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Sep 30, 2023
RBC Bearings Q2 2024 Earnings Report
RBC Bearings' second quarter results were in line with expectations, with the aerospace and defense segment experiencing strong growth and the company remaining confident in delivering record performance for fiscal year 2024.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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