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RBC Bearings(RBC) - 2020 Q1 - Earnings Call Transcript
2019-08-03 04:01
RBC Bearings, Inc. (ROLL) Q1 2020 Earnings Conference Call August 1, 2019 11:00 AM ET Company Participants Chris Donovan – Investor Relations Michael J. Hartnett – Chairman, President and Chief Executive Officer Daniel A. Bergeron – Vice President, Chief Financial Officer and Chief Operating Officer Conference Call Participants Pete Skibitski – Alembic Global Steve Barger – KeyBanc Capital Markets Kristine Liwag – BofA Merrill Lynch George Godfrey – CL King Michael Ciarmoli – SunTrust Josh Sullivan – Seapor ...
RBC Bearings (ROLL) Presents At William Blair Growth Stock Conference - Slideshow
2019-06-06 18:43
William Blair 39th Annual Growth Stock Conference June 6, 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: ...
RBC Bearings(RBC) - 2019 Q4 - Earnings Call Transcript
2019-05-23 21:23
RBC Bearings Inc (ROLL) Q4 2019 Earnings Conference Call May 23, 2019 11:00 AM ET Company Participants Chris Donovan - Investor Relations Michael Hartnett - President and Chief Executive Officer Daniel Bergeron - Vice President, Chief Financial Officer and Chief Operating Officer Conference Call Participants Steve Barger - KeyBanc Capital Mmarkets Michael Ciarmoli - SunTrust Robinson Humphrey Kristine Liwag - BofA Merril Lynch George Godfrey - C. L. King & Associates Peter Skibitski - Alembic Global Advisor ...
RBC Bearings (ROLL) Presents At Bank of America Merrill Lynch Global Industrials Conference - Slideshow
2019-03-19 19:29
Bank of America Merrill Lynch Global Industrials Conference March 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, ...
RBC Bearings(RBC) - 2019 Q3 - Earnings Call Transcript
2019-02-05 19:44
Financial Data and Key Metrics Changes - Net sales for Q3 2019 were $171.5 million, up from $166.9 million in the same period last year, representing a 6.5% organic growth when excluding sales from discontinued businesses [7] - Gross margin increased to $68.1 million or 39.7% of net sales, compared to $64.8 million or 38.8% last year, a 5.2% increase [7] - Adjusted operating income rose to $36.6 million, up from $34.4 million last year, representing 21.4% of sales [7] - Adjusted EBITDA was $47.9 million, accounting for 27.9% of revenues [8] - Net income for Q3 2019 was $16.2 million, down from $23.8 million last year, while adjusted net income was $28.5 million compared to $25.7 million last year [18][19] - Diluted earnings per share were $0.65, down from $0.97 last year, while adjusted diluted EPS was $1.15 compared to $1.05 last year [19][20] Business Line Data and Key Metrics Changes - Industrial products accounted for 38.4% of net sales, while aerospace products represented 61.6% [7] - Industrial OEM sales increased by 9.9%, while distribution and aftermarket remained flat compared to last year's Q3 [8] - Aerospace and defense sales grew by 6.4% on an organic basis, with Aero OEM alone up 9.1% due to increased build rates [10][11] Market Data and Key Metrics Changes - The industrial sector showed a 6.7% year-over-year organic sales growth rate, with a 10.7% increase year-to-date [8] - Mining, oil and gas, machine tool, and general industrial equipment continued to show strength during the period [8] - Year-over-year comparisons are expected to become tougher as historical growth rates normalize to about 2 times GDP [9] Company Strategy and Development Direction - The company is expanding its manufacturing capacity by adding 150,000 square feet across four plant sites to support growth in aircraft products [12] - Key aerospace platforms for growth include the 737 MAX, A320, 787, 777x, and the Joint Strike Fighter [13] - The company aims to internalize processes that are currently outsourced, which is expected to reduce costs and improve efficiency [31] Management's Comments on Operating Environment and Future Outlook - Management noted that supply chain constraints have impacted operations, but they are optimistic about overcoming these challenges [10][51] - The company expects sales for Q4 2019 to be between $178 million and $180 million, compared to $175 million last year [13] - Management anticipates that the aerospace and defense sectors will continue to grow, despite some short-term challenges [60] Other Important Information - SG&A expenses for Q3 2019 were $29.1 million, up from $28.2 million last year, primarily due to higher personnel costs and additional incentive stock compensation [16] - The company generated $21.1 million in cash from operating activities in Q3 2019, down from $28.5 million last year [21] - Total debt as of December 29, 2018, was $114.6 million, with cash on hand of $81.7 million [22] Q&A Session Summary Question: Can you remind us of the content for airframe for a narrowbody and a wide body? - Management indicated that the new manufacturing space is to support growth and that they can identify product demand by plant [25][26] Question: Are there any areas where you're focused on new market opportunities within industrial? - Management mentioned developing products for Caterpillar that do not require lubrication, which is an exciting opportunity [28] Question: What is the organic growth rate embedded in the Q4 guidance? - The organic growth rate is expected to be about 2% to 3% [33] Question: How much of a slack is there in the supply chain? - Management stated that they are delivering on time for 98% of customers, with some struggles for the remaining 2% [47] Question: What are the expected impacts of the new manufacturing capacity on margins? - Management expects that the new capacity will not create a headwind and should be covered by additional revenues [52] Question: Are there any tariff issues negatively impacting revenue? - Management confirmed that they are managing tariff issues and have material pass-through clauses in contracts to mitigate impacts [64] Question: How does the supply constraint compare between airframe and jet engine verticals? - Constraints are mainly felt in the airframe sector, while the engine side is performing well [66]