Loading...
•
Apr 03, 2021
RBC Bearings Q4 2021 Earnings Report
RBC Bearings reported a decrease in net sales and net income for the fourth quarter of fiscal year 2021, while facing challenges from the global pandemic.
Key Takeaways
RBC Bearings reported a decrease in net sales to $160.3 million, a decrease of 13.7% compared to the fourth quarter of fiscal 2020. Net income was $25.0 million, compared to $33.8 million for the same period last year. The company highlighted sequential sales improvements and strong expense control, leading to high cash flow in the fourth quarter.
Net sales decreased by 13.7% to $160.3 million compared to the same quarter last year.
Aerospace market net sales decreased by 28.6%, while industrial market net sales increased by 12.9%.
Net income decreased to $25.0 million from $33.8 million in the prior year.
Backlog as of April 3, 2021, was $394.8 million, compared to $478.6 million as of March 28, 2020.
Forward Guidance
The Company expects net sales to be approximately $154.0 million to $158.0 million in the first quarter of fiscal 2022, compared to $156.5 million for the first quarter of fiscal 2021.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...