Why Is RBC Bearings Stock Trading Higher Today?
Portfolio Pulse from Lekha Gupta
RBC Bearings (NYSE:RBC) shares are trading higher after reporting strong Q4 FY24 results, with net sales up 4.9% Y/Y to $413.7 million, beating expectations. Aerospace/Defense revenue grew 16.8% Y/Y, while Industrial revenue slightly declined. Adjusted EPS increased 16.0% Y/Y to $2.47, surpassing estimates. The company expects strong performance in Q1 FY25 with net sales forecasted between $415.0 million and $420.0 million. Investors can also gain exposure through ETFs like AIRR and NBSM.

May 17, 2024 | 1:51 pm
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POSITIVE IMPACT
First Trust RBA American Industrial Renaissance ETF (NASDAQ:AIRR) may see positive movement as RBC Bearings, a component of the ETF, reported strong Q4 FY24 results and a positive outlook for Q1 FY25.
As RBC Bearings is a component of AIRR, the strong performance and positive outlook of RBC Bearings are likely to have a positive impact on the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Neuberger Berman Small-Mid Cap ETF (NYSE:NBSM) may see positive movement as RBC Bearings, a component of the ETF, reported strong Q4 FY24 results and a positive outlook for Q1 FY25.
As RBC Bearings is a component of NBSM, the strong performance and positive outlook of RBC Bearings are likely to have a positive impact on the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
RBC Bearings reported strong Q4 FY24 results, with net sales up 4.9% Y/Y to $413.7 million, beating expectations. Adjusted EPS increased 16.0% Y/Y to $2.47, surpassing estimates. The company expects strong performance in Q1 FY25 with net sales forecasted between $415.0 million and $420.0 million.
The strong Q4 results, including beating sales and EPS estimates, and positive outlook for Q1 FY25 are likely to drive RBC's stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100