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RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP) will transfer its common stock and 5.00% Series A Mandatory Convertible Preferred Stock listing from Nasdaq to the New York Stock Exchange (NYSE). Trading on the NYSE is set to begin on September 26, 2022, under the tickers 'RBC' and 'RBCP'. CEO Dr. Michael Hartnett expressed excitement over joining the NYSE, highlighting the company’s growth since its Nasdaq listing nearly 20 years ago. RBC Bearings specializes in precision bearings for the industrial, defense, and aerospace sectors.
RBC Bearings (NASDAQ: ROLL, ROLLP), an international manufacturer of precision bearings and components, announced participation in the Morgan Stanley Laguna Conference on September 15, 2022. Representing the company will be Chairman and CEO Dr. Michael J. Hartnett along with Vice President Barry Boyan. The conference materials will be accessible online at investor.rbcbearings.com. Founded in 1919, RBC Bearings focuses on regulated bearing products for industrial, aerospace, and defense sectors.
RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP) reported robust financial results for Q1 Fiscal 2023, with net sales soaring 126.7% to $354.1 million. Organic growth reached 13.1%, driven largely by a 286.8% increase in the Industrial segment. Gross margin held steady at 39.9%, while adjusted EBITDA margin declined slightly to 28.4% from 29.0%. Diluted EPS rose to $1.09, with new adjusted EPS reaching $1.79. The company forecasts Q2 sales between $355-$365 million, reflecting a growth rate of 121-127%. Backlog increased to $635.7 million, signaling strong future demand.
RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP) will announce its first quarter fiscal 2023 financial results on August 4, 2022, before market open. The results will be discussed during a conference call at 12:00 p.m. ET on the same date. The call will feature key executives, including Dr. Michael J. Hartnett, CEO, and Robert M. Sullivan, CFO. Investors can access the webcast via the company's investor relations website or participate by phone. An audio replay will be available until August 18, 2022.
RBC Bearings Incorporated (NASDAQ: ROLL, ROLLP) has been recognized as one of Boeing's top suppliers during the 2022 Supplier of the Year event in Los Angeles. This award highlights RBC's commitment to operational excellence and quality in manufacturing precision bearings and components for various sectors including aerospace and defense. The recognition comes as part of Boeing's initiative to acknowledge suppliers who excelled in supply chain quality and sustainability. RBC Bearings continues to strengthen its partnership with Boeing, aiming to meet evolving customer needs.
RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP), a key player in precision bearings manufacturing, will participate in the William Blair 42nd Annual Growth Stock Conference on June 7, 2022, in Chicago, Illinois. The company's leaders, Dr. Michael J. Hartnett and Daniel A. Bergeron, will present in person. Materials from the conference will be accessible online at investor.rbcbearings.com. Founded in 1919, RBC Bearings focuses on engineered bearing products for industrial, aerospace, and defense sectors.
RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP) reported robust fourth quarter results for FY 2022, with net sales reaching $358.9 million, a 123.9% increase year-over-year. Organic sales rose by 10.4%. The fourth quarter gross margin was $137.5 million, representing 38.3%, while adjusted gross margin improved to $144.3 million or 40.2%. Net income available to common stockholders was $26.5 million, with diluted EPS at $0.92. Looking ahead, first quarter FY 2023 is projected between $355 million to $365 million, marking growth of 127.3% to 133.7%.
RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP) reported impressive fiscal 2022 fourth quarter results with net sales of $358.9 million, a 123.9% increase year-over-year. Organic sales rose 10.4%, while adjusted gross margin reached 40.2%. Fourth quarter diluted EPS was $0.92, and adjusted diluted EPS was $1.26. Notably, the EBITDA margin improved to 29.1%. The company forecasts first quarter 2023 net sales between $355.0 million and $365.0 million, indicating a growth rate of 127.3% to 133.7%. Backlog as of April 2, 2022, stood at $603.1 million.
RBC Bearings Incorporated (NASDAQ: ROLL, ROLLP) has announced the election of Dr. Amir Faghri to its Board of Directors. Dr. Faghri will serve as a Class II director until the annual stockholder meeting in 2024 and will also join the Compensation Committee. With extensive experience as a former dean at the University of Connecticut, Dr. Faghri brings valuable engineering and executive knowledge to the Board. He holds numerous patents and has collaborated with major research institutions, enhancing RBC Bearings' strategic initiatives.
RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP) will participate in the KeyBanc Capital Markets Industrials & Basic Materials Conference on June 2, 2022, in Boston, Massachusetts. The company, known for its engineered precision bearings and components for industrial, defense, and aerospace sectors, will be represented by Vice President and COO Daniel A. Bergeron and Vice President and CFO Robert M. Sullivan. Conference materials will be accessible online at investor.rbcbearings.com.
