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Jul 02, 2022
RBC Bearings Q1 2023 Earnings Report
Reported strong revenues across most end markets with excellent execution and margin performance.
Key Takeaways
RBC Bearings reported strong first-quarter results for fiscal year 2023, with net sales increasing by 126.7% to $354.1 million. The company's performance was driven by strong demand in both the industrial and aerospace sectors, coupled with excellent execution at the plant level and exceptional margin performance.
Net sales increased by 126.7% year-over-year to $354.1 million.
Industrial segment sales increased by 286.8%, including $177.5 million from Dodge.
Aerospace/Defense segment sales increased by 10.0%.
Diluted EPS was $1.09, compared to $0.95 for the same period last year.
Forward Guidance
The Company expects net sales to be approximately $355 million to $365 million in the second quarter of fiscal 2023, compared to $160.9 million last year, a growth rate of 121% to 127%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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