ROLL - RBC Bearings down 3% post Q3 results guides Q4 revenue in-line

RBC Bearings ([[ROLL]] -3.2%) reported FQ3 net sales decline of 17.6% Y/Y to $145.9M, aerospace markets decreased 29.7% while industrial market net sales increased 5.5%.Adj. gross margin declined by 140 bps to 38.7%; and adj. operating margin declined by 223 bps to 19.1%.Backlog as of December 26, 2020 was $393.9M compared to $477.7M compared to last year.Cash as of December 26, 2020 was $126.2M; and marketable securities of ~$75.5M and $260.9M of undrawn revolving credit on its two bank facilities.4Q21 Outlook: Net sales to be ~$155M to $160M vs. $156.10M consensus.Previously: RBC Bearings EPS beats by $0.05, beats on revenue (Jan. 29)

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RBC Bearings down 3% post Q3 results, guides Q4 revenue in-line