RBC Bearings Incorporated (NYSE:RBC) Q1 2025 Earnings Conference Call August 2, 2024 11:00 AM ET

Company Participants

Rob Moffatt - Director of IR
Michael Hartnett - Chairman, President and CEO
Robert Sullivan - VP and CFO

Conference Call Participants

Kristine Liwag - Morgan Stanley
Michael Ciarmoli - Truist Securities
Peter Skibitski - Alembic Global
Jordan Lyonnais - Bank of America
Steve Barger - KeyBanc Capital Markets
Vivek Srivastav - Goldman Sachs
Tim Thein - Raymond James

Operator

Greetings, and welcome to RBC Bearings Fiscal 2025 First Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Rob Moffatt, the Director of Investor Relations. Please go ahead.

Rob Moffatt

Good morning, and thank you for joining us for RBC Bearings fiscal first quarter 2025 earnings call. I'm Rob Moffatt, Director of Investor Relations. And with me on the call today are Dr. Michael 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.

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.

With that, I'll now turn the call over to Dr. Hartnett.

Michael Hartnett

Thank you, Rob, and good morning to everyone, and thanks for joining us. I'm going to start today's call with a quick review of our quarter and fiscal year and hand it over to Rob for some detailed color on the numbers. And then I'll finish with some high-level thoughts on the industry, RBC's positioning, and some -- and our fiscal '25 outlook.

First quarter sales came in at $406.3 million, a 5% increase over last year. Strong performance from our Aerospace and Defense sector, showed a 23.7% expansion, where our Industrial business contracted slightly at 3.5%.