RBC Bearings Fiscal 1Q Sales Rise 9.3% - Modern Distribution Management

Log In

RBC Bearings Fiscal 1Q Sales Rise 9.3%

The company said that Aerospace/Defense sales were up 21.2%, while Industrial sales were up 4.7%.

Oxford, Connecticut-based RBC Bearings Incorporated on Aug. 4 announced its fiscal 2024 first-quarter earnings, which showed that net sales were $387.1 million, an increase of 9.3% from $354.1 million in 1Q 2023.

Net sales for RBC’s Industrial segment increased 4.7%, while net sales for its Aerospace/Defense segment increased 21.2%. Gross margin for the first quarter of fiscal 2024 was $167.9 million compared to $141.2 million for the same period last year, the company said.

“We are pleased with our first quarter results, as net sales increased 9.3% during the period,” said CEO Dr. Michael J. Hartnett. “As anticipated, we see strong demand for products from the aerospace and defense marine sectors. Our aircraft customers’ pursuit of even greater plane build rates has pushed RBC sales growth well into the double digits; and our industrial sector experiences continuing benefit from healthy order rates for bearings servicing high-growth markets.”

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.