Best Momentum Stocks to Buy for August 23rd
- BFC, ROLL and LNG made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on August 23, 2022.
- 08/23/2022
|
New Strong Buy Stocks for August 23rd
- LNG, ROLL, CVCY, BJ, and TSM have been added to the Zacks Rank #1 (Strong Buy) List on August 23, 2022.
- 08/23/2022
|
Can RBC Bearings (ROLL) Run Higher on Rising Earnings Estimates?
- RBC Bearings (ROLL) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
- 08/17/2022
|
RBC Bearings (ROLL) Q1 Earnings and Revenues Top Estimates
- RBC Bearings (ROLL) Q1 earnings results reflect gains from solid segmental results.
- 08/08/2022
|
RBC Bearings Incorporated (ROLL) CEO Michael Hartnett on Q1 2023 Results - Earnings Call Transcript
- RBC Bearings Incorporated (NASDAQ:ROLL ) Q1 2023 Earnings Conference Call August 4, 2022 12:00 PM ET Company Participants Josh Carroll - Investor Relations Michael Hartnett - Chairman, President and Chief Executive Officer Daniel Bergeron - Director, Vice President and Chief Operating Officer Robert Sullivan - Vice President and Chief Financial Officer Conference Call Participants Kristine Liwag - Morgan Stanley Steve Barger - KeyBanc Capital Markets Seth Weber - Wells Fargo Securities Sam Struhsaker - Truist Securities Joe Ritchie - Goldman Sachs Ron Epstein - Bank of America Pete Skibitski - Alembic Global Operator Hello and welcome to the RBC Bearings Q1 Fiscal Year 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
- 08/07/2022
|
RBC Bearings Incorporated Announces Fiscal 2023 First Quarter Results
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, today reported results for the first quarter of fiscal 2023. Key Highlights First quarter net sales of $354.1 million increased 126.7% over last year; organic net sales up 13.1%. First quarter gross margin of $141.2 million, 39.9%. First quarter EBITDA of 27.4%; adjusted EBITDA of 28.4% vs last year adjusted EBITDA of 29.0%. Second quarter outlook shows net sales of $355 million to $365 million, a growth rate of 121% to 127%. First quarter GAAP diluted EPS $1.09, adjusted diluted EPS $1.19, and new adjusted diluted EPS $1.79. First Quarter Financial Highlights ($ in millions) Fiscal 2023 Fiscal 2022 Change GAAP Adjusted (1) GAAP Adjusted (1) GAAP Adjusted (1) Net sales $ 354.1 $ 156.2 126.7 % Gross margin $ 141.2 $ 63.8 121.3 % Gross margin % 39.9 % 40.8 % Operating income $ 64.5 $ 68.3 $ 29.3 $ 29.9 119.9 % 128.5 % Operating income % 18.2 % 19.3 % 18.8 % 19.1 % Net income $ 37.4 $ 40.2 $ 24.0 $ 24.3 55.7 % 65.6 % Net income available to common stockholders $ 31.7 $ 34.5 $ 24.0 $ 24.3 31.8 % 41.9 % Diluted EPS $ 1.09 $ 1.19 $ 0.95 $ 0.96 14.7 % 24.0 % New Diluted EPS $ 1.79 $ 1.22 46.7 % (1) Results exclude items in reconciliation below. “We are pleased to report, revenues were strong across the majority of our end markets in both the industrial and aerospace sectors,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. “Matching this strength in demand was excellent execution at the plant level and exceptional margin performance. Our outlook for the balance of the fiscal year remains on this positive track.” First Quarter Results Net sales for the first quarter of fiscal 2023 were $354.1 million, an increase of 126.7% from $156.2 million in the first quarter of fiscal 2022. Net sales for our Industrial segment increased 286.8%, including sales of approximately $177.5 million from Dodge, while our Aerospace/Defense segment increased 10.0%. Gross margin for the first quarter of fiscal 2023 was $141.2 million compared to $63.8 million for the same period last year. SG&A for the first quarter of fiscal 2023 was $55.8 million, an increase of $24.6 million from $31.2 million for the same period last year. As a percentage of net sales, SG&A was 15.8% for the first quarter of fiscal 2023 compared to 20.0% for the same period last year. Other operating expenses for the first quarter of fiscal 2023 totaled $20.9 million compared to $3.2 million for the same period last year. For the first quarter of fiscal 2023, other operating expenses included $17.3 million of amortization of intangible assets and $3.8 million of costs associated with the Dodge acquisition, partially offset by $0.2 million of other income. For the first quarter of fiscal 2022, other operating expenses consisted primarily of $2.6 million of amortization of intangible assets and $0.6 million of restructuring costs and other items. Operating income for the first quarter of fiscal 2023 was $64.5 million compared to $29.3 million for the same period last year. Excluding approximately $3.8 million of acquisition related costs, adjusted operating income for the first quarter of fiscal 2023 was $68.3 million. Excluding restructuring costs and other items of $0.6 million, adjusted operating income for the first quarter of fiscal 2022 was $29.9 million. Adjusted operating income as a percentage of net sales was 19.3% for the first quarter of fiscal 2023 compared to 19.1% for the same period last year. Interest expense, net, was $15.8 million for the first quarter of fiscal 2023 compared to $0.3 million for the same period last year. The increase in interest cost during the period is a result of the quarterly impact of the permanent financing associated with the Dodge acquisition. Income tax expense for the first quarter of fiscal 2023 was $10.5 million compared to $5.4 million for the same period last year. The effective income tax rate for the first quarter of fiscal 2023 was 21.8% compared to 18.4% for the same period last year. The fiscal 2023 first quarter income tax expense included $0.6 million of tax benefits from share-based stock compensation. Income tax expense for the first quarter of fiscal 2022 included $2.1 million of benefit from share-based stock compensation along with $0.2 million of tax benefit associated with the statute of limitations expiration with respect to certain items. Net income for the first quarter of fiscal 2023 was $37.4 million compared to net income of $24.0 million for the same period last year. On an adjusted basis, net income was $40.2 million for the first quarter of fiscal 2023 compared to $24.3 million for the same period last year. Net income available to common stockholders for the first quarter of fiscal 2023 was $31.7 million compared to $24.0 million for the same period last year. On an adjusted basis, net income available to common stockholders for the first quarter of fiscal 2023 was $34.5 million compared to $24.3 million for the same period last year. Diluted EPS for the first quarter of fiscal 2023 was $1.09 compared to $0.95 for the same period last year. On an adjusted basis, diluted EPS was $1.19 for the first quarter of fiscal 2023 compared to $0.96 for the same period last year. On an adjusted basis, new diluted EPS was $1.79 for the first quarter of fiscal 2023 compared to $1.22 for the same period last year. Backlog as of July 2, 2022 was $635.7 million compared to $420.2 million as of July 3, 2021 and $603.1 million as of April 2, 2022. Outlook for the Second Quarter Fiscal 2023 The Company expects net sales to be approximately $355 million to $365 million in the second quarter of fiscal 2023, compared to $160.9 million last year, a growth rate of 121% to 127%. Restatement of Previously Issued Consolidated Financial Statements On August 2, 2022, the Audit Committee of the Board of Directors of the Company, in consultation with the Company’s management, concluded that the previously issued consolidated financial statements as of and for the years ended April 2, 2022, April 3, 2021, and March 28, 2020 and the consolidated financial statements for the quarters therein (the “Affected Periods”) included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 26, 2022 contained an error related to the accounting of non-cash stock-based compensation granted to the Company’s CEO and COO. As a result of this error, the Audit Committee determined that the Company’s consolidated financial statements for the Affected Periods included in the 2022 Annual Report on Form 10-K should not be relied upon and should be restated by adjusting selling, general and administrative expenses to reflect non-cash stock-based compensation that should have been recognized in each of the Affected Periods. Any previously issued or filed reports, press releases, earnings releases and investor presentations or other communications describing the Company’s previously issued consolidated financial statements and other related financial information covering the Affected Periods should no longer be relied upon. The need for the restatement arose out of the Company’s reexamination of the timing of the Company’s recognition of stock-based compensation, a non-cash item, for awards granted to the CEO and COO in light of their employment agreements as then in effect, which historically included provisions that (i) would accelerate the vesting of all the CEO’s then-unvested shares of restricted stock and stock options in the event that he voluntarily resigns from employment or provides the Company with notice that his employment agreement will not renew, and (ii) would accelerate the vesting of all the COO’s then-unvested shares of restricted stock and stock options in the event that he provides the Company with notice that his employment agreement will not renew. Historically, the Company recognized stock-based compensation for restricted stock awards granted to the CEO and COO over the three-year vesting period and option awards over the five-year vesting period stated in the agreements underlying these awards, but U.S. GAAP requires stock-based compensation for awards to be recognized over the shorter service period effectively provided by the above-referenced provisions in the CEO and COO’s respective employment agreements. The CEO and COO’s employment agreements have been amended to remove the provisions referred to above (which the Company, the CEO and COO consider to be a technical mistake causing the employment agreements to not reflect the parties’ mutual agreement) so the Company will recognize stock-based compensation for restricted stock and option awards granted in the future to the CEO and COO over the full three- and five-year vesting periods, respectively, rather than over the shorter service period applicable to the prior awards. The change in the recognition of stock-based compensation is a non-cash item that affects the timing of recognition but not the total amount of the corresponding compensation expense for each award. The following table shows the Company’s SG&A and operating income for the Affected Periods as previously reported and as restated: (in thousands) As Previously Reported Restatement Impacts As Restated Fiscal Year Ended April 2, 2022 Selling, general and administrative expenses $ 158,634 $ 8,969 $ 167,603 Operating income $ 130,063 $ (8,969 ) $ 121,094 Fiscal Year Ended April 3, 2021 Selling, general and administrative expenses $ 106,000 $ (3,217 ) $ 102,783 Operating income $ 111,458 $ 3,217 $ 114,675 Fiscal Year Ended March 28, 2020 Selling, general and administrative expenses $ 122,565 $ 7,418 $ 129,983 Operating income $ 156,785 $ (7,418 ) $ 149,367 The change in the recognition of stock-based compensation described above does not impact the Company’s (i) liquidity or cash flows from operating activities, investing activities and financing activities during the Affected Periods, (ii) Adjusted EBITDA non-GAAP financial measure, or (iii) compliance with its obligations under any material agreement, including the financial covenants contained in the agreements governing its outstanding indebtedness. The Company plans to restate the financial statements as of and for the Affected Periods in an amendment to the 2022 Annual Report on Form 10-K to be filed with the SEC. In addition, the Company’s management has concluded that there was a material weakness in internal control over financial reporting during the Affected Periods relating to the error described above. The Company’s remediation plan with respect to such material weakness will be described in the amendment to the 2022 Annual Report on Form 10-K to be filed with the SEC. Live Webcast RBC Bearings Incorporated will host a webcast on Thursday, August 4th at 12:00 p.m. ET to discuss the quarterly results. To access the webcast, go to the investor relations portion of the Company’s website, www.rbcbearings.com, and click on the webcast icon. If you do not have access to the Internet and wish to listen to the call, dial 877-407-4019 (international callers dial +1 201-689-8337) and provide conference ID # 13731919. An audio replay of the call will be available from 3:00 p.m. ET August 4th, 2022, until 3:00 p.m. ET August 18th, 2022. The replay can be accessed by dialing 877-660-6853 (international callers dial +1 201-612-7415) and providing conference ID # 13731919. Investors are advised to dial into the call at least ten minutes prior to the call to register. Non-GAAP Financial Measures In addition to disclosing results of operations that are determined in accordance with U.S. generally accepted accounting principles (GAAP), this press release also discloses non-GAAP results of operations that exclude certain items. These non-GAAP measures adjust for items that management believes are unusual. Management believes that the presentation of these non-GAAP measures provides useful information to investors regarding the Company’s results of operations, as these non-GAAP measures allow investors to better evaluate ongoing business performance. Investors should consider non-GAAP measures in addition to, not as a substitute for, financial measures prepared in accordance with GAAP. A reconciliation of the non-GAAP measures disclosed in this press release with the most comparable GAAP measures are included in the financial table attached to this press release. Adjusted Operating Income Adjusted operating income excludes acquisition expenses including the impact of acquisition-related fair value adjustments in connection with purchase, restructuring and other similar charges, gains or losses on extinguishment of debt, and other non-operational, non-cash or non-recurring losses. We believe that adjusted operating income is useful in assessing our financial performance by excluding items that are not indicative of our core operating performance or that may obscure trends useful in evaluating our continuing results of operations. Adjusted Net Income and Adjusted Earnings Per Share Adjusted net income and adjusted earnings per share (calculated on a diluted basis) exclude acquisition expenses including the impact of acquisition-related fair value adjustments in connection with purchase, restructuring and other similar charges, gains or losses on divestitures, discontinued operations, gains or losses on extinguishment of debt, and other non-operational, non-cash or non-recurring losses, net of their income tax impact. We believe that adjusted net income and adjusted earnings per share are useful in assessing our financial performance by excluding items that are not indicative of our core operating performance or that may obscure trends useful in evaluating our continuing results of operations. New Adjusted Net Income and New Adjusted Earnings Per Share New adjusted net income and new adjusted earnings per share excludes non-cash expenses for amortization related to acquired intangible assets, stock compensation and amortization of deferred finance fees, net of their income tax impact. We believe that new adjusted net income and new adjusted earnings per share are useful in assessing our financial performance by excluding items that are not indicative of our core operating performance or that may obscure trends useful in evaluating our continuing results of operations. EBITDA EBITDA represents earnings from continuing operations before interest and other debt related activities, taxes, depreciation and amortization and stock compensation expense. EBITDA is presented because it is an important supplemental measure of performance and it is frequently used by analysts, investors and other interested parties in the evaluation of companies in our industry. EBITDA is also presented and compared by analysts and investors in evaluating our ability to meet debt service obligations. Other companies in our industry may calculate EBITDA differently. EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of operating performance or any other measures of performance derived in accordance with GAAP. Because EBITDA is calculated before recurring cash charges, including interest expense and taxes, and is not adjusted for capital expenditures or other recurring cash requirements of the business, it should not be considered as a measure of discretionary cash available to invest in the growth of the business. Adjusted EBITDA Adjusted EBITDA is the term we use to describe EBITDA adjusted for the items summarized in the Reconciliation of GAAP to Non-GAAP Financial Measures table below. Adjusted EBITDA is intended to show our unleveraged, pre-tax operating results and therefore reflects our financial performance based on operational factors, excluding non-operational, non-cash or non-recurring losses or gains. In view of our debt level, it is also provided to aid investors in understanding our compliance with our debt covenants. Adjusted EBITDA is not a presentation made in accordance with GAAP, and our use of the term Adjusted EBITDA varies from others in our industry. Adjusted EBITDA should not be considered as an alternative to net income, income from operations or any other performance measures derived in accordance with GAAP. Adjusted EBITDA has important limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for, analysis of our results as reported under GAAP. For example, Adjusted EBITDA does not reflect: (a) our capital expenditures, future requirements for capital expenditures or contractual commitments; (b) changes in, or cash requirements for, our working capital needs; (c) the significant interest expenses, or the cash requirements necessary to service interest or principal payments, on our debt; (d) tax payments that represent a reduction in cash available to us; (e) any cash requirements for the assets being depreciated and amortized that may have to be replaced in the future; or (f) the impact of earnings or charges resulting from matters that we and the lenders under our credit agreement may not consider indicative of our ongoing operations. In particular, our definition of Adjusted EBITDA allows us to add back certain non-cash, non-operating or non-recurring charges that are deducted in calculating net income, even though these are expenses that may recur, vary greatly and are difficult to predict and can represent the effect of long-term strategies as opposed to short-term results. In addition, certain of these expenses can represent the reduction of cash that could be used for other corporate purposes. Further, although not included in the calculation of Adjusted EBITDA below, the measure may at times allow us to add estimated cost savings and operating synergies related to operational changes ranging from acquisitions to dispositions to restructurings and/or exclude one-time transition expenditures that we anticipate we will need to incur to realize cost savings before such savings have occurred. Further, management and various investors use the ratio of total debt less cash to Adjusted EBITDA (which includes a full pro-forma last-twelve-month impact of acquisitions), or "net debt leverage", as a measure of our financial strength and ability to incur incremental indebtedness when making key investment decisions and evaluating us against peers. Lastly, management and various investors use the ratio of the change in Adjusted EBITDA divided by the change in net sales (referred to as “incremental margin” in the case of an increase in net sales or “decremental margin” in the case of a decrease in net sales) as an additional measure of our financial performance and is utilized when making key investment decisions and evaluating us against peers. About RBC Bearings RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings, components and essential systems. Founded in 1919, the Company is primarily focused on producing highly technical or regulated bearing products and components requiring sophisticated design, testing, and manufacturing capabilities for the diversified industrial, aerospace and defense markets. The Company is headquartered in Oxford, Connecticut. Safe Harbor for Forward Looking Statements Certain statements in this press release contain “forward-looking statements.” All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including the following: the section of this press release entitled “Outlook”; any projections of earnings, revenue or other financial items relating to the Company, any statement of the plans, strategies and objectives of management for future operations; any statements concerning proposed future growth rates in the markets we serve; any statements of belief; any characterization of and the Company’s ability to control contingent liabilities; anticipated trends in the Company’s businesses; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words “may,” “would,” “estimate,” “intend,” “continue,” “believe,” “expect,” “anticipate,” and other similar words. Although the Company believes that the expectations reflected in any forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties beyond the control of the Company. These risks and uncertainties include, but are not limited to, risks and uncertainties relating to general economic conditions, the COVID-19 pandemic, geopolitical factors, future levels of aerospace/defense and industrial market activity, future financial performance, our debt leverage, the integration of our recent Dodge acquisition, market acceptance of new or enhanced versions of the Company’s products, the pricing of raw materials, changes in the competitive environments in which the Company’s businesses operate, the outcome of pending or future litigation and governmental proceedings and approvals, estimated legal costs, increases in interest rates, tax legislation and changes, the Company’s ability to meet its debt obligations, the Company’s ability to acquire and integrate complementary businesses, and risks and uncertainties listed or disclosed in the Company’s reports filed with the Securities and Exchange Commission, including, without limitation, the risks identified under the heading “Risk Factors” set forth in the Company’s most recent Annual Report filed on Form 10-K. The Company does not intend, and undertakes no obligation, to update or alter any forward-looking statements. RBC Bearings Incorporated Consolidated Statements of Operations (dollars in thousands, except share and per share data) (Unaudited) Three Months Ended July 2, July 3, 2022 2021 $ 354,080 $ 156,205 212,928 92,432 141,152 63,773 55,828 31,212 20,854 3,248 76,682 34,460 64,470 29,313 15,799 319 767 (465 ) 47,904 29,459 10,466 5,421 37,438 24,038 5,750 - $ 31,688 $ 24,038 $ 1.11 $ 0.96 $ 1.09 $ 0.95 28,670,488 25,021,063 28,944,955 25,392,047 Three Months Ended July 2, July 3, 2022 2021 $ 64,470 $ 29,313 82 - 3,705 - - 557 $ 68,257 $ 29,870 Three Months Ended July 2, July 3, 2022 2021 $ 37,438 $ 24,038 82 - 3,705 - - 557 (163 ) 13 (826 ) (309 ) $ 40,236 $ 24,299 5,750 - $ 34,486 $ 24,299 $ 1.20 $ 0.97 $ 1.19 $ 0.96 28,670,488 25,021,063 28,944,955 25,392,047 Three Months Ended July 2, July 3, 2022 2021 $ 64,470 $ 29,313 28,642 8,212 3,819 7,182 $ 96,931 $ 44,707 82 - 3,705 - - 557 $ 100,718 $ 45,264 Three Months Ended July 2, July 3, 2022 2021 $ 34,486 $ 24,299 16,411 2,081 3,819 7,182 2,298 106 (5,212 ) (2,644 ) $ 51,802 $ 31,024 $ 1.81 $ 1.24 $ 1.79 $ 1.22 28,670,488 25,021,063 28,944,955 25,392,047 Three Months Ended July 2, July 3, 2022 2021 $ 59,035 $ 53,293 $ 7,857 $ 3,367 $ 1,565,330 $ 10,754 $ 119,587 $ 296,091 $ 1,445,743 $ (285,337 ) $ 5,984 $ 6,264 $ 635,741 $ 420,218 Three Months Ended July 2, July 3, 2022 2021 $ 254,681 $ 65,840 99,399 90,365 $ 354,080 $ 156,205
- 08/04/2022
|
RBC Bearings to Webcast First Quarter Fiscal Year 2023 Earnings Conference Call August 4th
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, today announced that it will release its first quarter fiscal 2023 financial results before market open on Thursday, August 4th. RBC Bearings will host a conference call to discuss the results on Thursday, August 4th at 12:00 p.m. ET. Dr. Michael J. Har
- 07/22/2022
|
Why RBC Bearings (ROLL) is an Attractive Bet for Investors
- RBC Bearings (ROLL) to benefit from strength across its diverse end markets and acquired assets. Its sound shareholder-friendly policies are a bonus.
- 07/15/2022
|
RBC Bearings Receives Boeing 2022 Supplier of the Year Award
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, today announced it has received recognition from The Boeing Company (NYSE: BA) as one of its top suppliers at the company's 2022 Supplier of the Year event in Los Angeles. “The entire RBC Bearings organization is very proud of the Supplier of the Year A
- 06/24/2022
|
Reasons Why You Should Avoid Investing in ABB Stock Now
- ABB is experiencing cost concerns and a high tax rate along with weakness across its Motion and Robotics & Discrete Automation segments.
- 06/23/2022
|
RBC Bearings (ROLL) Up 10.1% in a Month: What's Driving it?
- RBC Bearings (ROLL) is poised to benefit from its diversified business structure, end-market strength, acquired asset and shareholder-friendly policies.
- 06/21/2022
|
Here's Why It is Worth Investing in RBC Bearings (ROLL) Now
- RBC Bearings (ROLL) is poised to benefit from solid businesses, product-development initiatives and shareholder-friendly policies.
- 06/03/2022
|
Earnings Estimates Rising for RBC Bearings (ROLL): Will It Gain?
- RBC Bearings (ROLL) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
- 06/02/2022
|
RBC Bearings (ROLL) to Gain From Solid End Markets Amid Risks
- RBC Bearings (ROLL) stands to gain from solid momentum in its general industrial, mining and energy markets, and acquired assets. High debt level, and escalating costs and expenses weigh on it.
- 05/30/2022
|
RBC Bearings (ROLL) Q4 Earnings & Revenues Beat Estimates
- RBC Bearings' (ROLL) fourth-quarter fiscal 2022 revenues increase 123.9% year over year on account of solid performance across its segments and the benefits from the DODGE buyout.
- 05/27/2022
|
Is RBC Bearings Rolling Into A Reversal?
- RBC Bearings (NASDAQ: ROLL) is not a large company but its FQ4 results are among the most important at this stage in the earnings cycle. The company makes ball bearings and ball bearing components which isn't very exciting until you think about all the applications for bearings.
- 05/27/2022
|
RBC Bearings Incorporated's (ROLL) CEO Dr. Michael Hartnett on Q4 2022 Results - Earnings Call Transcript
- RBC Bearings Incorporated (NASDAQ:ROLL ) Q4 2022 Earnings Conference Call May 26, 2022 11:00 AM ET Company Representatives Dr. Michael Hartnett - Chairman, President, Chief Executive Officer Daniel Bergeron - Director, Vice President, Chief Operating Officer Robert Sullivan - Vice President, Chief Financial Officer Josh Carroll - Investor Relations Conference Call Participants Kristine Liwag - Morgan Stanley Pete Skibitski - Alembic Global Joe Ritchie - Goldman Sachs Steve Barger - KeyBanc Capital Larry Stavitski - Wells Fargo Elizabeth Grenfell - Bank of America Michael Ciarmoli - Truist Operator Good day! And thank you for standing by.
- 05/26/2022
|
Why RBC Bearings Shares Are Gaining Today
- RBC Bearings Inc (NASDAQ: ROLL) reported fourth-quarter FY22 sales growth of 123.9% year-over-year to $358.9 million, beating the consensus of $349.79 million. The adjusted gross margin improved to 40.2% in Q4 from 39.1% in 4Q21.
- 05/26/2022
|
RBC Bearings (ROLL) Surpasses Q4 Earnings and Revenue Estimates
- RBC Bearings (ROLL) delivered earnings and revenue surprises of 18.87% and 2.61%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?
- 05/26/2022
|
Earnings Preview: RBC Bearings (ROLL) Q4 Earnings Expected to Decline
- RBC Bearings (ROLL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 05/19/2022
|
RBC Bearings to Webcast Fourth Quarter Fiscal Year 2022 Earnings Conference Call May 26th
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL, ROLLP), a leading international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries, today announced that it will release its fourth quarter fiscal 2022 financial results before market open on Thursday, May 26th. RBC Bearings will host a conference call to discuss the results on Thursday, May 26th at 11:00 a.m. ET. Dr. Michael J. Hartnett, Chairman, Presi
- 04/29/2022
|
RBC Bearings (ROLL) Gains From End-Market Strength Amid Risks
- RBC Bearings (ROLL) is likely to benefit from strength in its general industrial, mining and energy markets and acquired asset. A weak defense market and escalating costs and expenses weigh on it.
- 02/28/2022
|
RBC Bearings' (ROLL) CEO Michael J. Hartnett on Q3 2022 Results - Earnings Call Transcript
- RBC Bearings' (ROLL) CEO Michael J. Hartnett on Q3 2022 Results - Earnings Call Transcript
- 02/10/2022
|
RBC Bearings (ROLL) Surpasses Q3 Earnings and Revenue Estimates
- RBC Bearings (ROLL) delivered earnings and revenue surprises of 6.06% and 5.46%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?
- 02/10/2022
|
Analysts Estimate RBC Bearings (ROLL) to Report a Decline in Earnings: What to Look Out for
- RBC Bearings (ROLL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 01/28/2022
|
RBC Bearings to Webcast Third Quarter Fiscal Year 2022 Earnings Conference Call February 10th
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries, today announced that it will release its third quarter fiscal 2022 financial results before market open on Thursday, February 10th. RBC Bearings will host a conference call to discuss the results on Thursday, February 10th at 11:00 a.m. ET. Dr. Michael J. Hartnett, Chairman, Pre
- 01/28/2022
|
4 Stocks Growing Free Cash Flow Fast
- If you are looking for investment opportunities among U.S.-listed equities, you may want to consider the stocks of companies that have seen their free cash flow increase significantly in recent years. As a result, these businesses should be flexible enough to continue to support the development of projects and return cash to shareholders.
- 01/23/2022
|
Goldman Sachs Sees 14% Upside In RBC Bearings
- Goldman Sachs analyst Joe Ritchie initiated RBC Bearings Inc (NASDAQ:ROLL) with a Neutral rating and a price target of $217, implying an upside of 14%. The analyst noted the company is "well-poised" to compound value over time with the recent acquisition of Dodge.
- 12/20/2021
|
Citi Initiates RBC Bearings At Neutral, Sees 11% Upside
- Citi analyst Timothy Thein initiated RBC Bearings Inc (NASDAQ:ROLL) with a Neutral rating and a price target of $220, implying an upside of 11.29%. The analyst sees a "lot to like" about the Dodge acquisition but says integration could be difficult amid supply chain challenges.
- 12/01/2021
|
RBC Bearings (ROLL) Q2 Earnings Lag Estimates, Down Y/Y
- RBC Bearings' (ROLL) fiscal second-quarter revenues increase 10% year over year on account of impressive performance across its segments.
- 11/15/2021
|
RBC Bearings Incorporated (ROLL) CEO Michael Hartnett on Q2 2022 Results - Earnings Call Transcript
- RBC Bearings Incorporated (ROLL) CEO Michael Hartnett on Q2 2022 Results - Earnings Call Transcript
- 11/12/2021
|
Preview: RBC Bearings's Earnings
- RBC Bearings (NASDAQ:ROLL) is set to give its latest quarterly earnings report on Friday, 2021-11-12. Here's what investors need to know before the announcement.
- 11/11/2021
|
RBC Bearings (ROLL) to Report Q2 Results: Wall Street Expects Earnings Growth
- RBC Bearings (ROLL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 10/22/2021
|
Industrial Strength Aids RBC Bearings (ROLL) Amid Aerospace Woes
- RBC Bearings (ROLL) is gaining from healthy demand in industrial markets as well as product innovation, healthy rewards to shareholders and liquidity. The aerospace market-related woes are concerning.
- 10/12/2021
|
RBC Bearings' (ROLL) Equity, Debt Offerings to Fund DODGE Buyout
- RBC Bearings (ROLL) raises funds through common and preferred stocks, and notes offerings to finance the DODGE buyout. Raising funds via revolving and term-loan facilities are also being considered.
- 10/08/2021
|
RBC Bearings Incorporated Completes Debt and Equity Offerings for Financing of Pending Dodge Acquisition
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer and marketer of highly engineered precision bearings and products for the industrial, defense and aerospace industries, today announced the closings of its previously announced offerings of common stock and mandatory convertible preferred stock on September 24, 2021, and the closing of the offering of $500 million aggregate principal amount of 4.375% senior notes due 2029 by Roller Bea
- 10/07/2021
|
New Preferred Stock IPOs, September 2021
- As September 2021 comes to a close, we look back at the new preferred stocks and ETDs introduced during the month, offering annual yields ranging from 4.25% to 8.5%.
- 09/30/2021
|
RBC Bearings (ROLL) Issues Stocks, Prices $500M Senior Notes
- RBC Bearings (ROLL) issues common and convertible preferred stocks to the public and underwriters, and prices senior notes offering. Proceeds from the offerings will be used for the DODGE buyout.
- 09/27/2021
|
RBC Bearings Incorporated Announces Pricing of 4.375% Senior Notes due 2029 by Roller Bearing Company of America, Inc.
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL) (“RBC Bearings”), a leading international manufacturer and marketer of highly engineered precision bearings and products for the industrial, defense and aerospace industries, today announced that Roller Bearing Company of America, Inc. (the “Issuer”), a wholly-owned subsidiary of RBC Bearings, has successfully priced an offering of $500.0 million aggregate principal amount of 4.375% senior notes due 2029 (the “Notes”). The
- 09/23/2021
|
RBC Bearings (ROLL) Prices Stock Offerings, To Offer Notes
- RBC Bearings (ROLL) offers common and convertible preferred stocks to the public and intends on offering senior notes privately. Proceeds are to be primarily used for funding the DODGE buyout.
- 09/23/2021
|
RBC Bearings (ROLL) Offers Common & Preferred Stocks to Public (Revised)
- RBC Bearings (ROLL) offers common and convertible preferred stocks to the public. It intends on using the proceeds for the DODGE buyout and pay related fees, and satisfy general corporate purposes.
- 09/23/2021
|
Strength Seen in RBC Bearings (ROLL): Can Its 5.4% Jump Turn into More Strength?
- RBC Bearings (ROLL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
- 09/23/2021
|
RBC Bearings Prices Equity, Debt Offerings To Fund Dodge Deal
- RBC Bearings Inc (NASDAQ: ROLL) prices its concurrent public offerings of 3 million shares of common stock at $185 per share and 4 million shares of Series A Mandatory Convertible Preferred Stock at $100 per share. The offerings are scheduled to close on September 24, 2021.
- 09/22/2021
|
RBC Bearings Incorporated Announces Proposed Offering of Senior Notes by Roller Bearing Company of America, Inc.
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL) (“RBC Bearings”), a leading international manufacturer and marketer of highly engineered precision bearings and products for the industrial, defense and aerospace industries, today announced that Roller Bearing Company of America, Inc. (the “Issuer”), a wholly-owned subsidiary of RBC Bearings, intends to offer $500 million in aggregate principal amount of senior notes due 2029 (the “Notes”) in a private offering. The offer
- 09/22/2021
|
RBC Bearings (ROLL) Offers Common & Preferred Stocks to Public
- RBC Bearings (ROLL) offers common and convertible preferred stocks to the public. It intends on using the proceeds for the DODGE buyout and pay related fees, and satisfy general corporate purposes.
- 09/21/2021
|
RBC Bearings Incorporated Announces Proposed Offerings of Common Stock and Mandatory Convertible Preferred Stock
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer and marketer of highly engineered precision bearings and products for the industrial, defense and aerospace industries, today announced that it has commenced concurrent public offerings of 3 million shares of its common stock and $400 million in aggregate liquidation preference of Series A Mandatory Convertible Preferred Stock (the “mandatory convertible preferred stock”). RBC Bearings
- 09/20/2021
|
RBC Bearings Incorporated (ROLL) CEO Michael Hartnett on Q1 2022 Results - Earnings Call Transcript
- RBC Bearings Incorporated (ROLL) CEO Michael Hartnett on Q1 2022 Results - Earnings Call Transcript
- 08/08/2021
|
RBC Bearings (ROLL) Q1 Earnings Top Estimates, Sales Lag
- RBC Bearings' (ROLL) Q1 earnings rise y/y as improved operating income offset a marginal decline in sales. Sales from the aerospace business decrease y/y, while that from industrial rise.
- 08/06/2021
|
Rexnord Leveraging Strong Retrofit And Recovery
- Rexnord Leveraging Strong Retrofit And Recovery
- 08/03/2021
|
RBC Bearings Stock Jumps On Acquiring ABB's DODGE Mechanical Power Transmission Business For $2.9B
- RBC Bearings Inc (NASDAQ: ROLL) has agreed to acquire the DODGE mechanical power transmission division (DODGE) of ABB Ltd (NYSE: ABB) for $2.9 billion in cash. The purchase price represents 16.7x DODGE's adjusted EBITDA for the 12 months ended June 30, 2021.
- 07/26/2021
|
ROLL Stock Increases Over 19% Intraday: Why It Happened
- The stock price of RBC Bearings Inc (NASDAQ: ROLL) increased by over 19% during intraday trading. This is why it happened.
- 07/26/2021
|
RBC Bearings to Webcast First Quarter Fiscal Year 2022 Earnings Conference Call August 5th
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries, today announced that it will release its first quarter fiscal 2022 financial results before market open on Thursday, August 5th. RBC Bearings will host a conference call to discuss the results on Thursday, August 5th at 11:00 a.m. ET. Dr. Michael J. Hartnett, Chairman, President
- 07/26/2021
|
RBC Bearings to acquire ABB's Dodge mechanical power transmission division business for $2.9 billion
- ABB Ltd. announced Monday morning that it had reached an agreement to divest its mechanical power transmission division, known as Dodge, to RBC Bearings Inc. in a $2.9 billion all-cash deal. ABB expects that the sale will boost its balance sheet, allowing it to "fund organic growth, pay a rising sustainable dividend per share and make value-creating acquisitions," per its release.
- 07/26/2021
|
ABB sells Dodge transmission business to RBC Bearings for $2.9 billion
- ABB will sell its Dodge power transmission unit to RBC Bearings Inc in a $2.9 billion deal, the Swiss engineering and technology company said on Monday.
- 07/26/2021
|
RBC Bearings to Participate in the William Blair 41st Annual Growth Stock Conference
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries, today announced that it will participate in the William Blair 41st Annual Growth Stock Conference on June 2, 2021. Materials shared during the conference will be available online at: http://investor.rbcbearings.com. Chairman, President and Chief Executive Officer, Dr. Michael J,
- 05/25/2021
|
RBC Bearings (ROLL) Q4 Earnings Beat Estimates, Decline Y/Y
- RBC Bearings' (ROLL) Q4 earnings decline year over year as the top-line performance suffers from the adverse impacts of the pandemic. Margin also decreases in the reported quarter.
- 05/24/2021
|
RBC Bearings Incorporated (ROLL) CEO Michael Hartnett on Q4 2021 Results - Earnings Call Transcript
- RBC Bearings Incorporated (ROLL) CEO Michael Hartnett on Q4 2021 Results - Earnings Call Transcript
- 05/21/2021
|
RBC Bearings (ROLL) Q4 Earnings and Revenues Top Estimates
- RBC Bearings (ROLL) delivered earnings and revenue surprises of 0.93% and 0.83%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?
- 05/21/2021
|
Recap: RBC Bearings Q4 Earnings
- Shares of RBC Bearings (NASDAQ:ROLL) were unchanged after the company reported Q4 results. Quarterly Results Earnings per share were down 18.80% year over year to $1.08, which beat the estimate of $1.05.
- 05/21/2021
|
Earnings Preview: RBC Bearings (ROLL) Q4 Earnings Expected to Decline
- RBC Bearings (ROLL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 05/14/2021
|
RBC Bearings to Participate in the BofA Global Research Global Industrials Conference 2021
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries, today announced that it will participate in the BofA Global Research Global Industrials Conference 2021 on March 16, 2021. Materials shared during the conference will be available online at: http://investor.rbcbearings.com. Vice President and Chief Operating Officer, Daniel A. B
- 03/10/2021
|
Top Stocks To Short Today As Market Struggles To Reverse Losing Streak
- Stocks have dropped again due to bond yields. In the meantime, Q.ai's Artificial Intelligence has assessed the data to bring you today's best short plays.
- 03/04/2021
|
Why Is RBC Bearings (ROLL) Up 13.9% Since Last Earnings Report?
- RBC Bearings (ROLL) reported earnings 30 days ago. What's next for the stock?
- 02/28/2021
|
RBC Bearings (ROLL) Q3 Earnings Top Estimates, Q4 View Weak
- RBC Bearings' (ROLL) Q3 earnings beat estimates and decline y/y on weak sales generation and a fall in margins. It expects a y/y decline in net sales for Q4.
- 02/01/2021
|
RBC Bearings' (ROLL) CEO Michael Hartnett on Q3 2021 Results - Earnings Call Transcript
- RBC Bearings' (ROLL) CEO Michael Hartnett on Q3 2021 Results - Earnings Call Transcript
- 01/29/2021
|
RBC Bearings (ROLL) Tops Q3 Earnings and Revenue Estimates
- RBC Bearings (ROLL) delivered earnings and revenue surprises of 5.88% and 2.56%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?
- 01/29/2021
|
RBC Bearings Incorporated Announces Fiscal 2021 Third Quarter Results
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries, today reported results for the third quarter of fiscal year 2021. Third Quarter Financial Highlights ($ in millions) Fiscal 2021 Fiscal 2020 Change GAAP Adjusted (1) GAAP Adjusted (1) GAAP Adjusted (1) Net sales $145.9 $177.0 -17.6% Gross margin $55.6 $56
- 01/29/2021
|
Earnings Preview: RBC Bearings (ROLL) Q3 Earnings Expected to Decline
- RBC Bearings (ROLL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 01/22/2021
|
RBC Bearings to Webcast Third Quarter Fiscal Year 2021 Earnings Conference Call January 29th
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries, today announced that it will release its third quarter financial results before market open on Friday, January 29th. RBC Bearings will host a conference call to discuss the results on Friday, January 29th at 11:00 a.m. ET. Dr. Michael J. Hartnett, Chairman, President and Chief E
- 01/15/2021
|
RBC Bearings (ROLL) Up 47.1% Since Last Earnings Report: Can It Continue?
- RBC Bearings (ROLL) reported earnings 30 days ago. What's next for the stock?
- 11/29/2020
|
RBC Bearings Incorporated (ROLL) CEO Michael Hartnett on Q2 2021 Results - Earnings Call Transcript
- RBC Bearings Incorporated (ROLL) CEO Michael Hartnett on Q2 2021 Results - Earnings Call Transcript
- 10/30/2020
|
RBC Bearings: Q2 Earnings Insights
- Shares of RBC Bearings (NASDAQ:ROLL) were unchanged after the company reported Q2 results.
- 10/30/2020
|
RBC Bearings Incorporated Announces Fiscal 2021 Second Quarter Results
- OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries, today reported results for the second quarter of fiscal year 2021. Second Quarter Financial Highlights ($ in millions) Fiscal 2021 Fiscal 2020 Change GAAP Adjusted (1) GAAP Adjusted (1) GAAP Adjusted (1) Net sales $146.3 $181.9 -19.6% Gross margin $56.6 $58.6 $71.1 $71
- 10/30/2020
|
