RBC Bearings Acquires PSC Couplings for $24.2 Million Amid Strong Financial Performance
On August 10, RBC Bearings (NYSE:RBC) announced the acquisition of Wisconsin-based PSC Couplings LLC in a cash deal valued at $24.2 million. The purchase is considered a bolt-on as PSC generated approximately $15.1 million in sales over the past year. The move follows strong financial results reported on July 31, where RBC Bearings saw net sales rise by 19.2% to $519.5 million, driven largely by growth in its Aerospace & Defense segment and a recent acquisition of VACCO. The company also improved gross margins from 44.8% to 47.7%, with diluted EPS reaching $3.20 compared to $2.17 the previous year. Despite these gains, RBC has tempered guidance for its next quarter, projecting a slower sales growth rate and slightly lower gross margin expectations than previously reported. The company's backlog remained flat at $2.3 billion during this period.
Tickers: $RBC