| Transition services |
|
- |
|
|
1,241 |
|
|
- |
|
|
8,945 |
|
|||
| Restructuring and consolidation |
|
65 |
|
|
- |
|
|
986 |
|
|
17 |
|
|||
| Adjusted operating income | $ |
75,469 |
|
$ |
71,639 |
|
$ |
249,162 |
|
$ |
215,914 |
|
|||
| Three Months Ended | Nine Months Ended | ||||||||||||||
Reconciliation of Reported Net Income to Adjusted Net |
December 30, |
December 31, |
December 30, |
December 31, |
|||||||||||
Income Attributable to Common Stockholders: |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
|||
| Reported net income | $ |
46,554 |
|
$ |
36,264 |
|
$ |
148,234 |
|
$ |
117,504 |
|
|||
| Transaction and related costs |
|
113 |
|
|
6 |
|
|
138 |
|
|
73 |
|
|||
| Transition services |
|
- |
|
|
1,241 |
|
|
- |
|
|
8,945 |
|
|||
| Restructuring and consolidation |
|
65 |
|
|
- |
|
|
986 |
|
|
17 |
|
|||
| Foreign exchange translation loss/(gain) |
|
- |
|
|
- |
|
|
- |
|
|
(417 |
) |
|||
| M&A related amortization |
|
16,463 |
|
|
16,276 |
|
|
49,068 |
|
|
48,832 |
|
|||
| Stock compensation expense |
|
4,177 |
|
|
2,874 |
|
|
13,314 |
|
|
11,047 |
|
|||
| Amortization of deferred finance fees |
|
649 |
|
|
1,826 |
|
|
2,296 |
|
|
6,164 |
|
|||
| Pension settlement |
|
(455 |
) |
|
- |
|
|
(455 |
) |
|
- |
|
|||
| Insurance proceeds received |
|
(1,632 |
) |
|
- |
|
|
(1,632 |
) |
|
- |
|
|||
| Tax impact of adjustments and other tax matters |
|
(5,962 |
) |
|
(5,141 |
) |
|
(15,394 |
) |
|
(19,362 |
) |
|||
| Adjusted net income | $ |
59,972 |
|
$ |
53,346 |
|
$ |
196,555 |
|
$ |
172,803 |
|
|||
| Preferred stock dividends |
|
5,814 |
|
|
5,686 |
|
|
17,250 |
|
|
17,186 |
|
|||
| Adjusted net income attributable to common stockholders | $ |
54,158 |
|
$ |
47,660 |
|
$ |
179,305 |
|
$ |
155,617 |
|
|||
| Adjusted net income per common share attributable to common stockholders: | |||||||||||||||
| Basic | $ |
1.87 |
|
$ |
1.65 |
|
$ |
6.21 |
|
$ |
5.41 |
|
|||
| Diluted | $ |
1.85 |
|
$ |
1.64 |
|
$ |
6.15 |
|
$ |
5.36 |
|
|||
| Weighted average common shares: | |||||||||||||||
| Basic |
|
28,924,073 |
|
|
28,805,305 |
|
|
28,885,453 |
|
|
28,744,732 |
|
|||
| Diluted |
|
29,204,570 |
|
|
29,120,318 |
|
|
29,153,469 |
|
|
29,053,608 |
|
|||
| Three Months Ended | Nine Months Ended | ||||||||||||||
Reconciliation of Reported Net Income to |
December 30, |
December 31, |
December 30, |
December 31, |
|||||||||||
Adjusted EBITDA: |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
|||
| Reported net income | $ |
46,554 |
|
$ |
36,264 |
|
$ |
148,234 |
|
$ |
117,504 |
|
|||
| Interest expense, net |
|
19,303 |
|
|
20,901 |
|
|
59,911 |
|
|
55,032 |
|
|||
| Provision for income taxes |
|
10,313 |
|
|
11,688 |
|
|
39,470 |
|
|
31,853 |
|
|||
| Stock compensation expense |
|
4,177 |
|
|
2,874 |
|
|
13,314 |
|
|
11,047 |
|
|||
| Depreciation and amortization |
|
29,890 |
|
|
28,743 |
|
|
89,566 |
|
|
85,811 |
|
|||
| Other non-operating expense |
|
1,208 |
|
|
1,539 |
|
|
2,510 |
|
|
2,490 |
|
|||
| Transaction and related costs |
|
113 |
|
|
6 |
|
|
138 |
|
|
73 |
|
|||
| Transition services |
|
- |
|
|
1,241 |
|
|
- |
|
|
8,945 |
|
|||
| Restructuring and consolidation |
|
65 |
|
|
- |
|
|
986 |
|
|
17 |
|
|||
| Pension settlement |
|
(455 |
) |
|
- |
|
|
(455 |
) |
|
- |
|
|||
| Insurance proceeds received |
|
(1,632 |
) |
|
- |
|
|
(1,632 |
) |
|
- |
|
|||
| Adjusted EBITDA | $ |
109,536 |
|
$ |
103,256 |
|
$ |
352,042 |
|
$ |
312,772 |
|
|||
| Three Months Ended | Nine Months Ended | ||||||||||||||
December 30, |
December 31, |
December 30, |
December 31, |
||||||||||||
| Selected Financial Data: |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
|||
| Cash provided by operating activities | $ |
80,503 |
|
$ |
60,878 |
|
$ |
195,323 |
|
$ |
149,258 |
|
|||
| Capital expenditures | $ |
9,531 |
|
$ |
6,501 |
|
$ |
23,716 |
|
$ |
29,577 |
|
|||
| Total debt | $ |
1,264,357 |
|
$ |
1,464,078 |
|
|||||||||
| Cash and cash equivalents | $ |
71,611 |
|
$ |
82,036 |
|
|||||||||
| Total debt minus cash and cash equivalents | $ |
1,192,746 |
|
$ |
1,382,042 |
|
|||||||||
| Repurchase of common stock | $ |
7,599 |
|
$ |
6,559 |
|
|||||||||
| Backlog | $ |
652,138 |
|
$ |
613,582 |
|
|||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
December 30, |
December 31, |
December 30, |
December 31, |
||||||||||||
| Segment Data, Net External Sales: |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
|||
| Aerospace and defense segment | $ |
129,293 |
|
$ |
105,532 |
|
$ |
377,036 |
|
$ |
308,479 |
|
|||
| Industrial segment |
|
244,613 |
|
|
246,093 |
|
|
769,564 |
|
|
766,393 |
|
|||
| Total net external sales | $ |
373,906 |
|
$ |
351,625 |
|
$ |
1,146,600 |
|
$ |
1,074,872 |
|
|||
View source version on businesswire.com: https://www.businesswire.com/news/home/20240208360557/en/
RBC Bearings
Robert Sullivan
203-267-5014
Rsullivan@rbcbearings.com
Alpha IR Group
Michael Cummings
617-461-1101
investors@rbcbearings.com
Source: RBC Bearings Incorporated
FAQ
What is the net sales growth rate for RBC Bearings Incorporated in the third quarter of fiscal 2024?
How did the Aerospace/Defense segment perform in the third quarter of fiscal 2024 for RBC Bearings Incorporated?
What was the change in gross margin for RBC Bearings Incorporated in the third quarter of fiscal 2024?
What was the percentage change in net income for RBC Bearings Incorporated in the third quarter of fiscal 2024?
What was the Adjusted EBITDA as a percentage of net sales for RBC Bearings Incorporated in the third quarter of fiscal 2024?
