RBC Stock Recent News

's Revenue Details In the quarter under review, RBC Bearings' revenues were $413.7 million, which increased 4.9% year over year. However, the figure missed the Zacks Consensus Estimate of $416 million. While exiting the reported quarter, RBC had a backlog of $726.1 million, up 9.4% year over year. For fiscal 2024, the company's revenues came in at $1.56 billion, up 6.2% year over year. It reported adjusted earnings of $8.62, reflecting an increase of 15.2% on a year-over-year basis. Segmental Details The company currently has two reportable segments, namely Aerospace/Defense and Industrial. Its segmental performance for the fiscal fourth quarter is briefly discussed below: Industrial revenues of $271.4 million (representing 65.6% of the quarter's revenues) were down 0.4% year over year. Aerospace/Defense revenues totaled $142.3 million (34.4%), up 16.8% year over year. Margin Profile In the reported quarter, the company's cost of sales rose 3.2% year over year to $235.4 million. Gross

RBC Bearings (RBC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Here is how RBC Bearings (ROLL) and Silgan Holdings (SLGN) have performed compared to their sector so far this year.

RBC Bearings (ROLL) is benefiting from strength in its Aerospace/Defense and Industrial segments, acquired assets and shareholder-friendly measures.

RBC Bearings (ROLL) is well positioned to outperform the market, as it exhibits above-average growth in financials.

BFC, ROLL and LNG made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on August 23, 2022.

LNG, ROLL, CVCY, BJ, and TSM have been added to the Zacks Rank #1 (Strong Buy) List on August 23, 2022.

RBC Bearings (ROLL) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

RBC Bearings (ROLL) Q1 earnings results reflect gains from solid segmental results.

RBC Bearings Incorporated (NASDAQ:ROLL ) Q1 2023 Earnings Conference Call August 4, 2022 12:00 PM ET Company Participants Josh Carroll - Investor Relations Michael Hartnett - Chairman, President and Chief Executive Officer Daniel Bergeron - Director, Vice President and Chief Operating Officer Robert Sullivan - Vice President and Chief Financial Officer Conference Call Participants Kristine Liwag - Morgan Stanley Steve Barger - KeyBanc Capital Markets Seth Weber - Wells Fargo Securities Sam Struhsaker - Truist Securities Joe Ritchie - Goldman Sachs Ron Epstein - Bank of America Pete Skibitski - Alembic Global Operator Hello and welcome to the RBC Bearings Q1 Fiscal Year 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.