RBC 2Q 2022 Sales Up

International manufacturer of engineered precision bearings reported fiscal 2Q net sales were 10% higher than the same period a year ago.
RBC Bearings 3Q 2022 earnings

Bearings manufacturer RBC Bearings Inc. (Nasdaq: ROLL), Oxford, Connecticut, reported 2022 fiscal second-quarter net sales of $160.9 million, a 10% increase over the same quarter a year ago.

RBC’s net income was $23.5 million, a slight increase over the $23.2 million reported in fiscal 2021’s second quarter.

For the first six months of FY 2022, the company had net sales of $317.1 million, compared to $302.8 million a year ago.

RBC’s six-month net income was $49.8 million, up from $46.8 million in FY 2021.

“We are pleased with our second quarter results which demonstrated exceptional growth in our industrial markets and strong order flow for our aerospace and defense products. We began expanding capacity in the aerospace and defense plants during the period to support this expanded demand,” said Dr. Michael J. Hartnett, RBC chairman and CEO. “As we consider the second half of our fiscal year, we expect robust strength for industrial products and strong and continuing growth in aerospace and defense.”

 

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