Highest-materiality recent filing
RBC Bearings acquires PSC Couplings for $24.2M cash via Dodge Industrial
Dodge Industrial subsidiary bought PSC Couplings, LLC assets for $24.2 million cash.
RBC Bearings Q1 FY2027 net sales up 19.2% to $519.5M; diluted EPS $3.20 vs $2.17 YoY
Net sales $519.5M (+19.2% YoY); Aerospace & Defense up 36.9%, Industrial up 8.4%.
RBC Bearings amends CEO Hartnett and COO Bergeron employment agreements, raising base salaries 3%
CEO Hartnett base salary raised to $1,591,350/year (3% increase, retroactive to June 1, 2026).
RBC Bearings Q4 net sales +18.3% to $518M; Aero/Def +41.2%; adj. EPS $3.62 vs $2.83
Q4 GAAP diluted EPS $2.89; adjusted diluted EPS $3.62, up 27.9% YoY.
RBC Bearings Q3 adjusted EPS $3.04, up 29.9% YoY; sales up 17%, backlog doubles to $2.1B
Net sales $461.6M (+17% YoY); A&D segment up 41.5%, Industrial up 3.1%.
RBC Bearings Q2 FY2026: Net sales +14.4% to $455.3M; adj. EPS $2.88
Sales growth driven by Aerospace/Defense (+38.8%); Industrial +0.7%; VACCO contributed $24.7M.
RBC Bearings extends $500M revolver maturity to 2030; removes interest coverage covenant
Revolving credit facility maturity extended from Nov 2, 2026 to Oct 28, 2030.
RBC Bearings shareholders reelect directors, ratify auditor, approve say-on-pay
All four director nominees elected: Bergeron (29.2M for), Boyan (29.4M), Stewart (23.0M), Elmy (29.8M).
RBC Bearings Q1 FY2026 sales up 7.3% to $436M; EPS $2.17 GAAP, $2.84 adjusted
Net sales $436M vs $406.3M YoY (+7.3%); A&D segment +10.4%, Industrial +5.5%.
RBC Bearings completes $275M acquisition of VACCO Industries; draws $200M from revolver
Subsidiary Roller Bearing Company of America drew $200M on $500M revolver to partially fund the all-cash $275M purchase.
RBC Bearings to acquire VACCO Industries from ESCO Technologies for $310M cash
Acquisition of VACCO for $310M in cash; deal expected to close summer 2025.
RBC Bearings Q4 net sales $437.7M (+5.8%); adj EPS $2.83 vs $2.47; guides Q1 sales $424-434M
Q4 net sales $437.7M, up 5.8% YoY; Aerospace/Defense +10.6%, Industrial +3.3%.
RBC Bearings Q3 FY2025: net sales $394.4M (+5.5%), diluted EPS $1.82 vs $1.39
Net sales increased 5.5% to $394.4 million; Aerospace/Defense segment up 10.7% and Industrial up 2.7%.
RBC Bearings Q2 FY2025 sales $397.9M (+3.2%), adj. EPS $2.29 (+5.1%)
Aerospace/Defense sales +12.5% YoY; Industrial -1.4% YoY.
RBC Bearings converts Series A Preferred Stock to common; saves $23M/year in dividends
Each Preferred share converted into 0.4413 common shares at minimum conversion rate of $226.63 (VWAP average $292.55).
RBC Bearings elects Frederick J. Elmy to board of directors
Frederick J. Elmy elected as Class III director to fill vacancy, term until 2025 annual meeting.
RBC Bearings amends charter to eliminate officer liability for fiduciary duty breaches
Stockholders approved amendment with 79.1% of outstanding shares voted in favor (66.7% required).
RBC Bearings shareholders approve all four proposals at 2024 annual meeting
All three Class II director nominees elected: Crowell, Faghri, Kaplan; Kaplan received 16.5M for, 11.2M against.
RBC Bearings Q1 FY2025 adj. EPS $2.54 (+19.2% YoY); Aero/Def sales +23.7%
Net sales $406.3M (+5.0% YoY); Aerospace/Defense up 23.7%, Industrial down 3.5%.
RBC Bearings amends CEO/COO employment agreements; Hartnett base salary $1.5M, Bergeron $672,525
CEO Michael Hartnett new base salary $1.5M/year retroactive to March 31, 2024; COO Daniel Bergeron $672,525.
RBC Bearings Q4 sales $413.7M (+4.9% YoY); adj. EPS $2.47 vs $2.13; guides Q1 $415-420M
Q4 GAAP diluted EPS $1.91, adjusted EPS $2.47 (+16%); full year adj. EPS $8.62 vs $7.48.
RBC Bearings Q3 sales $373.9M (+6.3% YoY); Aero/Def up 22.5%, adj. EPS $1.85
GAAP diluted EPS $1.39, adjusted diluted EPS $1.85, vs $1.05 and $1.64 a year ago.
RBC Bearings Q2 FY2024 net sales $385.6M (+4.4% YoY); adjusted EPS $2.17 vs $1.93
Net sales $385.6M (+4.4% YoY); Aerospace/Defense up 22.9%, Industrial down 2.8%.
RBC Bearings VP & GM Patrick Bannon to retire Dec 31, 2023 after 30+ years
Patrick S. Bannon, VP and General Manager and named executive officer, announced retirement effective December 31, 2023.
Dr. Michael J. Hartnett re-elected with 26.5M For (96.9% of votes cast excluding broker non-votes).
RBC Bearings acquires Specline, Inc. for $18.7M
Acquired Specline, a precision bearing maker for commercial and defense aerospace, for $18.7M cash.
RBC Bearings Q1 net sales $387M (+9.3%); GAAP EPS $1.52, adjusted $2.13
Net sales $387.1M, +9.3% YoY; Aerospace/Defense +21.2%, Industrial +4.7%.
RBC Bearings Q4 net sales up 9.9% to $394.4M; adjusted EPS $2.13 vs $1.93 YoY
GAAP diluted EPS $1.49, adjusted diluted EPS $2.13; net income $49.2M vs $31.5M YoY.
RBC Bearings Q3 fiscal 2023 net sales $351.6M (+31.7% YoY); adjusted EPS $1.64 vs $1.20
Adjusted diluted EPS $1.64 vs $1.20 last year; GAAP diluted EPS $1.05 vs loss $0.18.
RBC Bearings amends credit agreements to replace LIBOR with SOFR benchmark
First Amendment to Credit Agreement dated Dec 5, 2022 transitions $500M revolver and $1.3B term loan from LIBOR to SOFR.
RBC Bearings Q2 fiscal 2023 revenue up 129% to $369.2M; adjusted EPS $1.93 vs $1.16
GAAP diluted EPS $1.31, adjusted diluted EPS $1.93; net income $43.8M vs net loss $1.4M YoY.
RBC Bearings declares $1.25/shr preferred dividend payable Oct 15
Dividend of $1.25 per share declared on 5.00% Series A Mandatory Convertible Preferred Stock.
RBC Bearings to voluntarily transfer listing from Nasdaq to NYSE, tickers to RBC/RBCP
Common and Series A Preferred Stock will begin trading on NYSE on Sept 26, 2022.
RBC Bearings shareholders reject advisory say-on-pay; all three director nominees elected
Say-on-pay vote: 8,831,362 for, 18,434,020 against (majority against).
RBC Bearings changes adjusted EPS presentation; furnishes historical reconciliations
Company will change presentation of non-GAAP adjusted EPS in future releases for comparability.
Q1 net sales $354.1M (+126.7% YoY); GAAP EPS $1.09, adj. EPS $1.19.
RBC Bearings declares $1.25/share preferred dividend; payable July 15
Dividend on 5.00% Series A Mandatory Convertible Preferred Stock: $1.25 per share.
RBC Bearings CEO and COO forgo $10.85M and $5.03M in compensation under new equity program
CEO Hartnett and COO Bergeron each waived previously earned equity awards worth $16.8M and $7.37M, receiving restricted stock worth $5.99M and $2.34M.
RBC Bearings Q4 net sales $358.9M (+123.9% YoY); adj. EPS $1.26; Q1 outlook $355-365M
Q4 adj. diluted EPS $1.26 vs $1.08 prior year; GAAP diluted EPS $0.92 vs $0.99.
RBC Bearings elects Dr. Amir Faghri to Board of Directors
Dr. Amir Faghri elected as Class II director effective May 17, 2022, term until 2024 annual meeting.
RBC Bearings Board member Alan B. Levine retires; Edward D. Stewart named Audit Committee Chairman
Alan B. Levine retired from the Board effective May 13, 2022.
RBC Bearings declares $1.25/share preferred dividend; $5.75M total, payable April 15
Dividend of $1.25 per share on 5.00% Series A Mandatory Convertible Preferred Stock.
RBC Bearings Q3 revenue $267M (+83% YoY); adj. EPS $0.70, Q4 guidance $340-350M
Net sales $267.0M, up 83% YoY; organic growth 7.6%. Industrial segment +230.4%, Aerospace/Defense flat.
RBC Bearings declares $1.5417/share preferred dividend payable Jan 15, 2022
Dividend of $1.5417 per share on 5.00% Series A Mandatory Convertible Preferred Stock.
RBC Bearings Q2 net sales $160.9M (+10%); completed $2.9B Dodge acquisition; Q3 outlook $245-255M
Diluted EPS GAAP $0.25 vs $0.82 YoY; adjusted EPS $0.89 vs $0.93 YoY.
RBC Bearings completes acquisition of ABB's Dodge mechanical power transmission division
Acquired ABB's mechanical power transmission division (Dodge brand) on Nov 1, 2021 for an undisclosed cash purchase price.
RBC Bearings issues $500M 4.375% senior notes due 2029 to fund Dodge acquisition
Issued $500M 4.375% senior notes due 2029; proceeds escrowed pending ABB's Dodge MPT acquisition.
Issued 4.6M shares of 5.00% Series A Mandatory Convertible Preferred Stock at $100 liquidation preference, raising $460M.
RBC Bearings files Dodge financials: 2020 rev $550M, net income $67.6M for pending acquisition
Dodge 2020 revenue $549.9M, net income $67.6M; 2019 revenue $612.4M, net income $77.0M.
RBC Bearings shareholders reject say-on-pay, two director nominees fail to get majority support
Say-on-pay resolution rejected: 17,695,037 against vs 6,064,180 for.
On October 1, 2024, the Board of Directors of RBC Bearings Incorporated (the "Company") elected Frederick J. Elmy a director of the Company to fill a vacancy on the Board
On September 18, 2023, Patick S. Bannon, Vice President and General Manager of RBC Bearings Incorporated and one of its named executive officers for SEC purposes, announced his intent to retire from RBC effective December 31, 2023, ending over 30 years of service with RBC.
On May 17, 2022, the Board of Directors (the “Board”) of RBC Bearings, Inc. (the “Company”) elected Dr. Amir Faghri as a director of the Company.
Alan B Levine retired from the Board of Directors (the “Board”) of RBC Bearings, Inc. (the “Company”) effective May 13, 2022.
Max materiality 0.90 · Median 0.68 · Most common event earnings