RBC - Delivers Strong Close to FY26; Defense, Missiles, and Space Drive Upside

研报英文原文证据摘录

RBC - Delivers Strong Close to FY26; Defense, Missiles, and Space Drive Upside

Truist Securities

Equity Research Report May 18, 2026

INDUSTRIALS: Diversified RBC Bearings Incorporated (RBC)

RBC - Delivers Strong Close to FY26; Defense, Missiles, andAlexandra Mandery

212-319-3461 Space Drive Upside

Alexandra.Mandery@truist.com

We reiterate our BUY rating and raise our PT to $615 (from $599) post F4Q26. Results

beat on rev, EBITDA and EPS, while margins continue to expand. Backlog reached another

Stock Rating BUY high of $2.3B which exceeded mgmt's $2B FY26 target. We believe demand for defense

Unchanged including maritime and missiles coupled with increased aerospace OEM production rates/

Price Target pricing benefits create a strong pipeline for RBC. $615.00

↑

from F4Q26 Takeaways:

$599.00

Industrial end-market update. Management saw strength in end-markets including

aggregates, warehousing, food and beverage, grain, and semiconductors, contributing

to a segment that represented 57% of total revenue. Notably, the aggregate business

TR to Target 11.6% experienced 17% to 20% growth, which mgmt attributed to a large infrastructure build-out

Price (May 18, 2026) $551.12 for AI and server farms across North America. While the semiconductor vertical was steady,

52-Wk Range $623.19-$359.77 it is expected to become a more significant contributor in FY 2027 as demand for robotic

Market Cap ($M) $17,085 components in chip manufacturing accelerates.

ADTV 141,054 A&D driven by submarines, space, and missiles. Segment revenue surged 41.2% year-

Shares Out (M) 31 over-year, headlined by missile-related revenue exceeding $45 million for the fiscal year

Short Interest Ratio/% Of Float 1.2% and a space business that reached over $70 million, up from $4 million in 2021. Growth