RBC Bearings Incorporated (RBC) Q1 2027 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and thank you for joining us for RBC Bearings' fiscal first quarter 2027 earnings call. I'm Josh Carroll with the Investor Relations Team. With me on today's call are Dr. 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. As a reminder, some of the statements made today may be forward-looking and 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's 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 listed in the press release, along with the reconciliation between GAAP and non-GAAP financial information. With all that said, I'll now turn the call over to Dr. Hartnett. Thank you, Josh. Good morning and thank you for joining us. I'll begin today's call with a brief review of our first quarter results and discuss the trends we are seeing across the end markets before turning the call over to Rob, who will provide additional details on our financial performance. We delivered a strong start to fiscal 2027 with first quarter net sales increasing 19.2% and the Board of Directors of the Board of Directors. compared to $2.84 in the prior year's period. Adjusted EBITDA rose 28.1% to $181.2 million up from $141.5 million last year. Free cash flow remained a strong $146.9 million and we eliminated $77 million of debt during the first quarter. Turning now to our two business segments, approximately 57% of our revenue during the quarter came from the industrial segment...