RBC Bearings Q2 2024 Earnings Report
Key Takeaways
RBC Bearings reported a 4.4% increase in net sales for the second quarter of fiscal 2024, reaching $385.6 million. The Aerospace/Defense segment saw a 22.9% increase in net sales, while the Industrial segment decreased by 2.8%. Net income for the quarter was $51.7 million, compared to $43.8 million in the same period last year.
Net sales increased by 4.4% to $385.6 million compared to the second quarter of fiscal 2023.
Aerospace/Defense segment net sales increased by 22.9%, while the Industrial segment decreased by 2.8%.
Net income for the second quarter of fiscal 2024 was $51.7 million, compared to $43.8 million for the same period last year.
Diluted EPS attributable to common stockholders was $1.58, compared to $1.31 for the same period last year.
RBC Bearings
RBC Bearings
Forward Guidance
The Company expects net sales to be approximately $370.0 million to $380.0 million in the third quarter of fiscal 2024, compared to $351.6 million last year, a growth rate of 5.2% to 8.1%. We are on track to reach full year fiscal 2024 net sales of approximately $1.55 to $1.60 billion.