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RBC Bearings(RBC) - 2021 Q4 - Earnings Call Transcript
2021-05-21 18:43
RBC Bearings Incorporated (ROLL) Q4 2021 Earnings Conference Call May 21, 2021 11:00 AM ET Company Participants Will Stack - Investor Relations Michael Hartnett - Chairman, President and Chief Executive Officer Daniel Bergeron - Director, Vice President and Chief Operating Officer Robert Holden - Vice President and Chief Financial Officer Conference Call Participants Pete Skibitski - Alembic Global Advisors Michael Ciarmoli - Truist Securities Steve Barger - KeyBanc Capital Markets Joseph Ciarleglio - BFS O ...
RBC Bearings (ROLL) Presents At Bank of America Global Industrials Conference - Slideshow
2021-03-19 19:01
Company Overview - RBC Bearings is a leading international manufacturer of highly-engineered, custom configuration, performance-critical bearings and components[7] - The company has a diversified customer base, serving industry-leading customers in a wide array of end markets[4] - RBC Bearings has a strong recurring revenue base, driven by OEM and replacement parts[4] - The company has a proven track record of growth, with a net sales CAGR of 10% over the past twenty-five years[4, 7, 47] - RBC Bearings has completed 26 acquisitions since 1992[4] Financial Performance - In fiscal year 2020, RBC Bearings reported revenue of $7275 million and adjusted net income of $1264 million[49, 50] - Organic sales grew by 43% in fiscal year 2020[7, 50] - For Q3 YTD fiscal year 2021, revenue was $4487 million, down 172% year over year, and adjusted net income was $695 million[8, 53, 54] - Organic sales decreased by 176% for Q3 YTD fiscal year 2021[7, 54] - Aftermarket sales represent approximately 37% of revenues by design[24] - Approximately 65% of FY 2020 revenue is under long-term contracts[24]
RBC Bearings(RBC) - 2021 Q3 - Quarterly Report
2021-01-29 21:33
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 26, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 333-124824 RBC BEARINGS INCORPORATED (Exact name of registrant as specified in its charter) | Delaware | 95-4372080 | | --- | --- | | (Stat ...
RBC Bearings(RBC) - 2021 Q3 - Earnings Call Transcript
2021-01-29 21:12
RBC Bearings, Inc. (ROLL) Q3 2020 Earnings Conference Call January 29, 2020 11:00 AM ET Company Participants Michael Cummings - Partner, President and General Manager, Alpha IR Group Michael Hartnett - Chairman, President, and CEO Robert Sullivan - VP and CFO Daniel Bergeron - VP and COO Conference Call Participants Peter Skibitski - Alembic Global Steve Barger - KeyBanc Capital Markets Michael Ciarmoli - Truist Securities Joseph Ciarleglio - Bradley, Foster & Sargent Operator Good morning, ladies and gentl ...
RBC Bearings(RBC) - 2021 Q2 - Earnings Call Transcript
2020-10-31 18:22
RBC Bearings, Inc. (ROLL) Q2 2021 Earnings Conference Call October 30, 2020 11:00 AM ET Company Participants Michael Cummings – Partner, President and General Manager, Alpha IR Group Michael J. Hartnett – Chairman, President and Chief Executive Officer Daniel A. Bergeron – Director, Vice President and Chief Operating Officer Conference Call Participants Steve Barger – KeyBanc Capital Markets Pete Osterland – Truist Securities Operator Good morning, ladies and gentlemen, and welcome to the RBC Bearings Fisca ...
RBC Bearings(RBC) - 2021 Q1 - Earnings Call Transcript
2020-08-07 20:12
RBC Bearings Incorporated (ROLL) Q1 2021 Earnings Conference Call August 7, 2020 11:00 AM ET Company Participants Brooks Hamilton - IR, Alpha IR Group Michael Hartnett - Chairman, President and Chief Executive Officer Daniel Bergeron - Vice President, Chief Financial Officer and Chief Operating Officer Conference Call Participants Peter Skibitski - Alembic Global Michael Ciarmoli - True Securities Steve Barger - KeyBanc Capital Markets Operator Ladies and gentlemen, thank you for standing by and welcome to ...
RBC Bearings(RBC) - 2020 Q4 - Earnings Call Transcript
2020-05-20 20:11
RBC Bearings Incorporated (ROLL) Q4 2020 Earnings Conference Call May 20, 2020 11:00 AM ET Company Participants Brooks Hamilton - IR, Alpha IR Group Michael Hartnett - Chairman, President and Chief Executive Officer Daniel Bergeron - Vice President, Chief Financial Officer and Chief Operating Officer Conference Call Participants Robert Barger - KeyBanc Capital Markets Inc. Michael Ciarmoli - SunTrust Robinson Humphrey Capital Markets Peter Skibitski - Alembic Global Advisors Operator Ladies and gentlemen, t ...
RBC Bearings(RBC) - 2020 Q3 - Earnings Call Transcript
2020-02-04 20:33
Financial Data and Key Metrics Changes - Net sales for Q3 fiscal 2020 were $177 million, a 3.2% increase from $171.5 million in the same period last year, with organic growth of 3.6% [5] - Adjusted gross margin was $70.9 million or 40.1% of net sales, compared to $68.1 million or 39.7% last year, reflecting a 4.1% increase [6] - Net income for Q3 fiscal 2020 was $30.5 million, up from $16.2 million in the same period last year, with diluted earnings per share at $1.22 compared to $0.65 last year [18][19] Business Line Data and Key Metrics Changes - Sales of industrial products represented 34% of net sales, while aerospace products accounted for 66% [5] - Sales of industrial products decreased by 7.5% year-over-year, primarily due to delays in marine products [8] - Aerospace sales increased, with OEM and defense up 14.7% on an organic basis, driven by markets such as airframe, aero engine, space, and missiles [10] Market Data and Key Metrics Changes - Sales to the industrial aftermarket grew by 13.2%, with a 0.9% organic sales component [9] - Weak markets included mining and oil and gas, while strong markets were in general distribution, semiconductor capital goods, ground defense, and international train [9] Company Strategy and Development Direction - The company is focusing on accommodating changes in production schedules due to Boeing's MAX rescheduling, which has impacted logistics and suppliers [7] - The trailing content per ship is expected to increase from approximately $120,000 to $160,000 over the next year as new contracts mature [11] - The company anticipates a sales range of $187 million to $191 million for Q4, with organic growth projected at 1.9% to 3.5% [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges due to Boeing's schedule changes but expressed confidence in accommodating these changes [7] - The company expects a net impact of $12.5 million over the next 12 months due to the MAX delay, with some offset from increased demand for older 737s [31] - Management sees potential for aerospace volumes to improve in the second half of fiscal 2021, with some offsetting volumes from defense [35] Other Important Information - SG&A expenses for Q3 were $30.7 million, up from $29.1 million last year, primarily due to higher personnel costs [14] - The company generated $46.6 million in cash from operating activities in Q3, compared to $21.1 million last year [20] - Capital expenditures were $7.3 million in Q3, down from $11.5 million last year [21] Q&A Session Summary Question: Can you provide more details about the Boeing 737 pause? - The impact on fiscal 2021 sales is about $40 million, netting to $12.5 million after considering increased production rates for the 777-777X [28][31] Question: Should we think your headwinds on the MAX will be more first half weighted? - Yes, the headwinds are expected to be more pronounced in the first half of fiscal 2021, with potential recovery in the second half [34] Question: Can you quantify the benefit from bringing F-35 work out of Turkey? - The benefit is significant, particularly from non-F35 programs previously produced in Turkey [36] Question: Are you seeing any recovery in the industrial side based on PMI? - Industrial distribution was up 13%, but excluding Swiss Tool, growth was about 0.9% [38] Question: What do you expect the free cash flow impact to be next quarter? - The company expects to be close to the top of its inventory build program, leading to good cash flow generation from operations [49]
RBC Bearings(RBC) - 2020 Q2 - Earnings Call Transcript
2019-11-01 19:52
RBC Bearings, Inc. (ROLL) Q2 2020 Earnings Conference Call November 1, 2019 11:00 AM ET Corporate Participants Chris Donovan - Investor Relations Michael Hartnett - Chairman, President and Chief Executive Officer Dan Bergeron - Vice President, Chief Financial Officer and Chief Operating Officer Conference Call Participants Pete Skibitski - Alembic Global Kristine Liwag - Bank of America George Godfrey - CLK Josh Sullivan - Seaport Global Michael Ciarmoli - SunTrust Steve Barger - KeyBanc Capital Markets Ope ...
RBC Bearings (ROLL) Presents At CL King's 17th Annual Best Ideas Conference - Slideshow
2019-09-19 17:49
CL King 17th Annual Best Ideas Conference September 19, 2019 PRIVATE & CONFIDENTIAL Contains RBC Proprietary Information ©2019 RBC Bearings Incorporated. All rights reserved. Safe Harbor Statement This document contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are "forwardlooking statements" for purposes of federal and state securities laws, including: pr ...