RBC Bearings (NYSE:RBC) Announces Quarterly Earnings Results

Nov 02, 2024

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

Shares of RBC stock traded up $3.87 during trading hours on Friday, hitting $284.22. 108,507 shares of the company's stock traded hands, compared to its average volume of 142,367. The company has a quick ratio of 1.09, a current ratio of 3.01 and a debt-to-equity ratio of 0.40. RBC Bearings has a 12 month low of $214.64 and a 12 month high of $309.01. The stock has a market cap of $8.31 billion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 3.28 and a beta of 1.51. The stock's 50 day simple moving average is $290.28 and its 200 day simple moving average is $280.89.

Separately, Truist Financial dropped their price target on RBC Bearings from $328.00 to $315.00 and set a "buy" rating for the company in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, RBC Bearings has an average rating of "Moderate Buy" and a consensus target price of $287.67.

Check Out Our Latest Report on RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 19,283 shares of RBC Bearings stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the transaction, the chief executive officer now directly owns 317,814 shares of the company's stock, valued at approximately $91,981,727.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael J. Hartnett sold 19,283 shares of RBC Bearings stock in a transaction on Friday, September 13th. The shares were sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the completion of the transaction, the chief executive officer now owns 317,814 shares of the company's stock, valued at $91,981,727.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the transaction, the vice president now directly owns 12,539 shares of the company's stock, valued at approximately $3,669,789.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,327 shares of company stock worth $11,900,641 over the last three months. Company insiders own 2.60% of the company's stock.

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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