Posted February 8, 2024

RBC Bearings posts 6% net sales increase 

Third quarter net sales of $373.9 million increased 6.3% over last year for RBC Bearings Inc.'s third quarter of fiscal 2024. Aerospace/Defense was up 22.5% and Industrial dropped 0.6%.

Gross margin of 42.3% in the third quarter of fiscal 2024 compared to 41.5% for the same quarter last year.

Third quarter net income as a percentage of net sales of 12.5% vs 10.3% last year; Adjusted EBITDA as a percentage of net sales of 29.3% vs 29.4% last year.

“As expected, third quarter results showed a 6.3% increase in net sales during the quarter compared to the previous year,” said Chairman and Chief Executive Officer Michael J. Hartnett. “Our aerospace and defense segment has continued to produce strong results as we continue to see an acceleration in volume, especially from major aircraft manufacturers and their supply chains.”

Third Quarter Results

Net sales for the third quarter of fiscal 2024 were $373.9 million, an increase of 6.3% from $351.6 million in the third quarter of fiscal 2023. Net sales for our Industrial segment decreased 0.6%, while net sales for our Aerospace/Defense segment increased 22.5%. Gross margin for the third quarter of fiscal 2024 was $158.0 million compared to $146.0 million for the same period last year.