RBC Bearings Q3 2022 Earnings Report
Key Takeaways
RBC Bearings reported net sales of $267.0 million for the third quarter of fiscal 2022, an 83.0% increase compared to the same period last year. The company experienced strong organic revenue growth from industrial markets and the recent addition of Dodge. However, net loss for the quarter was ($0.1) million, compared to net income of $21.6 million for the same period last year.
Net sales increased by 83.0% to $267.0 million compared to the third quarter of fiscal 2021.
Industrial segment net sales increased by 230.4%, while Aerospace/Defense segment net sales were flat.
Operating income was $14.4 million, but adjusted operating income was $44.8 million excluding acquisition costs.
Net loss was ($0.1) million, while adjusted net income was $26.1 million.
RBC Bearings
RBC Bearings
Forward Guidance
The Company expects net sales to be approximately $340.0 million to $350.0 million in the fourth quarter of fiscal 2022 including three months of Dodge, compared to $160.3 million last year, a growth rate of 112.1% to 118.3%.