- 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.
- Adjusted operating income increased to $70.4 million (+116.4% Y/Y), and margin contracted to 19.6% from 20.3% in 4Q21.
- Adjusted EPS improved to $1.26, from $1.08 a year ago, above the consensus of $1.14.
- Net sales for Industrial segment increased 297.3% Y/Y, including sales of ~$181.9 million from Dodge, and the Aerospace/Defense segment increased 8.9% Y/Y.
- Adjusted EBITDA increased by 127.5% Y/Y to $104.44 million, and margin expanded by 46 bps to 29.1%.
- RBC Bearings generated cash from operating activities of $180.29 million in FY22, compared to $152.45 million a year ago.
- As of April 2, 2022, the Backlog was $603.1 million compared to $394.8 million as of April 3, 2021.
- 1Q23 Outlook: RBC Bearings expects net sales of ~$355 million - $365 million (consensus of $351.06 million), compared to $156.2 million last year.
- Price Action: ROLL shares are trading higher by 7.64% at $171.12 on the last check Thursday.
