RBC - Why Is RBC Bearings Stock Trading Higher Today? | Benzinga
RBC Bearings Incorporated (NYSE:RBC) shares are trading higher after it reported fourth-quarter FY24 results.
Net sales rose 4.9% Y/Y to $413.7 million, beating the consensus of $413.5 million.
By segment, Aerospace/Defense revenue grew 16.8% Y/Y, while Industrial revenue declined 0.4% Y/Y in the quarter.
Adjusted gross margin expanded to 43.1% from 42.2% in the same quarter a year ago, and adjusted EBITDA margin rose to 31.4% from 30.7% last year.
As of March 30, 2024, the backlog stood at $726.1 million. Adjusted EPS increased 16.0% Y/Y to $2.47