RBC Bearings (ROLL) Reports In-Line Q4 EPS, Revenues Beat; Offers 1Q Revenue Outlook

RBC Bearings (NASDAQ: ROLL) reported Q4 EPS of $1.33, in-line with the analyst estimate of $1.33. Revenue for the quarter came in at $185.8 million versus the consensus estimate of $183.29 million.

Key Highlights

• Fourth quarter adjusted gross margin as a percentage of sales of 41.3% represents an increase of 120 basis points over the same period last year
• Fourth quarter adjusted operating income as a percentage of sales of 23.1% increased 50 basis points over the prior year period
• Fourth quarter cash flow from operations less capital expenditures was $34.7 million and $118.3 million for the full fiscal year

“The Company ended fiscal 2020 with solid execution and performance in the fourth quarter under highly unusual circumstances,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. “We enter fiscal 2021 from a position of strength, with a healthy backlog, ample liquidity and a strong balance sheet. While we continue to evaluate the impacts of COVID-19 across our end markets, our strong balance sheet and other liquidity options provide us many tools to effectively navigate this environment and achieve our operational goals.”

GUIDANCE:

RBC Bearings sees Q1 2021 revenue of $150-155 million, versus the consensus of $153.1 million.

• The Company expects net sales to be approximately $150.0 million to $155.0 million in the first quarter of fiscal 2021, compared to $182.7 million last year.

For earnings history and earnings-related data on RBC Bearings (ROLL) click here.

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