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RBC Bearings Incorporated (RBC) - free report >>
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RBC Bearings Incorporated (RBC) - free report >>
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RBC Bearings (RBC) Acquires Specline, Boosts Aerospace Unit
RBC Bearings (RBC - Free Report) has acquired the business assets of Specline, Inc., a precision bearings manufacturer catering to the commercial and defense aerospace markets. The transaction was valued at $18.7 million.
Headquartered in Carson City, NV, Specline produces standard and custom configuration precision spherical bearings, rod ends and journal bearings. In the last 12 months, the company generated net sales of approximately $8.4 million.
Specline’s unique bearing and manufacturing processes expand RBC Bearings’ aerospace product offerings and boost its production capacity.
RBC Bearings Incorporated Price
RBC Bearings Incorporated price | RBC Bearings Incorporated Quote
RBC is benefiting from continued recovery in the commercial aerospace market owing to higher build rates and orders in the original equipment manufacturer (OEM) markets and the aftermarket. Higher aerospace and marine sales are driving the company’s revenues at the defense sub-segment. Overall, RBC’s Aerospace/Defense segment generated revenues of $120.5 million (up 21.2% year over year) in the first quarter of fiscal 2024 (ended Jul 1, 2023).
RBC Bearings anticipates continued recovery in the commercial aerospace industry and higher defense orders to drive its margins.
Zacks Rank & Other Stocks to Consider
RBC Bearings sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks within the Industrial Sector are as follows:
Graham Corporation (GHM - Free Report) flaunts a Zacks Rank #1. The company pulled off a trailing four-quarter earnings surprise of 243.1%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Graham has an estimated earnings growth rate of 400% for the current fiscal year. The stock has rallied 68.9% so far this year.
Flowserve Corporation (FLS - Free Report) is also a #1 Ranked player. The company delivered a trailing four-quarter earnings surprise of 6.2%, on average.
Flowserve has an estimated earnings growth rate of 79.1% for the current year. The stock has jumped 23.1% so far this year.