RBC Bearings Files 2024 Annual 10-K Report

TL;DR

RBC Bearings filed its 2024 10-K. All good.

AI Summary

RBC Bearings Inc. filed its annual 10-K report for the fiscal year ended March 30, 2024. The company, headquartered at One Tribology Center in Oxford, CT, operates in the ball and roller bearings industry. The filing covers their performance and financial standing for the reported period.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of RBC Bearings' financial health, operational performance, and strategic outlook for the fiscal year ending March 30, 2024.

Risk Assessment

Risk Level: low — This is a standard annual financial filing with no immediate red flags.

Key Numbers

• 2024 — Fiscal Year (The report covers the fiscal year ending March 30, 2024.)
• 001-40840 — SEC File Number (Identifies the specific filing with the SEC.)

Key Players & Entities

• RBC Bearings INC (company) — Registrant
• March 30, 2024 (date) — Fiscal year end
• One Tribology Center, Oxford, CT 06478 (location) — Principal executive offices
• 001-40840 (other) — Commission file number
• 95-4372080 (other) — IRS Employer Identification No.

FAQ

Key Financial Figures

• $0.01 — ch Registered Common Stock, par value $0.01 per share RBC The New York Stock Ex
• $234.13 — ptember 29, 2023 closing sales price of $234.13 of the registrant's Common Stock, as re

Filing Documents

• ea0205268-10k_rbcbear.htm (10-K) — 1627KB
• ea020526801ex19_rbcbear.htm (EX-19) — 67KB
• ea020526801ex21_rbcbear.htm (EX-21) — 6KB
• ea020526801ex23_rbcbear.htm (EX-23) — 4KB
• ea020526801ex31-1_rbcbear.htm (EX-31.1) — 10KB
• ea020526801ex31-2_rbcbear.htm (EX-31.2) — 10KB
• ea020526801ex32-1_rbcbear.htm (EX-32.1) — 6KB
• ea020526801ex32-2_rbcbear.htm (EX-32.2) — 4KB
• ea020526801ex97_rbcbear.htm (EX-97.) — 26KB
• image_001.jpg (GRAPHIC) — 27KB
• 0001213900-24-044761.txt ( ) — 9854KB
• rbc-20240330.xsd (EX-101.SCH) — 97KB
• rbc-20240330_cal.xml (EX-101.CAL) — 86KB
• rbc-20240330_def.xml (EX-101.DEF) — 464KB
• rbc-20240330_lab.xml (EX-101.LAB) — 877KB
• rbc-20240330_pre.xml (EX-101.PRE) — 469KB
• ea0205268-10k_rbcbear_htm.xml (XML) — 1226KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 8 Item 1B Unresolved Staff Comments 16 Item 1C Cybersecurity 16 Item 2

Properties

Properties 17 Item 3

Legal Proceedings

Legal Proceedings 17 Item 4 Mine Safety Disclosures 17 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 18 Item 6 [Reserved] 20 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 33 Item 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 66 Item 9A

Controls and Procedures

Controls and Procedures 66 Item 9B Other Information 68 Item 9C Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 68 PART III Item 10 Directors, Executive Officers and Corporate Governance Item 11

Executive Compensation

Executive Compensation Item 12

Security Ownership

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters Item 13 Certain Relationships, Related Transactions and Director Independence Item 14 Principal Accounting Fees and Services PART IV Item 15 Exhibits and Financial Statement Schedules 70

Signatures

Signatures 73 i PART I ITEM 1. BUSINESS RBC Bearings Incorporated RBC Bearings Incorporated, together with its subsidiaries, is an international manufacturer and marketer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries. Our precision solutions are integral to the manufacture and operation of most machines and mechanical systems, to reduce wear to moving parts, facilitate proper power transmission, reduce damage and energy loss caused by friction, and control pressure and flow. The terms "we," "us," "our," "RBC" and the "Company" mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning. While we manufacture products in all major categories, we focus primarily on the higher end of the bearing, gearing and engineered component markets where we believe our value-added engineering and manufacturing capabilities, and application expertise enable us to differentiate ourselves from our competitors and enhance profitability. We believe our expertise has enabled us to garner leading positions in many of the product markets in which we primarily compete. With 54 facilities in 11 countries, of which 38 are manufacturing facilities, we have been able to significantly broaden our end markets, products, customer base and geographic reach. All quantitative data contained in this Annual Report on Form 10-K (the "Annual Report") is stated in millions, except for share and per-share data, number of facilities and their locations, square footage, and headcount. The Bearing, Gearing and Engineered Component Industry The bearing, gearing and engineered component industry is a fragmented multi-billion-dollar market. Purchasers of bearings, gearings and engineered components include producers of commercial and military aircraft, submarine and vehicle equipment, energy equipment, machinery manufacturers, industrial equipment and machinery manufacturers, cons

View Full Filing

View this 10-K filing on SEC EDGAR