RBC Bearings Q1 FY2027 Earnings Call
With Michael Hartnett (Chairman, President, and CEO) and Rob Sullivan (VP and CFO).
RBC Bearings is a well known international manufacturer and marketer of highly engineered precision plain, roller and ball bearings.
More about RBC Bearings
While we manufacture products in all major bearing categories, our focus is primarily on highly technical or regulated bearing products for specialized markets that require sophisticated design, testing and manufacturing capabilities. Our unique expertise has enabled us to garner leading positions in many of the product markets in which we primarily compete. RBC Bearings provides our global industrial, aerospace, and defense customers with unique design solutions to complex problems and an unparalleled level of service, quality, and support.
1Prepared remarks3 speakers
Good morning, thank you for joining us for RBC Bearings' fiscal first quarter 2027 earnings call. I'm Josh Carroll with the Investor Relations team. With me on today's call are Dr. Hartnett, Chairman, President, and Chief Executive Officer, Daniel Bergeron, Director, Vice President, and Chief Operating Officer, and Rob Sullivan, Vice President and Chief Financial Officer. As a reminder, some of the statements made today may be forward-looking under the Private Securities Litigation Reform Act of 1995. Actual…
Thank you, Josh. Good morning, thank you for joining us. I'll begin today's call with a brief review of our first quarter results and discuss the trends we are seeing across the end markets before turning the call over to Rob, who will provide additional details on our financial performance. We delivered a strong start to fiscal 2027, with first quarter net sales increasing 19.2% year-over-year to $519.5 million. This was driven by exceptional demand in our Aerospace & Defense business, followed by strong growth…
Thank you, Mike. We started off fiscal 2027 with a strong first quarter that exceeded our expectations, with net sales growing 19.2%, which led to a 26.9% increase in our reported gross margin. Gross margins were 47.7% for the quarter, compared to 45.4% on an adjusted basis for the same period last year. The gross margins this quarter reflect the benefits of increased volumes running through our production facilities, driving operating efficiencies, favorable mix, and the benefit of contract resolutions realized…