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Jul 03, 2021
RBC Bearings Q1 2022 Earnings Report
RBC Bearings reported first quarter results in line with expectations, driven by strong order rates from industrial customers and anticipated increased demand for aircraft bearings.
Key Takeaways
RBC Bearings reported net sales of $156.2 million, a slight decrease of 0.2% compared to the same quarter last year. The company's net income increased to $26.0 million, with diluted EPS of $1.03.
Net sales were $156.2 million, a decrease of 0.2% year-over-year.
Industrial markets net sales increased by 31.0%, while aerospace net sales decreased by 18.3%.
Net income was $26.0 million, compared to $22.7 million in the same period last year.
Diluted EPS was $1.03 per share, compared to $0.91 per share for the same period last year.
RBC Bearings
RBC Bearings
Forward Guidance
The Company expects net sales to be approximately $158.0 million to $162.0 million in the second quarter of fiscal 2022, compared to $146.3 million last year, an increase of 8.0% to 10.7%.