RBC Bearings Incorporated (ROLL) Q4 2022 Earnings Conference Call May 26, 2022 11:00 AM ET
Company Representatives
Dr. Michael Hartnett - Chairman, President, Chief Executive Officer
Daniel Bergeron - Director, Vice President, Chief Operating Officer
Robert Sullivan - Vice President, Chief Financial Officer
Josh Carroll - Investor Relations
Conference Call Participants
Kristine Liwag - Morgan Stanley
Pete Skibitski - Alembic Global
Joe Ritchie - Goldman Sachs
Steve Barger - KeyBanc Capital
Larry Stavitski - Wells Fargo
Elizabeth Grenfell - Bank of America
Michael Ciarmoli - Truist
Operator
Good day! And thank you for standing by. Welcome to the RBC Bearings, Fourth Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers’ presentation there will be a question-and-answer session. [Operator Instructions]. Please be advised that today’s conference is being recorded.
I would now like to hand the conference over to your speaker today, Josh Carroll, Investor Relations. Please go ahead.
Josh Carroll
Good morning! And thank you for joining us for RBC Bearings fiscal 2022, fourth quarter and full year earnings conference call. With me on the call is Dr. Michael Hartnett, Chairman, President and Chief Executive Officer; Daniel Bergeron, Director, Vice President and Chief Operating Officer; and Robert Sullivan, Vice President and Chief Financial Officer.
Before beginning today’s call, let me remind you that some of the statements made today will be forward-looking and are made under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected or implied due to a variety of factors. We refer you to RBC Bearings recent filings with the SEC for a more detailed discussion of the risks that could impact the company’s future operating results and financial condition.
These factors are also described in greater detail in the press release and on the company’s website. In addition, reconciliation between GAAP and non-GAAP financial information is included as part of the release and is available on the company’s website.
Now, I’ll turn the call over to Dr. Hartnett.
Dr. Michael Hartnett
Okay, thank you Josh, and good morning and welcome. I’ll present the highlights of our fourth quarter and following me Rob and Dan will discuss some of the details of this summary.
RBC Bearings net sales for the third quarter of fiscal 2022 – for the fourth quarter of 2022 were $358.9 million versus $160.3 million for the same period last year, an increase of 123.9%. For the fourth fiscal quarter of 2022 sales of industrial products represented 71% of our net sales and aerospace products represented 29% of revenues.