TNC - RBC Bearings Q4 Earnings Surpass Estimates Up Y/Y | Benzinga
RBC Bearings Incorporated's (NYSE: RBC) fourth-quarter fiscal 2024 (ended March 2024) adjusted earnings of $2.47 per share beat the Zacks Consensus Estimate of $2.32. The figure increased 16% from the year-ago adjusted earnings of $2.13, supported by higher revenues.
Revenue Details
In the quarter under review, RBC Bearings' revenues were $413.7 million, which increased 4.9% year over year. However, the figure missed the Zacks Consensus Estimate of $416 million.
While exiting the reported quarter, RBC had a backlog of $726.1 million, up 9.4% year over year.
For fiscal 2024, the company's revenues came in at $1.56 billion, up 6.2% year over year. It reported adjusted earnings of $8.62, reflecting an increase of 15.2% on a year-over-year basis.
Segmental Details
The company currently has two reportable segments, namely Aerospace/Defense and Industrial. Its segmental performance for the fiscal fourth quarter is briefly discussed below:
Industrial revenues of $271.4 million (representing 65.6% of the quarter's revenues) were down 0.4% year over year.
Aerospace/Defense revenues totaled $142.3 million (34.4%), up 16.8% year over year.