RBC Bearings Incorporated Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 09, 2023 at 09:30 am EST
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RBC Bearings Incorporated reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was USD 385.57 million compared to USD 369.17 million a year ago. Net income was USD 51.65 million compared to USD 43.8 million a year ago. Basic earnings per share from continuing operations was USD 1.59 compared to USD 1.32 a year ago. Diluted earnings per share from continuing operations was USD 1.58 compared to USD 1.31 a year ago.
For the six months, sales was USD 772.69 million compared to USD 723.25 million a year ago. Net income was USD 101.68 million compared to USD 81.24 million a year ago. Basic earnings per share from continuing operations was USD 3.13 compared to USD 2.43 a year ago. Diluted earnings per share from continuing operations was USD 3.1 compared to USD 2.4 a year ago.
RBC Bearings Incorporated is a manufacturer and marketer of engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries. The Company operates through two segments: Aerospace/Defense, and Industrial. The Company's products include plain bearings, roller bearings, ball bearings, mounted bearings, enclosed gearing, motion control components and engineered components. Its plain bearings are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or heavy mining and construction equipment. Its roller bearings are anti-friction products that utilize cylindrical rolling elements. Its roller bearings include tapered roller bearings, needle roller bearings and needle bearing track rollers and cam followers. Its engineered components consist primarily of engineered hydraulics and valves, fasteners, precision mechanical components and machine tool collets.
RBC BEARINGS INCORPORATED 
