Rbc Bearings Inc Stock Price, News & Analysis

RBC Bearings Incorporated (NYSE: RBC, RBCP) reported a strong third quarter for fiscal 2023, with net sales of $351.6 million, up 31.7% from the previous year. The Industrial segment saw net sales increase by 41.6% while Aerospace/Defense grew 13.2%. Net income reached $36.3 million, a significant rise from $0.5 million last year, resulting in a diluted EPS of $1.05. The company also reduced term loan principal by $60 million this quarter. Looking ahead, RBC expects fourth-quarter net sales of $375-$385 million, reflecting growth of 4.5%-7.3% year-over-year.

RBC Bearings Incorporated (NYSE: RBC, RBCP) has announced it will release its third quarter fiscal 2023 financial results on February 9, 2023, after market close. A conference call will follow on February 10, 2023, at 11:00 a.m. ET, featuring CEO Dr. Michael J. Hartnett and other executives. Investors can access the call via the company's website or by phone with provided IDs. RBC Bearings specializes in high-precision bearings and components for industrial, defense, and aerospace sectors, established in 1919 and based in Oxford, Connecticut.

RBC Bearings (NYSE: RBC, RBCP) reported strong financial results for the second quarter of fiscal 2023, with net sales reaching $369.2 million, up 129.4% year-over-year. Organic net sales rose 9.9%, driven by a 290.7% increase in the Industrial segment due in part to the Dodge acquisition. EBITDA improved to 28.4% from 26.1% last year, and diluted EPS was $1.31, compared to a loss of $0.07 a year earlier. The company expects third-quarter net sales between $348.0 million and $360.0 million, indicating growth of 30.4% to 34.9%.

RBC Bearings Incorporated (NYSE: RBC, RBCP) will release its Q2 fiscal 2023 financial results on November 10, 2022, before market opening. A conference call will follow at 11:00 a.m. ET to discuss these results. Key executives, including Dr. Michael J. Hartnett and Robert M. Sullivan, will provide insights into the quarter's accomplishments. For those unable to access the webcast, a replay will be available from 2:00 p.m. ET on the same day until November 24, 2022.

Regal Rexnord Corporation announced the completion of its merger with Rexnord Corporation's Process & Motion Control Business, enhancing its industrial power transmission capabilities. The merger, effective October 5, 2021, positions Regal to realize significant synergies, projected at $120 million over three years, and aims for adjusted EBITDA exceeding $1 billion for 2022. Regal will now focus on energy-efficient products, benefiting from a broader market reach and enhanced digital capabilities. Shareholders will receive a special cash dividend of $6.99 per share, amounting to approximately $284 million.

On September 27, 2021, Regal Beloit (NYSE: RBC) and Rexnord (NYSE: RXN) announced details regarding the impending merger involving Rexnord's Process & Motion Control (PMC) Business. Rexnord will spin off its PMC Business as a pro rata dividend to shareholders, after which Regal will acquire it in a stock-for-stock merger. Shareholders are set to receive a special cash dividend of $6.99 per share, amounting to approximately $284 million. Record and payment dates for the dividends are October 1 and October 5, 2021, respectively.