RBC Bearings Incorporated has recently released its 10-Q report, revealing its operations in precision bearings, components, and systems for industrial, aerospace, and defense applications. The company operates through two segments: Aerospace/Defense and Industrial, and prides itself on manufacturing products in all major bearings categories. With 53 facilities in 11 countries, it has significantly broadened its end markets, products, customer base, and geographic reach since its founding in 1919.
In the 10-Q report, RBC Bearings discusses its financial condition and results of operations, including a cautionary statement as to forward-looking information. The company highlights its strategy of developing innovative solutions, expanding its customer base, increasing aftermarket sales, and pursuing selective acquisitions.
The report also provides an outlook on the company's performance, stating that net sales for the three-month period ended December 28, 2024, increased by 5.5% compared to the same period last fiscal year. The Aerospace/Defense segment experienced a 10.7% increase, while the Industrial segment saw a 2.7% increase. The company's backlog as of December 28, 2024, was $896.5 million, compared to $821.5 million as of March 30, 2024.
Looking at the results of operations, for the three-month period ended December 28, 2024, net income attributable to common stockholders was $56.9 million, a 39.6% increase from the same period last fiscal year. Additionally, for the nine-month period ended December 28, 2024, net sales increased by 4.5% compared to the same period last fiscal year, reaching $1,198.6 million. Net income attributable to common stockholders for the nine-month period was $161.1 million, a 23.0% increase from the same period last fiscal year.
The market has reacted to these announcements by moving the company's shares 8.3% to a price of $348.75. Check out the company's full 10-Q submission here.
