RBC Bearings Named to Fortune® 100 Fastest-Growing Companies List for 2024
RBC Bearings Incorporated (NYSE:RBC), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, today announced that it has been named to the Fortune® 100 Fastest-Growing Companies list for 2024.
RBC Bearings placed 96th on the list, which ranks companies based on growth in revenue, profits, and stock returns.
"We are honored to be included in Fortune's prestigious list of the fastest growing publicly traded companies," said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. "In the last 20 years, RBC has grown its annual revenue over 700%, reaching over $1.5 billion in fiscal 2024. This was achieved through a combination of attracting and developing the most talented employees coupled with an incessant focus on continuous improvement and being the best in the world at making our products. Using this same formula for success going forward, I see a long runway for continued growth in the future."
To join our rapidly growing team, view career opportunities at rbcbearings.com/career-opportunities.
To learn more about Fortune's 2024 100 Fastest-Growing Companies list, visit fortune.com/100-fastest-growing-companies/2024. All registered trademarks are property of their respective owners.
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings, components and essential systems. The Company is primarily focused on producing highly technical or regulated bearing products and components requiring sophisticated design, testing, and manufacturing capabilities for the diversified industrial, aerospace, and defense markets. The Company is headquartered in Oxford, Connecticut.
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Certain statements in this press release contain "forward-looking statements." All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including the following: the section of this press release entitled "Outlook"; any projections of earnings, revenue or other financial items relating to the Company, any statement of the plans, strategies and objectives of management for future operations; any statements concerning proposed future growth rates in the markets we serve; any statements of belief; any characterization of and the Company's ability to control contingent liabilities; anticipated trends in the Company's businesses; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words "may," "would," "estimate," "intend," "continue," "believe," "expect," "anticipate," and other similar words. Although the Company believes that the expectations reflected in any forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties beyond the control of the Company. These risks and uncertainties include, but are not limited to, risks and uncertainties relating to general economic conditions, geopolitical factors, future levels of aerospace/defense and industrial market activity, future financial performance, our use of information technology systems, our disclosure controls and procedures and internal control over financial reporting, our debt level, our level of goodwill, market acceptance of new or enhanced versions of the Company's products, the pricing of raw materials, changes in the competitive environments in which the Company's businesses operate, increases in interest rates, the Company's ability to acquire and integrate complementary businesses, and risks and uncertainties listed or disclosed in our reports filed with the Securities and Exchange Commission, including, without limitation, the risks identified under the heading "Risk Factors" set forth in the Company's most recent Annual Report on Form 10-K filed with the SEC. The Company does not intend, and undertakes no obligation, to update or alter any forward-looking statements.
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