RBC Bearings (NYSE:RBC) Announces Earnings Results

Nov 02, 2024

RBC Bearings (NYSE:RBC - Get Free Report) announced its quarterly earnings results on Friday. The industrial products company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $2.10 by $0.19, Briefing.com reports. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the prior year, the business earned $2.07 EPS. RBC Bearings's quarterly revenue was up 3.2% on a year-over-year basis. RBC Bearings updated its Q3 2025 guidance to EPS.

RBC Bearings stock traded up $4.95 during trading hours on Friday, hitting $285.30. 215,265 shares of the stock traded hands, compared to its average volume of 142,871. The firm's 50-day moving average price is $289.89 and its two-hundred day moving average price is $281.12. The company has a current ratio of 3.01, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The company has a market cap of $8.34 billion, a PE ratio of 42.08, a PEG ratio of 3.28 and a beta of 1.51. RBC Bearings has a one year low of $214.64 and a one year high of $309.01.

Separately, Truist Financial cut their target price on RBC Bearings from $328.00 to $315.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $287.67.

Read Our Latest Report on RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 3,000 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the sale, the chief executive officer now owns 294,120 shares in the company, valued at approximately $83,597,727.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael J. Hartnett sold 3,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the sale, the chief executive officer now directly owns 294,120 shares of the company's stock, valued at approximately $83,597,727.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Hartnett sold 11,341 shares of RBC Bearings stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $287.52, for a total value of $3,260,764.32. Following the completion of the transaction, the chief executive officer now directly owns 320,053 shares of the company's stock, valued at approximately $92,021,638.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,327 shares of company stock valued at $11,900,641. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

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