RBC Bearings Inc. shares surged 5.45% during intraday trading on Friday, propelled by a fiscal first-quarter earnings report that crushed analyst estimates, fueled by exceptional growth in its Aerospace and Defense segment.
The company reported adjusted earnings per share of $3.88, significantly above the $3.43 consensus estimate. Net sales jumped 19.2% year-over-year to $519.5 million, easily topping the $509.2 million forecast. The standout performance was the Aerospace & Defense segment, which saw a 36.9% revenue surge, while the VACCO acquisition contributed $34.4 million in sales.
CEO Michael J. Hartnett cited record margins, cash flow, and backlog, noting the majority of end markets are expanding. For the fiscal second quarter, RBC Bearings expects net sales between $505 million and $515 million, roughly in line with estimates, though its gross margin guidance of 45.5% to 45.75% suggests a sequential dip from the 47.7% achieved in the first quarter.
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