As we continue through the current quarter earnings reporting period, here's a look at the top facts and figures out of several well-known industrial manufacturers:
RBC Bearings
Oxford, CT-based RBC Bearings reported its 2017 first quarter fiscal performance Thursday, led by an 8.6 percent year-over-year sales gain.
The company posted Q1 sales of $154.6 million, compared to $142.3 million a year earlier. Operating profit of $29.2 million jumped 30.7 percent, while total profit declined 2.1 percent to $18 million.
Q1 industrial sales increased 3.1 percent year-over-year, driven mainly by the marine market and offset by energy. Aerospace sales increased 11.8 percent, driven primarily by commercial aircraft OEM and aftermarket, partially offset by defense.
By business segment in Q1:
- Plain bearings sales of $70.5 million (45.6 percent of total) grew 7.3 percent year-over-year
- Roller bearings sales of $27.8 million (18.0 percent of total) declined 9.0 percent
- Ball bearings sales of $13.7 million (8.9 percent of total) grew 6.9 percent
- Engineered products sales of $42.6 million (27.5 percent of total) grew 2.1 percent
"Continued strength in the aerospace sector in both commercial OEM and aftermarket activity was aided by another quarter of growth in industrial sales," said RBC chairman and CEO Michael Hartnett. "We continue to be pleased with our healthy backlog and opportunities for organic growth."
NN Inc.
Johnson City, TN-based bearings and industrial components maker NN Inc. posted its 2016 Q2 fiscals on Thursday, led by considerable sales and operating profit increases helped by the company's 2015 acquisition of Precision Engineered Products (PEP).
The company posted Q2 total sales of $214.3 million, up 30 percent year-over-year. Acquisitions added $57.8 million in sales, while legacy sales were negatively impacted $8.4 million from weakness in the industrial end market. Operating profit of $16.7 million increased 22.9 percent, while total profit of $2.03 million compared with $6.95 million a year earlier.
By business segment in Q2:
- Autocam Precision Components sales of $83.0 million were down 4.0 percent year-over-year. Adjusted operating profit increased 7 percent.
- Precision Bearings sales of $65.2 million were down 5.9 percent. Adjusted operating profit declined 13.7 percent.
- Precision Engineered Products sales were $66.1 million, compared to $9.1 million a year earlier.
Allied Motion
Amherst, NY-based Allied Motion — a designer and manufacturer of motion control products — reported its 2016 second quarter fiscal performance Thursday, led by a healthy year-over-year sales gain.
The company posted Q2 sales of $65.8 million, up 8.9 percent over a year earlier. The gain was helped by the company's January acquisition of Germany-based Heidrive GmbH. Operating income of $6.0 million was up 4 percent, while total profit of $2.9 million declined 5.9 percent.
Sequentially, Q2 sales were up 1.7 percent from Q1, while total profit was up 38.1 percent.
Allied Motion said that strong Q2 sales in most markets helped to offset weaker sales in its vehicle market. Sales to U.S. customers comprised 55 percent of the total, compared with 64 percent a year earlier.
"We are seeing traction with our efforts in new projects, with some moving into production this year and others planned for 2017 and beyond," said company chairman and CEO Dick Warzala. "In the meantime, our attention is on executing our strategy in what appears to be a continuing slow growth economic environment."
