The 2020 Mid-Year Economic Update_long

RBC Bearings Sales Down 0.6% in First Quarter

The decrease was driven mainly by OEM volume declines.

Bearings manufacturer RBC Bearings Inc. (Nasdaq: ROLL), Oxford, CT, reported sales for the first quarter ended June 29 of $102.7 million, a decrease of 0.6 percent compared to the same period a year ago. Profit decreased 12.2 percent to $15.1 million.

The decrease in net sales was mainly the result of a 22 percent decrease in industrial sales driven by OEM volume declines in mining, oil and gas and military vehicles, largely offset by a 22.2 percent increase in aerospace and defense driven by commercial aircraft build rates and the aerospace aftermarket. 

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