UNITED ~~STATES~~ ~~SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549~~STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~September~~December 27, 2025

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to .

Commission File Number: 001-40840

RBC BEARINGS INCORPORATED
(Exact name of registrant as specified in its charter)

Delaware		95-4372080
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
One Tribology Center Oxford, CT		06478
(Address of principal executive offices)		(Zip Code)

One Tribology Center Oxford, CT		06478
(Address of principal executive offices)		(Zip Code)

(203) 267-7001
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol		Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per-share		RBC		The New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically, if any, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of ~~October~~January 2430, ~~2025~~2026, RBC Bearings Incorporated had 31,~~611~~618,~~442~~961 shares of Common Stock outstanding.

TABLE OF CONTENTS

Part I -	FINANCIAL INFORMATION	1
Item 1.	Consolidated Financial Statements	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	2122
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	3637
Item 4.	Controls and Procedures	3638
Part II -	OTHER INFORMATION	3739
Item 1.	Legal Proceedings	3739
Item 1A.	Risk Factors	3739
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	3739
Item 3.	Defaults Upon Senior Securities	3740
Item 4.	Mine Safety Disclosures	3740
Item 5.	Other Information	3740
Item 6.	Exhibits	3840

Part I. FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

RBC Bearings Incorporated

Consolidated Balance Sheets

(dollars in millions, except per share data)

	September 27, 2025			March 29, 2025
	December 27, 2025			March 29, 2025
ASSETS	(Unaudited)
Current assets:
Cash	$	91107.26		$	36.8
Accounts receivable, net of allowance for credit losses of $5.5 at September 27, 2025 and $5.4 at March 29, 2025		279.2			307.6
Accounts receivable, net of allowance for credit losses of $5.8 at December 27, 2025 and $5.4 at March 29, 2025		285.8			307.6
Inventory		~~768~~781.75			654.5
Prepaid expenses and other current assets		5445.29			28.4
Total current assets		1,~~193~~220.38			1,027.3
Property, plant and equipment, net		~~407~~416.67			359.0
Operating lease assets		5759.20			58.6
Goodwill		1,~~985~~987.27			1,872.2
Intangible assets, net		1,~~414~~395.39			1,325.1
Other noncurrent assets		5361.25			43.0
Total assets	$	5,~~110~~141.86		$	4,685.2
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	~~144~~141.17		$	138.4
Accrued expenses and other current liabilities		~~220~~216.13			166.0
Current operating lease liabilities		9.18			9.2
Current portion of long-term debt		1288.86			1.7
Total current liabilities		~~375~~656.14			315.3
Long-term debt, less current portion		~~1,069~~701.36			918.4
Noncurrent operating lease liabilities		4849.89			50.3
Deferred income taxes		~~266~~270.21			257.8
Other noncurrent liabilities		~~164~~202.25			112.0
Total liabilities		1,~~923~~880.65			1,653.8
Stockholders’ equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 at September 27, 2025 and March 29, 2025, respectively; issued shares: 0 at September 27, 2025 and March 29, 2025, respectively		—			—
Preferred stock, $.01 par value; authorized shares: 10,000,000 at December 27, 2025 and March 29, 2025, respectively; issued shares: 0 at December 27, 2025 and March 29, 2025, respectively		—			—
Common stock, $.01 par value; authorized shares: 60,000,000 at September 27, 2025 and March 29, 2025, respectively; issued shares: 32,693,506 and 32,522,189 at September 27, 2025 and March 29, 2025, respectively		0.3			0.3
Common stock, $.01 par value; authorized shares: 60,000,000 at December 27, 2025 and March 29, 2025, respectively; issued shares: 32,701,233 and 32,522,189 at December 27, 2025 and March 29, 2025, respectively		0.3			0.3
Additional paid-in capital		1,~~715~~720.89			1,682.5
Accumulated other comprehensive income/(loss)		57.32			(1.4	)
Retained earnings		1,~~579~~646.15			1,450.6
Treasury stock, at cost; 1,081,252 shares and 1,046,569 shares at September 27, 2025 and March 29, 2025, respectively		(113.3	)		(100.6	)
Treasury stock, at cost; 1,082,526 shares and 1,046,569 shares at December 27, 2025 and March 29, 2025, respectively		(113.8	)		(100.6	)
Total stockholders’ equity		3,~~187~~261.21			3,031.4
Total liabilities and stockholders’ equity	$	5,~~110~~141.86		$	4,685.2

See accompanying notes.

RBC Bearings Incorporated

Consolidated Statements of Operations

(dollars in millions, except per share data)

(Unaudited)

	Three Months Ended					~~Six~~Nine Months Ended
	September 27, 2025		September 28, 2024			September 27, 2025		September 28, 2024
	December 27, 2025		December 28, 2024			December 27, 2025		December 28, 2024
Net sales	$	~~455~~461.36	$	~~397~~394.94		$	~~891~~1,352.39	$	~~804~~1,198.26
Cost of sales		~~254~~257.72		~~224~~219.15			~~495~~752.57		~~446~~665.49
Gross margin		~~200~~204.64		~~173~~174.89			~~395~~600.82		~~357~~532.87
Operating expenses:
Selling, general and administrative		77.49		6970.51			~~151~~229.32		~~137~~207.12
Other, net		2523.45		1819.2			4569.61		3756.13
Total operating expenses		~~102~~101.84		8789.73			~~196~~298.93		~~174~~263.25
Operating income		97103.80		8685.16			~~198~~301.9		~~183~~269.62
Interest expense, net		13.40		1514.62			2538.6		3247.80
Other non-operating expense		1.0		1.1			2.2		1.5
Other non-operating (income)/expense		0.7		(3.3	)		2.9		(1.8	)
Income before income taxes		8389.43		6974.47			~~171~~260.14		~~149~~224.30
Provision for income taxes		2321.49		1516.28			4264.65		3350.75
Net income		6067.04		5457.29			~~128~~195.59		~~115~~173.65
Preferred stock dividends		—		51.70			—		1112.4
Net income attributable to common stockholders	$	6067.04	$	4856.59		$	~~128~~195.59	$	~~104~~161.21
Net income per common share attributable to common stockholders:
Basic	$	12.9014	$	1.6783		$	46.0923	$	35.5842
Diluted	$	12.9013	$	1.6582		$	46.0720	$	35.5538
Weighted average common shares:
Basic		31,~~493~~522,~~205~~574		2931,~~124~~041,~~564~~126			31,~~434~~463,~~032~~546		29,~~089~~740,~~692~~170
Diluted		31,~~615~~644,~~328~~592		2931,~~336~~222,~~466~~623			31,~~585~~606,~~721~~334		29,~~316~~953,~~493~~883

See accompanying notes.

RBC Bearings Incorporated

Consolidated Statements of Comprehensive Income/(Loss)

(dollars in millions)

(Unaudited)

	Three Months Ended						~~Six~~Nine Months Ended
	September 27, 2025			September 28, 2024			September 27, 2025			September 28, 2024
	December 27, 2025			December 28, 2024			December 27, 2025			December 28, 2024
Net income	$	6067.04		$	5457.29		$	~~128~~195.59		$	~~115~~173.65
Pension and postretirement liability adjustments, net of taxes (1)		0.40			0.63			0.7			0.69
Change in fair value of Interest Rate Swap (2)		0.02			(10.83	)		0.13			(1.96	)
Change in fair value of Cross Currency Swap (3)		(0.04	)		(2.15	)		(6.26	)		(20.14	)
Foreign currency translation adjustments		(12.41	)		6(12.60	)		1214.12			5.(6.4	)
Total comprehensive income	$	5969.03		$	5749.50		$	~~135~~204.25		$	~~117~~166.8

(1) These adjustments were net of tax expense of $0.10 and $0.10 for the three-month periods ended ~~September~~December 27, 2025 and ~~September~~December 28, 2024, respectively, and net of tax expense of $0.2 and $0.1 for the ~~six~~nine-month periods ended ~~September~~December 27, 2025, and ~~September~~December 28, 2024, respectively.

(2) These adjustments were net of tax expense of $0.0 and ~~net of tax benefit of~~ $0.51 for the three-month periods ended ~~September~~December 27, 2025 and ~~September~~December 28, 2024, respectively, and net of tax expense of $0.0 and net of tax benefit of $0.54 for the ~~six~~nine-month periods ended ~~September~~December 27, 2025, and ~~September~~December 28, 2024, respectively.

(3) These adjustments ~~was~~were net of tax ~~expense~~benefit of $0.01 and net of tax ~~benefit~~expense of $0.67 for the three-month periods ended ~~September~~December 27, 2025 and ~~September~~December 28, 2024, respectively, and net of tax benefit of $1.89 and net of tax expense of $0.61 for the ~~six~~nine-month periods ended ~~September~~December 27, 2025, and ~~September~~December 28, 2024, respectively.

See accompanying notes.

RBC Bearings Incorporated

Consolidated Statements of Stockholders’ Equity

(dollars in millions)

(Unaudited)

	Common Stock					Preferred Stock				Additional ~~Paid-in~~		Accumulated Other Comprehensive			Retained		Treasury Stock						Total Stockholders’
	Shares			Amount		Shares		Amount		Paid-in Capital		Income/(Loss)			Earnings		Shares			Amount			Equity
Balance at March 29, 2025		32,522,189		$	0.3		—		—	$	1,682.5	$	(1.4	)	$	1,450.6		(1,046,569	)	$	(100.6	)	$	3,031.4
Net income		—			—		—		—		—		—			68.5		—			—			68.5
Stock-based compensation		—			—		—		—		4.4		—			—		—			—			4.4
Tax withholding for common stock issued under equity incentive plans		—			—		—		—		—		—			—		(33,281	)		(12.1	)		(12.1	)
Exercise of equity awards		73,642			0.0		—		—		11.5		—			—		—			—			11.5
Change in pension and post-retirement plan benefit adjustments, net of tax expense of $0.1		—			—		—		—		—		0.3			—		—			—			0.3
Issuance of restricted stock, net of forfeitures		13,867			—		—		—		—		—			—		—			—			—
Change in fair value of Interest Rate Swap, net of tax expense of $0.0		—			—		—		—		—		0.1			—		—			—			0.1
Change in fair value of Cross Currency Swap, net of tax benefit of $1.8		—			—		—		—		—		(6.2	)		—		—			—			(6.2	)
Issuance of awards previously classified as liability awards		33,339			—		—		—		5.0		—			—		—			—			5.0
Currency translation adjustments		—			—		—		—		—		13.5			—		—			—			13.5
Balance at June 28, 2025		32,643,037		$	0.3		—		—	$	1,703.4	$	6.3		$	1,519.1		(1,079,850	)	$	(112.7	)	$	3,116.4
Net income		—			—		—		—		—		—			60.0		—			—			60.0
Stock-based compensation		—			—		—		—		3.6		—			—		—			—			3.6
Tax withholding for common stock issued under equity incentive plans		—			—		—		—		—		—			—		(1,402	)		(0.6	)		(0.6	)
Exercise of equity awards		50,475			0.0		—		—		8.8		—			—		—			—			8.8
Change in pension and post-retirement plan benefit adjustments, net of tax expense of $0.1		—			—		—		—		—		0.4			—		—			—			0.4
Issuance of restricted stock, net of forfeitures		(6	)		—		—		—		—		—			—		—			—			—
Change in fair value of Interest Rate Swap, net of tax expense of $0.0		—			—		—		—		—		0.0			—		—			—			0.0
Change in fair value of Cross Currency Swap, net of tax expense of $0.0		—			—		—		—		—		0.0			—		—			—			0.0
Currency translation adjustments		—			—		—		—		—		(1.4	)		—		—			—			(1.4	)
Balance at September 27, 2025		32,693,506		$	0.3		—		—	$	1,715.8	$	5.3		$	1,579.1		(1,081,252	)	$	(113.3	)	$	3,187.2
Net income		—			—		—		—		—		—			67.4		—			—			67.4
Stock-based compensation		—			—		—		—		3.7		—			—		—			—			3.7
Tax withholding for common stock issued under equity incentive plans		—			—		—		—		—		—			—		(1,274	)		(0.5	)		(0.5	)
Exercise of equity awards		8,007			0.0		—		—		1.4		—			—		—			—			1.4
Change in pension and post-retirement plan benefit adjustments, net of tax expense of $0.0		—			—		—		—		—		0.0			—		—			—			0.0
Issuance of restricted stock, net of forfeitures		(280	)		—		—		—		—		—			—		—			—			—
Change in fair value of Interest Rate Swap, net of tax expense of $0.0		—			—		—		—		—		0.2			—		—			—			0.2
Change in fair value of Cross Currency Swap, net of tax benefit of $0.1		—			—		—		—		—		(0.4	)		—		—			—			(0.4	)
Currency translation adjustments		—			—		—		—		—		2.1			—		—			—			2.1
Balance at December 27, 2025		32,701,233		$	0.3		—		—	$	1,720.9	$	7.2		$	1,646.5		(1,082,526	)	$	(113.8	)	$	3,261.1

See accompanying notes.

RBC Bearings Incorporated

Consolidated Statements of Stockholders’ Equity

(dollars in millions)

(Unaudited)

	Common Stock					Preferred Stock					Additional ~~Paid-in~~		Accumulated Other Comprehensive			Retained			Treasury Stock						Total Stockholders’
	Shares			Amount		Shares			Amount		Paid-in Capital		Income/(Loss)			Earnings			Shares			Amount			Equity
Balance at March 30, 2024		30,227,444		$	0.3		4,600,000		$	0.0	$	1,625.2	$	0.7		$	1,216.8			(1,015,053	)	$	(91.1	)	$	2,751.9
Net income		—			—		—			—		—		—			61.4			—			—			61.4
Stock-based compensation		—			—		—			—		4.2		—			—			—			—			4.2
Preferred stock dividends		—			—		—			—		—		—			(5.7	)		—			—			(5.7	)
Tax withholding for common stock issued under equity incentive plans		—			—		—			—		—		—			—			(27,208	)		(8.0	)		(8.0	)
Exercise of equity awards		8,642			~~0.0~~—		—			—		1.2		—			—			—			—			1.2
Change in pension and post-retirement plan benefit adjustments, net of tax expense of $0.0		—			—		—			—		—		0.0			—			—			—			0.0
Change in pension and post-retirement plan benefit adjustments, net of tax benefit of $0.0		—			—		—			—		—		0.0			—			—			—			0.0
Issuance of restricted stock, net of forfeitures		27,399			—		—			—		—		—			—			—			—			—
Change in fair value of Interest Rate Swap, net of tax benefit of $0.0		—			—		—			—		—		(0.1	)		—			—			—			(0.1	)
Currency translation adjustments		—			—		—			—		—		(1.0	)		—			—			—			(1.0	)
Balance at June 29, 2024		30,263,485		$	0.3		4,600,000		$	0.0	$	1,630.6	$	(0.4	)	$	1,272.5			(1,042,261	)	$	(99.1	)	$	2,803.9
Net income		—			—		—			—		—		—			54.2			—			—			54.2
Stock-based compensation		—			—		—			—		4.0		—			—			—			—			4.0
Preferred stock dividends		—			—		—			—		—		—			(5.7	)		—			—			(5.7	)
Tax withholding for common stock issued under equity incentive plans		—			—		—			—		—		—			—			(1,469	)		(0.4	)		(0.4	)
Early conversion of mandatory convertible preferred stock to common stock		661			—		(1,500	)		—		—		—			—			—			—			—
Exercise of equity awards		147,484			~~0.0~~—		—			—		24.0		—			—			—			—			24.0
Change in pension and post-retirement plan benefit adjustments, net of tax expense of $0.1		—			—		—			—		—		0.6			—			—			—			0.6
Issuance of restricted stock, net of forfeitures		(269	)		—		—			—		—		—			—			—			—			—
Change in fair value of Interest Rate Swap, net of tax benefit of $0.5		—			—		—			—		—		(1.8	)		—			—			—			(1.8	)
Change in fair value of Cross Currency Swap, net of tax benefit of $0.6		—			—		—			—		—		(2.1	)		—			—			—			(2.1	)
Currency translation adjustments		—			—		—			—		—		6.6			—			—			—			6.6
Balance at September 28, 2024		30,411,361		$	0.3		4,598,500		$	0.0	$	1,658.6	$	2.9		$	1,321.0			(1,043,730	)	$	(99.5	)	$	2,883.3
Net income		—			—		—			—		—		—			57.9			—			—			57.9
Stock-based compensation		—			—		—			—		2.9		—			—			—			—			2.9
Preferred stock dividends		—			—		—			—		—		—			(1.0	)		—			—			(1.0	)
Tax withholding for common stock issued under equity incentive plans		—			—		—			—		—		—			—			(417	)		(0.2	)		(0.2	)
Conversion of mandatory convertible preferred stock to common stock		2,029,294			—		(4,598,500	)		—		—		—			—			—			—			—
Exercise of equity awards		33,772			—		—			—		4.8		—			—			—			—			4.8
Change in pension and post-retirement plan benefit adjustments, net of tax expense of $0.0		—			—		—			—		—		0.3			—			—			—			0.3
Issuance of restricted stock, net of forfeitures		14,265			—		—			—		0.4		—			—			—			—			0.4
Change in fair value of Interest Rate Swap, net of tax expense of $0.1		—			—		—			—		—		0.3			—			—			—			0.3
Change in fair value of Cross Currency Swap, net of tax expense of $0.7		—			—		—			—		—		2.5			—			—			—			2.5
Currency translation adjustments		—			—		—			—		—		(12.0	)		—			—			—			(12.0	)
Balance at December 28, 2024		32,488,692		$	0.3		—			—	$	1,666.7	$	(6.0	)	$	1,377.9			(1,044,147	)	$	(99.7	)	$	2,939.2

See accompanying notes.

RBC Bearings Incorporated

Consolidated Statements of Cash Flows

(dollars in millions)

(Unaudited)

	Six Months Ended
	Nine Months Ended
	September 27, 2025			September 28, 2024
	December 27, 2025			December 28, 2024
Cash flows from operating activities:
Net income	$	~~128~~195.59		$	~~115~~173.65
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		6295.54			6089.29
Deferred income taxes		812.98			(1013.24	)
Amortization of deferred financing costs		12.54			1.07
Stock-based compensation		1423.03			1320.13
Noncash operating lease expense		3.5.3			34.26
Loss on disposition of assets		0.16			0.1
Restructuring and other noncash charges		4.0			—-
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		4235.08			0(2.84	)
Inventory		(4860.21	)		(2036.72	)
Prepaid expenses and other current assets		(70.34	)		(74.09	)
Other noncurrent assets		(716.71	)		(2.01	)
Accounts payable		(14.50	)		1114.01
Accrued expenses and other current liabilities		3(1.45	)		(1619.2	)
Other noncurrent liabilities		437.71			(81.56	)
Net cash provided by operating activities		~~208~~330.45			~~140~~224.4
Cash flows from investing activities:
Capital expenditures		(3255.4	)		(2535.26	)
Acquisition of business		(275.0	)		—-
Net cash used in investing activities		(~~307~~330.4	)		(2535.26	)
Cash flows from financing activities:
Proceeds received from revolving credit facilities		200.0			—40.0
Repayments of revolving credit facilities		(5.0	)		(2060.4	)
Repayments of term loans		(45125.0	)		(75175.0	)
Repayments of notes payable		(1.35	)		(1.34	)
Proceeds from mortgage		—			4.5
Finance fees paid in connection with credit facilities		(1.8	)		-
Principal payments on finance lease obligations		(2.3	)		(2.1	)
Proceeds from mortgage		-			4.5
Preferred stock dividends paid		—			(11.5	)
Principal payments on finance lease obligations		(3.4	)		(3.2	)
Exercise of equity awards		20.3			25.2
Preferred stock dividends paid		-			(17.2	)
Tax withholding for common stock issued under equity incentive plans		(12.7	)		(8.4	)
Exercise of equity awards		21.7			30.0
Net cash provided by/(used in) financing activities		154.0			(89.0	)
Tax withholding for common stock issued under equity incentive plans		(13.2	)		(8.6	)
Effect of exchange rate changes on cash		(0.6	)		(0.6	)
Net cash provided by/(used in) financing activities		71.8			(191.3	)
Effect of exchange rate changes on cash		(1.1	)		(0.4	)
Cash:
Increase/(decrease) during the period		5470.48			25(2.69	)
Cash, at beginning of period		36.8			63.5
Cash, at end of period	$	91107.26		$	8960.16
Supplemental disclosures of cash flow information:
Cash paid for:
Income taxes	$	4153.65		$	5778.98
Interest		2441.34			2848.83

See accompanying notes.

RBC Bearings Incorporated

Notes to Unaudited Interim Consolidated Financial Statements

(dollars in millions, except per-share data)

1. Basis of Presentation

The interim consolidated financial statements included herein have been prepared by RBC Bearings Incorporated, a Delaware corporation (collectively with its subsidiaries, the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim financial statements included with this report have been prepared on a consistent basis with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 29, 2025 (our “Annual Report”). We condensed or omitted certain information and footnote disclosures normally included in our annual audited financial statements, which we prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). As used in this report, the terms “we,” “us,” “our,” “RBC” and the “Company” mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning.

These financial statements reflect all adjustments, accruals, and estimates, consisting only of items of a normal recurring nature, that are, in the opinion of management, necessary for the fair presentation of the consolidated financial condition and consolidated results of operations for the interim periods presented. These financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in our Annual Report.

The results of operations for the three-month and ~~six~~nine-month periods ended ~~September~~December 27, 2025 are not necessarily indicative of the operating results for the entire fiscal year ending March 28, 2026. The three-month periods ended ~~September~~December 27, 2025 and ~~September~~December 28, 2024 each included 13 weeks. The ~~six~~ nine-month periods ended ~~September~~December 27, 2025 and ~~September~~December 28, 2024 each included 2639 weeks.

All dollar amounts contained in these financial statements and footnotes are stated in millions, except for per share data.

VACCO Acquisition

On July 18, 2025, the Company acquired VACCO Industries (“VACCO”) from ESCO Technologies Inc. for approximately $275.0, subject to certain adjustments. Refer to Note 14 for further details regarding this transaction.

2. Significant Accounting Policies

The Company’s significant accounting policies are detailed in “Note 2 - Summary of Significant Accounting Policies” of our Annual Report.

Significant changes to our accounting policies as a result of adopting new accounting standards are discussed below.

Recent Accounting Standards Adopted

~~In November 2023, Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures~~None. The amendments in ASU 2023-07 improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. Our Annual Report included enhanced segment disclosure to comply with the updated requirements. Refer to “Note 12: Reportable Segments” for additional information.

Recent Accounting Standards Yet to Be Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in ASU 2023-09 address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024. As of ~~September~~December 27, 2025, the Company is evaluating the impact the standard will have on its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (DISE). The new standard requires disclosure of specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. As of ~~September~~December 27, 2025, the Company is evaluating the impact the standard will have on its consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Targeted Improvements to the Accounting for Internal Use Software. The new standard amends the existing standard that refers to various stages of a software development project to align better with current software development methods, such as agile programming. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. As of ~~September~~December 27, 2025, the Company is evaluating the impact the standard will have on its consolidated financial statements.

3. Revenue from Contracts with Customers

Disaggregation of Revenue

The following table disaggregates total revenue by end market which is how we view our reportable segments (see Note 12):

Three Months Ended

~~Six~~Nine Months Ended

September 27, 2025

September 28, 2024

September 27, 2025

September 28, 2024

December 27, 2025

December 28, 2024

December 27, 2025

December 28, 2024

Aerospace/Defense

~~198~~202.85

143.2

~~363~~565.49

~~292~~435.35

Industrial

~~256~~259.51

~~254~~251.72

~~527~~787.90

~~511~~763.91

Total

~~455~~461.36

~~397~~394.94

~~891~~1,352.39

~~804~~1,198.26

The following table disaggregates total revenue by geographic origin:

Three Months Ended

~~Six~~Nine Months Ended

September 27, 2025

September 28, 2024

September 27, 2025

September 28, 2024

December 27, 2025

December 28, 2024

December 27, 2025

December 28, 2024

United States

~~406~~413.23

~~352~~348.49

~~794~~1,208.70

~~712~~1,061.54

International

4948.13

45.5

96144.69

91137.72

Total

~~455~~461.36

~~397~~394.94

~~891~~1,352.39

~~804~~1,198.26

The following table illustrates the approximate percentage of revenue recognized for performance obligations satisfied over time versus the amount of revenue recognized for performance obligations satisfied at a point in time:8

	Three Months Ended						Six Months Ended
	September 27, 2025			September 28, 2024			September 27, 2025			September 28, 2024
Point-in-time		94	%		98	%		96	%		97	%
Over time		6	%		2	%		4	%		3	%
Total		100	%		100	%		100	%		100	%

	Three Months Ended						Nine Months Ended
	December 27, 2025			December 28, 2024			December 27, 2025			December 28, 2024
Point-in-time		95	%		97	%		95	%		97	%
Over time		5	%		3	%		5	%		3	%
Total		100	%		100	%		100	%		100	%

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of orders meeting the definition of a contract in Accounting Standards Codification (ASC) Topic 606 – Revenue from Contracts with Customers, for which work has not been performed or has been partially performed and excludes unexercised contract options. The duration of the majority of our contracts, as defined by ASC Topic 606, is less than one year. The Company has elected to apply the practical expedient, which allows the Company to exclude remaining performance obligations with an original expected duration of one year or less. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $~~998~~1,097.72 at ~~September~~December 27, 2025. The Company expects to recognize revenue on approximately 4744% and 7269% of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.

Contract Balances

The timing of revenue recognition, invoicing and cash collections affect accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) on the consolidated balance sheets. These assets and liabilities are reported on the consolidated balance sheets on an individual contract basis at the end of each reporting period.

Contract Assets (Unbilled Receivables) - Pursuant to the over-time revenue recognition model, revenue may be recognized prior to the customer being invoiced. An unbilled receivable is recorded to reflect revenue that is recognized when (1) the cost-to-cost method is applied and (2) such revenue exceeds the amount invoiced to the customer.

As of ~~September~~December 27, 2025 and March 29, 2025, current contract assets were $2621.1 and $6.6, respectively, and are included within prepaid expenses and other current assets on the consolidated balance sheets. The increase in current contract assets was primarily due to current contract assets acquired as part of the VACCO acquisition. Inand ~~addition, we had amounts billed to customers during~~ the ~~period partially offset by the recognition~~ recognition of revenue related to the satisfaction or partial satisfaction of performance obligations prior to billing partially offset by amounts billed to customers during the period. As of ~~September~~December 27, 2025 and March 29, 2025, the Company had noncurrent contract assets of $39.59 and $0.0, respectively, which were included within other noncurrent assets on the consolidated balance sheets. The increase in noncurrent contract assets was primarily due to the acquisition of VACCO.

Contract Liabilities (Deferred Revenue) - The Company may receive a customer advance or deposit, or have an unconditional right to receive a customer advance, prior to revenue being recognized. Since the performance obligations related to such advances may not have been satisfied, a contract liability is established. Advance payments are not considered a significant financing component as the timing of the transfer of the related goods or services is at the discretion of the customer.

As of September 27, 2025 and March 29, 2025, current contract liabilities were $70.6 and $32.7, respectively, and included within accrued expenses and other current liabilities on the consolidated balance sheets. The increase in current contract liabilities was primarily due to current contract liabilities acquired as part of the VACCO acquisition. In addition, we had reclassified certain advance payments received from customers from the noncurrent portion of contract liabilities to current liabilities, and was partially offset by revenue recognized on customer contracts. For the three and six months ended September 27, 2025, the Company recognized revenues of $7.1 and $14.0 that were included in the contract liability balance as of March 29, 2025. For the three and six months ended September 28, 2024, the Company recognized revenues of $5.9 ~~and $11.6 that were included in the contract liability balance at March 30, 2024.~~

As of ~~September~~December 27, 2025 and March 29, 2025, ~~noncurrent~~current contract liabilities were $5358.50 and $1232.17, respectively, and included within ~~other~~accrued ~~noncurrent~~expenses and other current liabilities on the consolidated balance sheets. The increase in ~~noncurrent~~current contract liabilities was primarily due to ~~the~~current ~~acquisition~~contract liabilities acquired as part of the VACCO, acquisition and advance payments received partially offset by revenue recognized on customer contracts. For the ~~reclassification~~three and nine months ended December 27, 2025, the Company recognized revenues of a$16.3 ~~portion~~and $30.3 that were included in the contract liability balance as of ~~advance~~March ~~payments~~29, ~~received~~2025. toFor the ~~current~~three ~~portion~~and nine months ended December 28, 2024, the Company recognized revenues of $2.4 and $14.0 that were included in the contract ~~liabilities~~liability balance at March 30, 2024.

9As of December 27, 2025 and March 29, 2025, noncurrent contract liabilities were $88.2 and $12.1, respectively, and included within other noncurrent liabilities on the consolidated balance sheets. The increase in noncurrent contract liabilities was primarily due to the acquisition of VACCO and advance payments received.

Variable Consideration

The amount of consideration to which the Company expects to be entitled in exchange for the goods and services is not generally subject to significant variations. However, the Company does offer certain customers rebates, prompt payment discounts, end-user discounts, the right to return eligible products, and/or other forms of variable consideration. The Company estimates this variable consideration using the expected value amount, which is based on historical experience. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company adjusts the estimate of revenue at the earlier of when the amount of consideration the Company expects to receive changes or when the consideration becomes fixed. Accrued customer rebates were $4149.54 and $40.0 at ~~September~~December 27, 2025 and March 29, 2025, respectively, and are included within accrued expenses and other current liabilities on the consolidated balance sheets.

4. Accumulated Other Comprehensive Income/(Loss)

The components of comprehensive income/(loss) that relate to the Company are net income, foreign currency translation adjustments, changes in fair value of derivatives, and pension plan and postretirement benefits.

The following summarizes the activity within each component of accumulated other comprehensive income/(loss), net of taxes:

	Currency Translation			Change in Fair Value of Interest Rate Swap			Change in Fair Value of Cross Currency Swap			Pension and Postretirement Liability		Total
Balance at March 29, 2025	$	(6.5	)	$	(0.2	)	$	(0.2	)	$	5.5	$	(1.4	)
Reclassification to net income		—			(0.02	)		—			—		(0.02	)
Change in pension and postretirement liability		—			—			—			0.7		0.7
Net gain on foreign currency translation		1214.12			—			—			—		1214.12
Gain on Interest Rate Swap, net of taxes		—			0.15			—			—		0.15
Loss on Cross Currency Swap, net of taxes		—			—			(6.26	)		—		(6.26	)
Net current period other comprehensive income/(loss)		1214.12			0.13			(6.26	)		0.7		68.76
Balance at September 27, 2025	$	5.6		$	(0.1	)	$	(6.4	)	$	6.2	$	5.3
Balance at December 27, 2025	$	7.7		$	0.1		$	(6.8	)	$	6.2	$	7.2

~~5. Net income Per-share Attributable to Common Stockholders~~10

~~Basic~~5. ~~net~~Net income ~~per~~Per-share ~~attributable~~ toAttributable ~~common stockholders is computed by dividing net income attributable~~ to ~~common stockholders by the weighted average number~~Common ~~of common shares outstanding.~~Stockholders

~~Diluted~~Basic net income per -share attributable to common stockholders is computed by dividing net income attributable to common stockholders by the ~~sum of the~~ weighted average number of common shares ~~and dilutive common share equivalents then~~ outstanding ~~using the treasury stock method~~. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options, the vesting of restricted shares, and contingently issuable shares related to performance-based awards.

WeDiluted ~~exclude~~net income per share attributable to common stockholders is computed by dividing net income attributable to common stockholders by the sum of the weighted average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common share equivalents ~~options,~~consist ~~stock~~of ~~awards~~the ~~and~~incremental ~~contingently~~common shares issuable ~~shares~~upon ~~related~~the toexercise ~~performance-based~~of ~~awards~~stock ~~from~~options, the ~~calculations~~vesting ifof ~~the~~restricted ~~effect~~shares, ~~would~~and becontingently ~~anti~~issuable shares related to performance-~~dilutive~~based awards.

AsWe ofexclude ~~September~~outstanding ~~28, 2024,~~stock ~~there were 4~~options,~~598,500~~ ~~shares~~stock ofawards ~~our~~and ~~5.00%~~contingently ~~Series~~issuable Ashares ~~Mandatory~~related ~~Convertible~~to ~~Preferred~~performance-based ~~Stock~~awards ~~(the~~from ~~“MCPS”) outstanding. For~~ the ~~three-month~~ ~~and~~calculations ~~six-month~~if ~~period ended September 28, 2024,~~ the effect ofwould ~~assuming the conversion of the 4,598,500 shares of MCPS into~~be ~~shares of common stock was~~ anti-dilutive~~, and therefore excluded from the calculation of diluted earnings per-share attributable to common stockholders~~. Accordingly, net income was reduced by cumulative MCPS dividends, as presented in our consolidated statement of operations, for purposes of calculating the numerator in the diluted net income per share attributable to common stockholders.

For the three months ended ~~September~~December 27, 2025, 5821,~~293~~322 employee stock options and no restricted shares were excluded from the calculation of diluted earnings per-share attributable to common stockholders. For the ~~six~~nine months ended ~~September~~December 27, 2025, 6362,~~163~~267 employee stock options and ~~100~~no restricted shares were excluded from the calculation of diluted earnings per-share attributable to common stockholders. The inclusion of these employee stock options ~~and restricted shares~~ would have been anti-dilutive.

10For the three months ended December 28, 2024, 51,783 employee stock options and 130 restricted shares were excluded from the calculation of diluted earnings per-share attributable to common stockholders. For the nine months ended December 28, 2024, 79,564 employee stock options and 12,605 restricted shares were excluded from the calculation of diluted earnings per share attributable to common stockholders. The inclusion of these employee stock options and restricted shares would have been anti-dilutive.

~~For~~The ~~the~~table ~~three~~below ~~months~~reflects ~~ended September 28, 2024, 50,205 employee stock options and no restricted shares were excluded from~~ the calculation of ~~diluted earnings per~~weighted-~~share attributable~~average toshares ~~common~~outstanding ~~stockholders.~~for ~~For~~each ~~the~~period ~~six~~presented ~~months~~as ~~ended~~well ~~September~~as ~~28,~~the ~~2024,~~computation ~~60,907~~of ~~employee~~basic ~~stock options~~ and ~~3,250 restricted shares were excluded from the calculation of~~ diluted ~~earnings~~net income per -share attributable to common stockholders. ~~The inclusion of these employee stock options and restricted shares would have been anti-dilutive.~~

The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per-share attributable to common stockholders.

	Three Months Ended				Nine Months Ended
	December 27, 2025		December 28, 2024		December 27, 2025		December 28, 2024

Net income	$	67.4	$	57.9	$	195.9	$	173.5
Preferred stock dividends		—		1.0		—		12.4
Net income attributable to common stockholders	$	67.4	$	56.9	$	195.9	$	161.1

Denominator for basic net income per share attributable to common stockholders — weighted-average shares outstanding		31,522,574		31,041,126		31,463,546		29,740,170
Effect of dilution due to contingently issuable shares related to performance-based awards		5,864		—		6,851		—
Effect of dilution due to employee stock awards		116,154		181,497		135,937		213,713
Denominator for diluted net income per share attributable to common stockholders — weighted-average shares outstanding		31,644,592		31,222,623		31,606,334		29,953,883

Basic net income per share attributable to common stockholders	$	2.14	$	1.83	$	6.23	$	5.42

Diluted net income per share attributable to common stockholders	$	2.13	$	1.82	$	6.20	$	5.38

	Three Months Ended				Six Months Ended
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Net income	$	60.0	$	54.2	$	128.5	$	115.6
Preferred stock dividends		—		5.7		—		11.4
Net income attributable to common stockholders	$	60.0	$	48.5	$	128.5	$	104.2
Denominator for basic net income per share attributable to common stockholders — weighted-average shares outstanding		31,493,205		29,124,564		31,434,032		29,089,692
Effect of dilution due to contingently issuable shares related to performance-based awards		6,682		—		7,344		—
Effect of dilution due to employee stock awards		115,441		211,902		144,345		226,801
Denominator for diluted net income per share attributable to common stockholders — weighted-average shares outstanding		31,615,328		29,336,466		31,585,721		29,316,493
Basic net income per share attributable to common stockholders	$	1.90	$	1.67	$	4.09	$	3.58
Diluted net income per share attributable to common stockholders	$	1.90	$	1.65	$	4.07	$	3.55

6. Fair Value

Fair value is defined as the price that would be expected to be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The FASB provides accounting rules that classify the inputs used to measure fair value into the following hierarchy:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 – Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.

Level 3 – Unobservable inputs for the asset or liability.

Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

As a result of the occurrence of triggering events such as purchase accounting for acquisitions, the Company measures certain assets and liabilities based on Level 3 inputs.

11Financial Instruments

~~Financial~~The ~~Instruments~~Company’s financial instruments consist primarily of cash, accounts receivable, trade accounts payable, accrued expenses, short-term borrowings, long-term debt (see Note 10), and derivatives in the form of the Interest Rate Swap (as defined in Note 13) and the Cross Currency Swap (as defined in Note 13).

~~The~~Due ~~Company’s~~to ~~financial~~their short-term nature, ~~instruments~~the ~~consist~~carrying ~~primarily~~value of cash, accounts receivable, trade accounts payable, accrued expenses, and short-term borrowings, ~~long~~are a reasonable estimate of their fair value. Long-term ~~debt,~~ ~~and~~assets ~~derivatives~~held inon ~~the~~our ~~form~~balance ofsheets anrelated ~~interest~~to ~~rate~~benefit ~~swap~~plan ~~and~~obligations aare ~~cross~~measured ~~currency~~at ~~swap~~fair value.

~~Due~~The tofair ~~their~~value ~~short~~of the Company’s long-term fixed-rate ~~nature~~debt, ~~the~~ ~~carrying~~based ~~value~~on ofquoted ~~cash~~market prices, ~~accounts~~was ~~receivable,~~$493.1 ~~trade~~and ~~accounts~~$470.5 ~~payable,~~at ~~accrued~~December ~~expenses~~27, 2025 and ~~short-term~~March ~~borrowings~~29, ~~are~~2025, arespectively. ~~reasonable~~The ~~estimate~~carrying value of ~~their~~this debt was $495.9 at December 27, 2025 and $495.1 at March 29, 2025. The fair value. ~~Long~~of long-term ~~assets~~fixed-rate ~~held~~debt onwas ~~our~~measured using ~~balance~~Level ~~sheets~~1 ~~related~~inputs. Due to ~~benefit~~the ~~plan~~nature ~~obligations~~of ~~are~~fair ~~measured~~value atcalculations for variable-rate debt, the carrying value of the Company’s long-term variable-rate debt is a reasonable estimate of its fair value.

The fair value of the ~~Company’s long-term~~Interest ~~fixed-rate~~Rate ~~debt,~~Swap ~~based~~was ona liability ~~quoted~~of ~~market prices, was~~ $~~486~~0.70 and $~~470~~0.53 at ~~September~~December 27, 2025 and March 29, 2025, respectively, and was measured using Level 2 inputs. The ~~carrying~~fair value of ~~this~~the ~~debt~~Interest ~~was~~Rate ~~$495.6~~Swap atwas ~~September~~included ~~27,~~in ~~2025~~accrued expenses and ~~$495.1~~other atcurrent ~~March~~liabilities ~~29,~~on ~~2025.~~the Company’s consolidated balance sheets. The ~~fair~~Interest ~~value~~Rate Swap, net of ~~long-term~~taxes, ~~fixed-rate debt~~had ~~was~~accumulated ~~measured~~other ~~using~~comprehensive ~~Level~~gain 1of ~~inputs~~$0.1 and ~~Due~~loss toof ~~the~~$0.2 ~~nature~~as of ~~fair~~December ~~value~~27, ~~calculations~~2025 and ~~for~~March ~~variable-rate~~29, ~~debt~~2025, ~~the~~respectively, ~~carrying~~and ~~value~~was ofincluded in accumulated other comprehensive income/(loss) on the Company’s ~~long-term~~consolidated balance ~~variable-rate~~sheets, ~~debt~~and isin athe ~~reasonable~~Company’s ~~estimate~~consolidated statements of ~~its~~comprehensive ~~fair value~~income/(loss).

The fair value of the ~~Interest~~Cross ~~Rate~~Currency Swap ~~(as defined in Note 13)~~ was a liability of $08.16 and $0.32 at ~~September~~December 27, 2025 and March 29, 2025, respectively, and was measured using Level 2 inputs. This ~~The~~amount ~~fair~~is ~~value of the Interest Rate Swap was~~ included in ~~accrued expenses and~~ other ~~current~~noncurrent liabilities on the Company’s consolidated balance sheets. The ~~Interest~~Cross ~~Rate~~Currency Swap, net of taxes, had accumulated other comprehensive loss of $06.1 8 and $0.2 as of ~~September~~ December 27, 2025 and March 29, 2025, respectively, and was included in accumulated other comprehensive income/(loss) on the Company’s consolidated balance sheets, and in the Company’s consolidated statements of comprehensive income/(loss). The decrease in the fair value of the Cross Currency Swap is primarily due to the weakening of the USD compared to the CHF during the nine month period ended December 27, 2025.

The fair value of the Cross Currency Swap (as defined in Note 13) was a liability of $8.1 and $0.2 at September 27, 2025 and March 29, 2025, and was measured using Level 2 inputs. This amount is included in other noncurrent liabilities on the Company’s ~~consolidated~~does ~~balance~~not ~~sheets. The Cross~~believe ~~Currency~~it ~~Swap,~~has ~~net~~significant ofconcentrations ~~taxes, had accumulated other comprehensive loss~~ of ~~$6.4~~risk ~~and~~associated ~~$0.2~~with ~~as of September 27, 2025 and March 29, 2025, and was included in accumulated other comprehensive income/(loss) on~~ the ~~Company’s~~counterparties ~~consolidated balance sheets, and in the Company’s consolidated statements of comprehensive income/(loss). The decrease in the fair value of the Cross Currency Swap is primarily due~~ to ~~the~~ ~~weakening~~its offinancial ~~the USD compared to the CHF during the six month period ended September 27, 2025~~instruments.

~~The Company does not believe it has significant concentrations of risk associated with the counterparties to its financial instruments.~~12

7. Inventory

The major classes of inventories are summarized below:

	September 27, 2025			March 29, 2025
	December 27, 2025			March 29, 2025
Raw materials and work in process		32.82	%		30.8	%
Finished goods and components		67.28	%		69.2	%
		100.0	%		100.0	%

128. Goodwill and Intangible Assets

8. Goodwill ~~and Intangible Assets~~

Goodwill balances, by segment, consist of the following:

	Aerospace/Defense		Industrial		Total
March 29, 2025	$	199.2	$	1,673.0	$	1,872.2
Acquisition⁽¹⁾		111.2		—		111.2
Currency translation adjustments		—		4.3		4.3
December 27, 2025	$	310.4	$	1,677.3	$	1,987.7

	Aerospace/ Defense		Industrial		Total
March 29, 2025	$	199.2	$	1,673.0	$	1,872.2
Acquisition(1)		109.9		—		109.9
Currency translation adjustments		—		3.1		3.1
September 27, 2025	$	309.1	$	1,676.1	$	1,985.2

⁽¹⁾

Goodwill associated with the acquisition of VACCO as discussed further in Note 14.

~~(1)~~Intangible ~~Goodwill~~Assets ~~associated with the acquisition of VACCO as discussed further in Note 14.~~

Intangible Assets

			December 27, 2025				March 29, 2025
	Weighted Average Useful Lives (Years)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Product approvals		24	$	50.7	$	23.6	$	50.7	$	22.2
Customer relationships and lists ⁽¹⁾		24		1,379.0		258.3		1,301.0		215.1
Trade names ⁽¹⁾		24		224.7		48.0		217.2		41.8
Patents and trademarks		15		10.2		6.8		10.0		6.5
Domain names		10		0.4		0.4		0.4		0.4
Internal-use software ⁽¹⁾		3		22.3		11.1		21.7		14.5
Other ⁽¹⁾		4		37.9		5.4		1.6		1.3
				1,725.2		353.6		1,602.6		301.8
Non-amortizable repair station certifications		n/a		24.3		—		24.3		—
Total		23	$	1,749.5	$	353.6	$	1,626.9	$	301.8

	Weighted	September 27, 2025				March 29, 2025
	Average Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Product approvals	24	$	50.7	$	23.1	$	50.7	$	22.2
Customer relationships and lists	24		1,378.8		243.5		1,301.0		215.1
Trade names	24		224.7		46.0		217.2		41.8
Patents and trademarks	15		10.1		6.7		10.0		6.5
Domain names	10		0.4		0.4		0.4		0.4
Internal-use software	3		28.5		18.5		21.7		14.5
Other	4		37.9		2.9		1.6		1.3
			1,731.1		341.1		1,602.6		301.8
Non-amortizable repair station certifications	n/a		24.3		—		24.3		—
Total	23	$	1,755.4	$	341.1	$	1,626.9	$	301.8

⁽¹⁾	Includes $76.3 of customer relationships, $7.5 of trade names, $3.1 of internal-use software and $36.2 of funded backlog resulting from the VACCO acquisition.

Amortization expense for definite-lived intangible assets during the three-month periods ended September 27, 2025 and September 28, 2024 was $20.7 and $17.9, respectively. Amortization expense for definite-lived intangible assets during the six-month periods ended September 27, 2025 and September 28, 2024 was $38.6 and $35.7, respectively. These amounts are included in other, net on the Company’s consolidated statements of operations. Estimated amortization expense for the remainder of fiscal 2026 and for the five succeeding fiscal years and thereafter is as follows:13

Remainder of Fiscal 2026	$	43.5
Fiscal 2027		82.8
Fiscal 2028		78.2
Fiscal 2029		77.9
Fiscal 2030		72.5
Fiscal 2031		69.3
Fiscal 2032 and thereafter		965.8

Amortization expense for definite-lived intangible assets for the three-month periods ended December 27, 2025 and December 28, 2024 was $21.0 and $17.9, respectively. Amortization expense for definite-lived intangible assets for the nine-month periods ended December 27, 2025 and December 28, 2024 was $59.6 and $53.6, respectively. These amounts are included in other, net on the Company’s consolidated statements of operations. Estimated amortization expense for the remainder of fiscal 2026 and for the five succeeding fiscal years and thereafter is as follows:

Remainder of Fiscal 2026	$	25.3
Fiscal 2027		81.6
Fiscal 2028		78.9
Fiscal 2029		78.4
Fiscal 2030		72.5
Fiscal 2031		69.1
Fiscal 2032 and thereafter		965.8

9. Accrued Expenses and Other Current Liabilities

The significant components of accrued expenses and other current liabilities are as follows:

	September 27, 2025		March 29, 2025
	December 27, 2025		March 29, 2025
Employee compensation and related benefits	$	6068.72	$	45.2
Taxes		67.03		11.1
Contract liabilities		7058.60		32.7
Accrued rebates		4149.54		40.0
Workers compensation and insurance		0.98		0.5
Current finance lease liabilities		5.87		5.9
Interest		126.07		12.2
Legal		1.95		2.1
Returns and warranties		109.16		9.4
Other		109.61		6.9
	$	~~220~~216.13	$	166.0

10. Debt

Domestic Credit Facility

In fiscal 2022, RBC Bearings Incorporated, our top holding company, and our Roller Bearing Company of America, Inc. subsidiary (“RBCA”) entered into a Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, National Association (“Wells Fargo”), as Administrative Agent, Collateral Agent, Swingline Lender and Letter of Credit Issuer, and the other lenders party thereto. The Credit Agreement provides the Company with (a) a $1,300.0 term loan (the “Term Loan”), which was used to fund a portion of the cash purchase price for the acquisition of Dodge Industrial, Inc. (“Dodge”) and to pay related fees and expenses, and (b) a $500.0 revolving credit facility (the “Revolving Credit Facility” and together with the Term Loan, the “Facilities”). ~~Debt issuance costs associated with the Credit Agreement totaled $14.9 and are being amortized through November 2026.~~

Amounts outstanding under the Facilities generally bear interest at either, at the Company’s option, (a) a base rate determined by reference to the higher of (i) Wells Fargo’s prime lending rate, (ii) the federal funds effective rate plus 0.50% and (iii) Term SOFR (as defined in the Credit Agreement based on SOFR, the secured overnight financing rate administered by the Federal Reserve Bank of New York) plus 1.00% or (b) Term SOFR plus a credit spread adjustment of 0.10% plus a margin ranging from 0.75% to ~~2.00%~~a ~~(reduced~~cap toof 1.75% ~~after~~in ~~September~~the ~~27,~~case ~~2025~~of ~~with respect to~~ loans under the Revolving Credit Facility) and 2.00% in the case of the Term Loan depending on the Company’s consolidated ratio of total net debt to consolidated EBITDA (as defined in the Credit Agreement) from time to time. The Facilities are subject to a SOFR floor of 0.00%. As of ~~September~~December 27, 2025, the Company’s margin was 01.7500% for SOFR loans, the commitment fee rate was 0.175%, and the letter of credit fee rate was 01.7500%. ~~A portion of the Term Loan is subject to a fixed-rate interest swap as discussed in Note 13.~~

The Term Loan matures in November 2026 and amortizes in quarterly installments with the balance payable on the maturity date. The Company can elect to prepay some or all of the outstanding balance from time to time without penalty, which will offset future quarterly amortization installments. Due to prepayments previously made, the required future principal payments on the Term Loan are $0 for fiscal 2026 and $368.0 for fiscal 2027. As of September 27, 2025, the Revolving Credit Facility was set to expire in November 2026 but was subsequently extended to October 2030. See Note 15. All amounts outstanding under the Revolving Credit Facility will be payable on its expiration date.14

The ~~Credit~~Term ~~Agreement~~Loan ~~requires~~matures ~~the~~in ~~Company~~November 2026 toand ~~comply~~amortizes ~~with~~in ~~various~~quarterly ~~covenants,~~installments ~~including~~with the ~~following~~ ~~financial~~balance ~~covenants:~~payable ~~(a)~~on ~~a maximum Total Net Leverage Ratio (as defined within~~ the ~~Credit~~maturity ~~Agreement) of 4~~date.~~50:1.00~~ ~~(provided that~~The ~~such maximum ratio may be increased by the~~ Company bycan ~~0.50:1.00~~elect ~~for~~to aprepay ~~period~~some or all of ~~12 months after~~ the ~~consummation~~outstanding ofbalance afrom ~~material~~time ~~acquisition (provided~~to ~~that there may be only one such increase in effect at any one~~ time~~));~~ ~~and~~without ~~(b)~~penalty, awhich ~~minimum~~will ~~Interest~~offset ~~Coverage~~future ~~Ratio~~quarterly ofamortization 2installments.~~00:1.00. As~~ ofDue ~~September~~to 27prepayments previously made, ~~2025~~ the ~~Company~~required ~~was~~future inprincipal ~~compliance~~payments ~~with~~on ~~all~~the ~~debt~~Term ~~covenants.~~Loan ~~The~~are ~~Interest~~$0 ~~Coverage~~for ~~Ratio~~fiscal ~~covenant~~2026 ~~was~~and ~~removed from the Credit Agreement after September 27, 2025~~$288.0 ~~See~~for ~~Note~~fiscal 152027.

14Originally the Revolving Credit Facility was to expire in November 2026 but on October 28, 2025, the Credit Agreement was amended to, among other things, (i) extend the expiration date of the Revolving Credit Facility to October 2030, (ii) eliminate the minimum interest coverage ratio covenant from the Credit Agreement, and (iii) reduce the margin cap within the pricing grid on Term SOFR-based loans under the Revolving Credit Facility from 2.00% to 1.75%. All amounts outstanding under the Revolving Credit Facility will be payable on its expiration date.

~~The~~In ~~Credit~~connection ~~Agreement~~with ~~allows~~ the ~~Company to~~amendment, new ~~among~~debt ~~other~~issuance ~~things~~costs totaled $1.8. Additionally, ~~make~~$0.6 ~~distributions~~of topreviously ~~stockholders,~~unamortized ~~repurchase~~debt ~~its~~issuance ~~stock,~~costs ~~incur~~associated ~~other~~with the Revolving Credit Facility will now be associated with the new arrangement. The total of $2.4 debt orissuance ~~liens,~~costs orwill ~~acquire~~be oramortized through the new term ~~dispose~~of October 2030. The remaining portion of ~~assets~~original ~~provided~~debt ~~that~~issuance costs associated with the ~~Company~~Term ~~complies~~Loan ~~with~~of ~~certain~~$1.6 ~~requirements~~will ~~and~~continue ~~limitations~~to amortize through the end of the ~~Credit~~Term ~~Agreement~~Loan in November 2026.

The Credit Agreement requires the Company’s ~~domestic~~to comply ~~subsidiaries~~with ~~have~~various ~~guaranteed~~covenants, ~~the~~including ~~Company’s~~a ~~obligations~~maximum ~~under~~Total Net Leverage Ratio (as defined within the Credit Agreement,) ~~and~~of 4.50:1.00 (provided that such maximum ratio may be increased by the Company’s ~~obligations~~to ~~and~~0.50:1.00 for a period of 12 months after the ~~domestic~~consummation of a material acquisition ~~subsidiaries’~~(provided ~~guaranty~~that ~~are~~there ~~secured~~may bybe aonly ~~pledge~~one ofsuch ~~substantially~~increase ~~all~~in ofeffect ~~the~~at ~~assets~~any one time)). As of December 27, 2025 the Company ~~and~~was ~~its~~in ~~domestic~~compliance with ~~subsidiaries~~all debt covenants.

AsThe ofCredit ~~September~~Agreement ~~27, 2025,~~allows ~~$368.0 was outstanding under~~ the ~~Term~~Company ~~Loan~~to, ~~$3.7~~among ofother ~~the~~things, ~~Revolving~~make ~~Credit~~distributions ~~Facility was being utilized~~ to ~~provide~~stockholders, ~~letters~~repurchase ofits ~~credit~~stock, toincur ~~secure the~~other ~~Company’s~~debt ~~obligations~~or ~~relating to certain insurance programs~~liens, ~~and~~or ~~$200.0~~acquire ~~of the Revolving Credit Facility had been used to fund~~or ~~the~~dispose ~~purchase~~ of ~~VACCO~~assets ~~which~~provided isthat ~~discussed~~the ~~in Note 14. The~~ Company ~~had~~complies ~~the~~with ~~ability~~certain torequirements ~~borrow~~and anlimitations ~~additional~~of ~~$296.3 under~~ the ~~Revolving~~ Credit ~~Facility~~ ~~as of September 27, 2025~~Agreement. ~~On September 30, 2025, the Company paid $40.0 on the Term Loan.~~

~~Senior~~The ~~Notes~~Company’s domestic subsidiaries have guaranteed the Company’s obligations under the Credit Agreement, and the Company’s obligations and the domestic subsidiaries’ guaranty are secured by a pledge of substantially all of the assets of the Company and its domestic subsidiaries.

InAs ~~fiscal~~of ~~2022~~December 27, ~~RBCA~~2025, ~~issued~~ $~~500~~288.0 was ~~aggregate~~outstanding ~~principal~~under ~~amount~~the ofTerm 4Loan, $3.~~375%~~7 ~~Senior~~of ~~Notes~~the ~~due~~Revolving ~~2029~~Credit ~~(the~~Facility ~~“Senior~~was ~~Notes”).~~being ~~The~~utilized ~~net~~to ~~proceeds~~provide ~~from~~letters ~~the issuance~~ of credit to secure the Company’s ~~Senior~~obligations ~~Notes~~relating ~~were~~to ~~approximately~~certain insurance programs, and $~~492~~200.0, ~~after~~of ~~deducting~~the ~~initial~~Revolving ~~purchasers’~~Credit ~~discounts~~Facility ~~and~~had ~~commissions~~been ~~and~~used ~~offering~~to ~~expenses,~~fund ~~and~~the ~~were~~purchase ~~used~~of toVACCO ~~fund~~which ais ~~portion~~discussed ofin Note 14. The Company had the ~~cash~~ability ~~purchase~~to ~~price~~borrow ~~for~~an additional $296.3 under the ~~acquisition~~Revolving Credit Facility as of ~~Dodge~~December 27, 2025.

~~The~~ Senior Notes were issued pursuant to an indenture with Wilmington Trust, National Association, as trustee. This indenture contains covenants limiting the ability of the Company to (i) incur additional indebtedness or guarantee indebtedness, (ii) declare or pay dividends, redeem stock or make other distributions to stockholders, (iii) make investments, (iv) create liens or use assets as security in other transactions, (v) merge or consolidate, or sell, transfer, lease or dispose of substantially all of its assets, (vi) enter into transactions with affiliates, and (vii) sell or transfer certain assets. These covenants contain various exceptions, limitations and qualifications. At any time that the Senior Notes are rated investment grade, certain of these covenants will be suspended.

~~The~~In ~~Senior~~fiscal ~~Notes~~2022, ~~are~~RBCA ~~guaranteed~~issued ~~jointly~~$500.0 ~~and~~aggregate ~~severally~~principal onamount aof ~~senior~~4.375% ~~unsecured~~Senior ~~basis~~Notes bydue ~~RBC~~2029 ~~Bearings~~(the ~~and~~“Senior ~~certain~~Notes”). The net proceeds from the issuance of ~~RBCA~~the Senior Notes were approximately $492.0, after deducting initial purchasers’s ~~existing~~discounts and ~~future~~commissions ~~wholly-owned~~and ~~domestic~~offering expenses ~~subsidiaries~~and ~~that~~were ~~also~~used ~~guarantee~~to fund a portion of the ~~Credit~~cash ~~Agreement~~purchase price for the acquisition of Dodge.

~~Interest~~The onSenior Notes were issued pursuant to an indenture with Wilmington Trust, National Association, as trustee. This indenture contains covenants limiting the ~~Senior~~ability of ~~Notes~~the Company to (i) incur additional indebtedness or guarantee indebtedness, (ii) declare or pay dividends, redeem stock or make other ~~accrues~~distributions atto astockholders, ~~rate~~(iii) make investments, (iv) create liens or use assets as security in other transactions, (v) merge or consolidate, or sell, transfer, lease or dispose of ~~4.375%~~substantially all of its assets, (vi) enter into transactions with affiliates, and (vii) issell ~~payable~~or ~~semi–annually~~transfer incertain ~~cash~~assets. inThese ~~arrears~~covenants oncontain ~~April~~various 15exceptions, limitations, and ~~October~~qualifications. 15At any time that the Senior Notes are rated investment grade, certain of ~~each~~these ~~year~~covenants will be suspended.

The Senior Notes ~~will~~are ~~mature~~guaranteed onjointly ~~October~~and ~~15,~~severally ~~2029.~~on ~~The~~a ~~Company~~senior ~~may~~unsecured ~~redeem~~basis ~~some~~by orRBC ~~all~~Bearings ~~of the Senior Notes at any time at the redemption prices set forth in the Indenture, plus accrued~~ and ~~unpaid interest, if any, to, but excluding, the redemption date. If the Company sells~~ certain of ~~its~~RBCA’s ~~assets~~existing orand ~~experiences specific~~future ~~kinds~~wholly-owned ofdomestic subsidiaries ~~changes~~that inalso ~~control,~~guarantee the ~~Company~~Credit ~~must offer to repurchase the Senior Notes~~Agreement.

~~Foreign~~Interest ~~Borrowing~~on ~~Arrangements~~the Senior Notes accrues at a rate of 4.375% and is payable semi–annually in cash in arrears on April 15 and October 15 of each year.

~~One~~The ofSenior ~~our~~Notes ~~foreign~~will ~~subsidiaries,~~mature ~~Schaublin~~on SAOctober 15, ~~has~~2029. aThe ~~CHF~~Company ~~5.0~~may ~~(approximately~~redeem ~~$6.1~~some ~~USD)~~or ~~credit~~all ~~line~~of (the ~~“Foreign~~Senior ~~Credit~~Notes ~~Line”)~~at ~~with~~any ~~Credit~~time ~~Suisse~~at ~~(Switzerland) Ltd.~~the toredemption ~~provide~~prices ~~future~~set ~~working~~forth ~~capital~~in the Indenture, plus ifaccrued ~~necessary.~~and Asunpaid ofinterest, ~~September~~if 27any, ~~2025~~to, $0but excluding, the redemption date.1 ~~was~~If ~~being~~the ~~utilized~~Company tosells ~~provide~~certain aof ~~bank~~its ~~guarantee.~~assets ~~Fees~~or experiences ~~associated~~specific ~~with~~kinds of changes in control, the ~~Foreign~~Company ~~Credit~~must ~~Line~~offer ~~are~~to ~~nominal~~repurchase the Senior Notes.

In July 2024, Swiss Tool Systems, one of our foreign subsidiaries, purchased the building where it operates for CHF 7.1 (approximately $8.4 USD) and took out a 10-year, 2.9% fixed-rate mortgage on the building for CHF 4.0 (approximately $4.5 USD).15

15Foreign Borrowing Arrangements

~~The~~One ~~balances~~of ~~payable~~our ~~under~~foreign ~~all~~subsidiaries, Schaublin ~~our~~SA, ~~borrowing~~has ~~facilities~~a CHF 5.0 (approximately $6.2 USD) credit line (the “Foreign Credit Line”) with Credit Suisse (Switzerland) ~~are~~Ltd. asto ~~follows:~~provide future working capital, if necessary. As of December 27, 2025, $0.1 was being utilized to provide a bank guarantee. Fees associated with the Foreign Credit Line are nominal.

	September 27, 2025			March 29, 2025
Revolving and term loan facilities	$	568.0		$	418.0
Senior notes		500.0			500.0
Debt issuance costs		(6.8	)		(8.3	)
Other		9.9			10.4
Total debt		1,071.1			920.1
Less: current portion		1.8			1.7
Long-term debt	$	1,069.3		$	918.4

~~11.~~The ~~Income~~balances ~~Taxes~~payable under all our borrowing facilities are as follows:

The Company files income tax returns in numerous U.S. and foreign jurisdictions, with returns subject to examination for varying periods, but generally back to and including the year ending April 2, 2022, although certain tax credits generated in earlier years are open under statute from March 29, 2008. The Company is no longer subject to U.S. federal tax examination by the Internal Revenue Service for years ending before April 2, 2022.

	December 27, 2025			March 29, 2025
Revolving and term loan facilities	$	488.0		$	418.0
Senior notes		500.0			500.0
Debt issuance costs		(7.7	)		(8.3	)
Other		9.9			10.4
Total debt		990.2			920.1
Less: current portion		288.6			1.7
Long-term debt	$	701.6		$	918.4

~~The effective income tax rates for the three-month periods ended September 27, 2025 and September 28, 2024, were 28~~11.0% ~~and~~Income ~~21.9%,~~Taxes respectively. In addition to discrete items, the effective income tax rates for both these periods were different from the U.S. statutory rates due to the foreign-derived intangible income provision and U.S. credit for increasing research activities, which decreased the rate, and state income taxes, foreign income taxes, and nondeductible compensation, which increased the rate.

The ~~effective~~Company files income tax ~~rate~~ ~~for~~returns ~~the~~in ~~three-month~~numerous ~~period ended September 27, 2025 of 28~~U.~~0% included $0~~S.3 ofand ~~discrete~~foreign ~~tax~~jurisdictions, ~~benefits associated~~ with ~~stock-based~~returns ~~compensation offset~~subject byto ~~$2.4~~examination offor ~~other~~varying ~~items~~periods, ~~including~~but agenerally ~~$2.3~~back ~~change~~ to ~~deferred taxes related to the acquisition of VACCO. The effective income tax~~and ~~rate~~including ~~without discrete items for~~ the ~~three-month~~year ~~period~~ending ~~ended~~April ~~September 27~~2, ~~2025 would have been 25.6%. The effective income tax rate for the three-month period ended September 28~~2022, ~~2024~~although ofcertain ~~21.9% included $1.1 of discrete~~ tax ~~benefits~~credits ~~associated~~generated ~~with~~in ~~stock-based~~earlier ~~compensation partially~~years ~~offset~~are byopen ~~$0.1~~under ofstatute ~~other~~from ~~discrete~~March ~~tax expenses. The effective income tax rate without discrete items for the three-month period ended September 28~~29, ~~2024 would have been 23~~ 2008.~~4%.~~ The Company ~~believes it~~ is ~~reasonably~~no ~~possible~~longer ~~that~~subject ~~some of its unrecognized tax positions may be effectively settled within the next 12 months due~~ to ~~the closing of audits and the statute of limitations expiring in various jurisdictions~~U. ~~The~~S. ~~decrease~~federal ~~in the Company’s unrecognized~~ tax ~~positions,~~examination ~~pertaining~~by ~~primarily~~the toInternal ~~federal~~Revenue ~~and~~Service ~~state~~for ~~credits~~years ~~and~~ending ~~state~~before ~~tax,~~April ~~is estimated~~2, ~~to be approximately $1~~2022.5.

The effective income tax ~~rate~~ rates for the ~~six~~three-month ~~period~~ periods ended ~~September~~December 27, 2025 ~~was~~and ~~24.9%~~December ~~compared to 22.6% for the six-month period ended September~~ 28, 2024~~. The effective income tax rate for the six-month period ended September 27~~, ~~2025~~were of 24.96% ~~included~~and $222.~~6 of discrete tax benefits associated with stock-based compensation offset by $3.6 of other discrete tax expenses~~5%, ~~including a $2~~respectively.3 ~~change~~In toaddition ~~deferred taxes related~~ to ~~the acquisition of VACCO. The effective income tax rate without~~ discrete items, ~~for~~ the ~~six-month period ended September 27, 2025 would have been 24.3%. The~~ effective income tax ~~rate~~ rates for ~~the~~both ~~six-month~~these ~~period~~periods ~~ended~~were ~~September~~different ~~28,~~from ~~2024~~the ~~of 22~~U.~~6% included $1~~S.7 ofstatutory ~~discrete~~rates ~~tax~~due ~~benefits~~to ~~associated~~the ~~with stock~~foreign-~~based~~derived ~~compensation~~intangible ~~partially~~income ~~offset~~provision byand $0U.1S. ofcredit ~~other~~for ~~discrete~~increasing ~~tax~~research ~~expenses.~~activities, ~~The~~which ~~effective~~decreased ~~income~~the ~~tax~~ rate, ~~without~~and ~~discrete~~state ~~items~~income ~~for~~taxes, ~~the~~foreign ~~six-month period~~income ~~ended~~taxes, ~~September~~and 28nondeductible compensation, ~~2024~~which ~~would~~increased ~~have~~the ~~been 23~~rate.~~6%.~~

~~Global~~The ~~Minimum~~effective ~~Tax~~income tax rate for the three-month period ended December 27, 2025 of 24.6% included $0.5 of discrete tax benefits associated with stock-based compensation offset by $2.0 of other items, including a $0.7 change to deferred taxes associated with new state tax filings and $1.1 from estimated liabilities and interest in those states for prior years. The effective income tax rate without discrete items for the three-month period ended December 27, 2025 would have been 22.9%. The effective income tax rate for the three-month period ended December 28, 2024 of 22.5% included $0.8 of discrete tax benefits associated with stock-based compensation. The effective income tax rate without discrete items for the three-month period ended December 28, 2024 would have been 23.5%. The Company believes it is reasonably possible that some of its unrecognized tax positions may be effectively settled within the next 12 months due to the closing of audits and the statute of limitations expiring in various jurisdictions. The decrease in the Company’s unrecognized tax positions, pertaining primarily to federal and state credits and state tax, is estimated to be approximately $1.3.

InThe ~~October~~effective ~~2021,~~income ~~the~~tax ~~Organisation~~rate for ~~Economic~~the Conine-~~operation~~month ~~and~~period ~~Development~~ended ~~(“OECD”)~~December ~~announced~~27, an2025 ~~Inclusive~~was ~~Framework~~24.8% oncompared ~~Base~~to ~~Erosion~~22.5% ~~and~~for ~~Profit~~the ~~Shifting~~nine-month ~~including Pillar~~period ~~Two~~ended ~~Model~~December ~~Rules~~28, ~~defining~~2024. ~~the~~The ~~global~~effective income ~~minimum~~ tax, ~~which~~rate ~~calls~~ for the ~~taxation~~nine-month ofperiod ~~large~~ended ~~multinational~~December ~~corporations~~27, at2025 ~~a minimum rate~~ of ~~15%~~24.8% ~~Subsequently~~included ~~multiple~~$4.5 ~~sets~~ of ~~administrative~~discrete ~~guidance~~tax ~~have~~benefits ~~been~~associated ~~issued.~~with ~~Many non~~stock-USbased compensation ~~tax~~offset ~~jurisdictions~~by ~~have~~$7.0 ~~either~~of ~~recently enacted~~other ~~legislation~~discrete totax ~~adopt~~expenses, ~~certain~~including ~~components~~a of$2.3 ~~the~~change ~~Pillar~~to ~~Two~~deferred ~~Model~~taxes ~~Rules~~related ~~beginning~~to ~~in 2024 with~~ the ~~adoption~~acquisition of ~~additional components~~VACCO, ina ~~later~~$0.7 ~~years~~change orto ~~announced~~deferred ~~their~~taxes ~~plans~~associated towith ~~enact~~new ~~legislation~~state infilings ~~future~~and ~~years~~$1.1 ~~The~~from ~~Company~~estimated ~~has~~liabilities ~~performed~~and aninterest ~~assessment~~in ofthose ~~the~~states ~~potential~~for ~~impact~~prior toyears. ~~its~~The effective income ~~taxes~~tax asrate awithout ~~result~~discrete ofitems ~~Pillar~~for ~~Two~~the ~~and~~nine-month ~~believes~~period ~~that~~ended itDecember ~~can~~27, ~~avail~~2025 ~~itself~~would ofhave ~~the~~been ~~transitional~~23.8%. The ~~safe~~effective ~~harbor~~income ~~rules~~tax inrate ~~all jurisdictions~~for ~~in which~~ the ~~Company~~nine-month ~~operates.~~period Weended ~~will~~December ~~continue~~28, to2024 ~~monitor~~of ~~both~~22.5% ~~the~~included U$2.S.5 ~~and~~of ~~international~~discrete ~~legislative~~tax ~~developments~~benefits ~~related~~associated towith ~~Pillar~~stock-based ~~Two~~compensation topartially ~~assess~~offset ~~for~~by ~~any potential impacts~~$0.1 Weof ~~are~~other ~~continuing~~discrete totax ~~evaluate~~expenses. ~~the~~The ~~impacts~~effective ofincome ~~enacted~~tax ~~legislation~~rate ~~and~~without ~~pending legislation~~discrete toitems ~~enact~~for ~~Pillar~~the ~~Two~~nine-month ~~Model~~period ~~Rules~~ended inDecember ~~the~~28, ~~non-US~~2024 ~~tax~~would ~~jurisdictions~~have inbeen ~~which we operate~~23.6%.

~~One~~Global ~~Big~~Minimum ~~Beautiful Bill Act~~Tax

OnIn ~~July~~October 42021, ~~2025,~~ the ~~U.S.~~Organisation ~~enacted~~for ~~new~~Economic ~~legislation,~~Co-operation ~~Public~~and ~~Law~~Development ~~No:~~(“OECD”) ~~119-21,~~announced ~~The~~an ~~One~~Inclusive ~~Big~~Framework ~~Beautiful~~on ~~Bill~~Base ~~Act~~Erosion ~~("The~~and ~~Act").~~Profit ~~The~~Shifting ~~Act~~including Pillar ~~includes~~Two ~~several~~Model ~~U.S.~~Rules ~~corporate tax~~defining ~~provisions~~the global minimum tax, ~~including~~which ~~restoring~~calls ~~immediate~~for ~~deductibility~~the taxation of ~~certain~~large ~~capital~~multinational ~~expenditures,~~corporations ~~restoring~~at ~~full~~a ~~expensing~~minimum rate of ~~domestic~~15%. ~~research~~Subsequently multiple sets of administrative guidance have been issued. Many non-US tax jurisdictions have either recently ~~and~~enacted ~~development~~legislation ~~costs,~~to ~~and~~adopt ~~changes~~certain incomponents of the ~~computations~~Pillar ofTwo ~~U.S.~~Model ~~taxation~~Rules onbeginning ~~international~~in ~~earnings.~~2024 Aswith the ~~Company~~adoption ~~continues~~of toadditional ~~analyze~~components ~~the~~in ~~changes~~later years or announced their plans to enact legislation in ~~tax~~future ~~law,~~years. weThe ~~expect~~Company ~~the~~has ~~provisions~~performed an assessment of the ~~legislation~~potential impact to ~~result~~its inincome taxes as a ~~favorable~~result ~~timing~~of ~~shift~~Pillar inTwo ~~our~~and ~~U.S.~~believes ~~cash~~that ~~tax~~it ~~payments, with~~can noavail ~~material~~itself ~~impact~~of onthe ~~our~~transitional FYsafe ~~2026~~harbor ~~effective~~rules ~~tax~~in ~~rate.~~all jurisdictions ~~Due~~in towhich the ~~timing~~Company ofoperates. ~~enactment~~We ~~within~~will ~~our~~continue ~~current~~to ~~period~~monitor ~~end,~~both the ~~Company~~U.S. ~~has~~and international legislative developments related ~~undergone~~to ~~efforts~~Pillar Two to ~~reasonably~~assess ~~estimate~~for any potential impacts. We are continuing to evaluate the ~~impact~~impacts of ~~the~~enacted ~~Act~~legislation and pending legislation to ~~our~~enact ~~financial~~Pillar ~~statements~~Two ~~and~~Model ~~has~~Rules ~~reflected~~in the ~~effects~~non-US ~~within~~tax ~~the~~jurisdictions ~~consolidated financial~~in ~~statements~~which we operate.

~~12.~~One ~~Reportable~~Big ~~Segments~~Beautiful Bill Act

On July 4, 2025, the U.S. enacted new legislation, Public Law No: 119-21, The ~~Company~~One ~~operates~~Big ~~through~~Beautiful Bill Act (“The Act”). The Act includes several U.S. corporate tax provisions, including ~~two~~restoring ~~operating~~immediate ~~segments~~deductibility of certain capital expenditures, restoring full expensing of domestic research and ~~reports~~development ~~its~~costs, and ~~financial~~changes ~~results~~in ~~based~~the computations of U.S. taxation on ~~how~~international ~~its~~earnings. ~~chief~~As ~~operating~~the ~~decision~~Company ~~maker~~continues ~~makes~~to ~~operating~~analyze ~~decisions,~~the ~~assesses~~changes in tax law, we expect the ~~performance~~provisions of the ~~business,~~legislation ~~and~~to ~~allocates~~result ~~resources~~in a favorable timing shift in our U.S. ~~Our~~cash ~~operating~~tax ~~segments~~payments, ~~are~~with no material impact on our ~~reportable~~fiscal ~~segments~~2026 effective tax rate. ~~These~~We ~~reportable~~estimate ~~segments are~~the ~~Aerospace/Defense~~cash ~~and~~benefit ~~Industrial~~resulting ~~and~~from ~~are~~the ~~described~~Act ~~below~~for fiscal year 2026 will be between $25.0 and $30.0.

Aerospace/Defense. This segment represents the end markets for the Company’s highly engineered bearings and precision components used in commercial aerospace, defense aerospace, defense marine, defense ground vehicles, missiles and guided munitions, and space and satellite applications. We supply precision products for many of the commercial aircraft currently operating worldwide and are the primary bearing supplier for many of the aircraft OEMs’ product lines. Commercial and defense aerospace customers generally require precision products, often constructed of special materials and made to unique designs and specifications. Many of our aerospace bearings and engineered component products are designed and certified during the original development of the aircraft being served, which often makes us the primary bearing supplier for the life of that aircraft.17

~~Industrial~~12. ~~This segment~~Reportable represents the end markets for the Company’s highly engineered bearings and precision components used in various industrial applications including: construction, mining, forestry, energy, agricultural and other machinery; aggregate and cement handling; food and beverage manufacturing; grain, and agricultural product handling; metals and mining material handling; chemicals, oil and gas production; warehousing and logistics; manufacturing automation and semiconductor equipment; power generation; waste and water management; rail and transportation. Our products target market applications in which our engineering and manufacturing capabilities provide us with a competitive advantage in the marketplace.Segments

The Company’s ~~chief~~operates ~~operating~~through ~~decision~~two ~~maker~~operating ~~(“CODM”)~~segments isand ~~the~~reports ~~President~~its ~~and~~financial ~~Chief~~results ~~Executive~~based ~~Officer.~~on ~~The~~how ~~CODM~~its ~~uses~~chief ~~segment~~operating ~~gross~~decision ~~margin~~maker asmakes ~~the~~operating ~~primary~~decisions, ~~measurement~~assesses ofthe ~~profitability.~~performance Onof athe ~~monthly basis~~business, ~~the~~and ~~CODM~~allocates ~~considers~~resources. ~~budget-to-actual~~Our ~~variances~~operating ~~and~~segments ~~historical~~are ~~trends~~our ~~for~~reportable ~~gross~~segments. ~~margin~~These ~~when~~reportable ~~making~~segments ~~decisions~~are ~~about~~Aerospace/Defense ~~allocating~~and ~~capital~~Industrial toand ~~segments~~are described below.

~~The~~Aerospace/Defense. This ~~accounting~~segment ~~policies~~represents of the ~~reportable~~end ~~segments~~markets ~~are~~for the ~~same~~Company’s ashighly ~~those~~engineered ~~described~~bearings and precision components used in ~~Note~~commercial aerospace, 2defense aerospace, defense marine, defense ground vehicles, missiles and guided munitions, and space and satellite applications. We ~~Segment~~supply ~~performance~~precision isproducts ~~evaluated~~for ~~based~~many onof ~~segment~~the ~~net~~commercial ~~sales~~aircraft currently operating worldwide and ~~gross~~are the primary bearing supplier for ~~margin~~many of the aircraft OEMs’ product lines. ~~Where~~Commercial ~~not~~and ~~separately~~defense ~~disclosed~~aerospace customers generally require precision products, ~~corporate~~often constructed ~~costs~~of ~~are~~special ~~allocated~~materials and made to ~~each~~unique ~~segment~~designs and specifications. ~~Identifiable~~Many ~~assets~~of byour ~~reportable~~aerospace ~~segment~~bearings ~~consist~~and engineered component products are designed and certified during the original development of ~~those~~the ~~directly~~aircraft ~~identified~~being ~~with~~served, which often makes us the ~~segment’s~~primary ~~operations~~bearing supplier for the life of that aircraft.

17Industrial. This segment represents the end markets for the Company’s highly engineered bearings and precision components used in various industrial applications including: construction, mining, forestry, energy, agricultural and other machinery; aggregate and cement handling; food and beverage manufacturing; grain, and agricultural product handling; metals and mining material handling; chemicals, oil and gas production; warehousing and logistics; manufacturing automation and semiconductor equipment; power generation; waste and water management; rail and transportation. Our products target market applications in which our engineering and manufacturing capabilities provide us with a competitive advantage in the marketplace.

	Three Months Ended						Six Months Ended
	September 27, 2025			September 28, 2024			September 27, 2025			September 28, 2024
Net External Sales:
Aerospace/Defense	$	198.8		$	143.2		$	363.4		$	292.3
Industrial		256.5			254.7			527.9			511.9
	$	455.3		$	397.9		$	891.3		$	804.2
Cost of Sales:
Aerospace/Defense	$	121.9		$	86.4		$	216.3		$	172.4
Industrial		132.8			137.7			279.2			274.0
	$	254.7		$	224.1		$	495.5		$	446.4
Gross Margin:
Aerospace/Defense	$	76.9		$	56.8		$	147.1		$	119.9
Industrial		123.7			117.0			248.7			237.9
	$	200.6		$	173.8		$	395.8		$	357.8
Reconciliation of gross margin to income before income taxes:
Selling, general and administrative	$	(77.4	)	$	(69.5	)	$	(151.3	)	$	(137.1	)
Other, net		(25.4	)		(18.2	)		(45.6	)		(37.1	)
Interest expense, net		(13.4	)		(15.6	)		(25.6	)		(32.8	)
Other non-operating (expense)/income		(1.0	)		(1.1	)		(2.2	)		(1.5	)
Income before income taxes	$	83.4		$	69.4		$	171.1		$	149.3
Capital Expenditures:
Aerospace/Defense	$	8.7		$	5.4		$	15.3		$	9.2
Industrial		5.4			10.6			10.0			14.8
Corporate		2.6			0.2			7.1			1.2
	$	16.7		$	16.2		$	32.4		$	25.2
Depreciation & Amortization:
Aerospace/Defense	$	8.6		$	5.3		$	14.2		$	10.5
Industrial		22.5			24.0			45.0			47.8
Corporate		1.8			0.9			3.3			1.9
	$	32.9		$	30.2		$	62.5		$	60.2
Geographic External Sales:
Domestic	$	406.2		$	352.4		$	794.7		$	712.5
Foreign (1)		49.1			45.5			96.6			91.7
	$	455.3		$	397.9		$	891.3		$	804.2

The Company’s chief operating decision maker (“CODM”) is the President and Chief Executive Officer. The CODM uses segment gross margin as the primary measurement of profitability. On a monthly basis, the CODM considers budget-to-actual variances and historical trends for gross margin when making decisions about allocating capital to segments.

	September 27, 2025		March 29, 2025
Total Assets:
Aerospace/Defense	$	1,425.9	$	1,010.8
Industrial		3,566.2		3,594.0
Corporate		118.7		80.4
	$	5,110.8	$	4,685.2
Geographic Long-Lived Assets:
Domestic	$	392.8	$	347.0
Foreign (2)		72.0		70.6
	$	464.8	$	417.6

Segment performance is evaluated based on segment net sales and gross margin. Where not separately disclosed, corporate costs are allocated to each segment. Identifiable assets by reportable segment consist of those directly identified with the segment’s operations.

~~(1) Primarily attributable to Switzerland, Canada and Mexico.~~18

(2) Primarily attributable to Switzerland and Mexico.

	Three Months Ended						Nine Months Ended
	December 27, 2025			December 28, 2024			December 27, 2025			December 28, 2024
Net External Sales:
Aerospace/Defense	$	202.5		$	143.2		$	565.9		$	435.5
Industrial		259.1			251.2			787.0			763.1
	$	461.6		$	394.4		$	1,352.9		$	1,198.6
Cost of Sales:
Aerospace/Defense	$	121.3		$	85.3		$	337.6		$	257.7
Industrial		135.9			134.2			415.1			408.2
	$	257.2		$	219.5		$	752.7		$	665.9
Gross Margin:
Aerospace/Defense	$	81.2		$	57.9		$	228.3		$	177.8
Industrial		123.2			117.0			371.9			354.9
	$	204.4		$	174.9		$	600.2		$	532.7
Reconciliation of gross margin to income before income taxes:
Selling, general and administrative	$	(77.9	)	$	(70.1	)	$	(229.2	)	$	(207.2	)
Other, net		(23.5	)		(19.2	)		(69.1	)		(56.3	)
Interest expense, net		(13.0	)		(14.2	)		(38.6	)		(47.0	)
Other non-operating (expense)/income		(0.7	)		3.3			(2.9	)		1.8
Income before income taxes	$	89.3		$	74.7		$	260.4		$	224.0

Capital Expenditures:
Aerospace/Defense	$	12.2		$	3.0		$	27.5		$	12.2
Industrial		5.9			6.4			15.9			21.3
Corporate		4.9			1.0			12.0			2.1
	$	23.0		$	10.4		$	55.4		$	35.6
Depreciation & Amortization:
Aerospace/Defense	$	9.3		$	5.3		$	23.5		$	15.8
Industrial		21.9			23.3			66.9			71.1
Corporate		1.7			1.1			5.0			3.0
	$	32.9		$	29.7		$	95.4		$	89.9
Geographic External Sales:
Domestic	$	413.3		$	348.9		$	1,208.0		$	1,061.4
Foreign (1)		48.3			45.5			144.9			137.2
	$	461.6		$	394.4		$	1,352.9		$	1,198.6

	December 27, 2025		March 29, 2025
Total Assets:
Aerospace/Defense	$	1,461.1	$	1,010.8
Industrial		3,557.9		3,594.0
Corporate		122.6		80.4
	$	5,141.6	$	4,685.2
Geographic Long-Lived Assets:
Domestic	$	390.8	$	347.0
Foreign ⁽²⁾		84.9		70.6
	$	475.7	$	417.6

~~13.~~(1) ~~Derivative~~Primarily ~~Financial~~attributable ~~Instruments~~to Switzerland, Canada, and Mexico.

~~The~~(2) ~~Company~~Primarily isattributable ~~exposed~~ to ~~certain~~ ~~risks relating to its ongoing business operations, including market risks relating to fluctuations in interest rates and foreign~~Switzerland ~~exchange rates. Derivative financial instruments are recognized on the consolidated balance sheets as either assets or liabilities~~ and ~~are~~ ~~measured at fair value~~Mexico. Changes in the fair values of derivatives are recorded each period in earnings or accumulated other comprehensive income/(loss), depending on whether a derivative is effective as part of a hedged transaction. Gains and losses on derivative instruments reported in accumulated other comprehensive income/(loss) are subsequently included in earnings in the periods in which earnings are affected by the hedged item. The Company does not use derivative instruments for speculative purposes.

In fiscal 2023, the Company entered into a three-year U.S. dollar-denominated interest rate swap ( the “Interest Rate Swap”) with a third-party financial counterparty under the Credit Agreement (see Note 10). The Interest Rate Swap was executed to protect the Company from interest rate volatility on our variable-rate Term Loan. The Interest Rate Swap became effective December 30, 2022 and is comprised of a $600.0 notional with a maturity of three years. The notional is $100.0 as of September 27, 2025. We receive a variable rate based on one-month Term SOFR and pay a fixed rate of 4.455%. As of September 27, 2025, after giving effect to the Interest Rate Swap, approximately 57% of our debt bears interest at a fixed rate. The notional on the Interest Rate Swap amortizes as follows:19

~~Year~~13. 1:Derivative ~~$600.0~~Financial Instruments

~~Year~~The 2:Company ~~$400~~is exposed to certain risks relating to its ongoing business operations, including market risks relating to fluctuations in interest rates and foreign exchange rates.0 Derivative financial instruments are recognized on the consolidated balance sheets as either assets or liabilities and are measured at fair value. Changes in the fair values of derivatives are recorded each period in earnings or accumulated other comprehensive income/(loss), depending on whether a derivative is effective as part of a hedged transaction. Gains and losses on derivative instruments reported in accumulated other comprehensive income/(loss) are subsequently included in earnings in the periods in which earnings are affected by the hedged item. The Company does not use derivative instruments for speculative purposes.

~~Year~~In 3:fiscal 2023, the Company entered into a three-year U.S. dollar-denominated interest rate swap ( the “Interest Rate Swap”) with a third-party financial counterparty under the Credit Agreement (see Note 10). The Interest Rate Swap was executed to protect the Company from interest rate volatility on our variable-rate Term Loan. The Interest Rate Swap became effective December 30, 2022 and is comprised of a $600.0 notional with a maturity of three years. The notional was $100.0 as of December 27, 2025. We receive a variable rate based on one-month Term SOFR and pay a fixed rate of 4.455%. The notional on the Interest Rate Swap amortizes as follows:

~~The~~Year Interest Rate Swap has been designated as a cash flow hedge of the variability of the first unhedged interest payments (the hedged transactions) paid over the hedging relationship’s specified time period of three years attributable to the borrowing’s contractually specified interest index on the hedged principal of its general borrowing program or replacement or refinancing thereof. The fair value of the Swap has been disclosed in Note 6. The accumulated other comprehensive income derivative component balance, net of taxes, was a $0.1: ~~loss and a~~ $0600.2 loss at September 27, 2025 and March 29, 2025, respectively. The gain/loss reclassified from accumulated other comprehensive income/(loss) into earnings will be recorded as interest income/expense on the Interest Rate Swap and will be included in the operating section of the Company’s consolidated statements of cash flows.0

OnYear August 12, 2024, the Company entered into a three-year cross currency swap (the “Cross Currency Swap”) with a third-party financial counterparty. The objective of the Cross Currency Swap is to economically hedge the Company’s net investment in its lower-tier European subsidiary, Schaublin, against adverse changes in the Swiss franc/U.S. dollar exchange rate. The Cross Currency Swap is based upon a net investment of CHF 69.4 ($80.0 USD) notional amount with a three-year maturity date. RBC receives a fixed U.S. dollar amount on a month-to-month basis based upon a fixed annual rate of 2~~.77%~~: of the notional amount. At maturity, RBC will net-settle the principal of the Cross Currency Swap in cash with the counterparty. The fair value of the Cross Currency Swap has been disclosed in Note 6. The accumulated other comprehensive income derivative component balance, net of taxes, was a $6400.~~4 loss and $~~0.2 loss at September 27, 2025 and March 29, 2025, respectively. The decrease in the fair value of the Cross Currency Swap is primarily due to the weakening of the USD compared to the CHF during the six month period ended September 27, 2025.

~~14.~~Year ~~VACCO~~3: ~~Acquisition~~$100.0

OnThe ~~July~~Interest ~~18,~~Rate ~~2025,~~Swap ~~the~~has ~~Company~~been ~~acquired~~designated ~~the~~as ~~issued~~a ~~and~~cash ~~outstanding~~flow ~~capital~~hedge ~~stock~~ of ~~VACCO~~the ~~from~~variability ~~ESCO~~of ~~Technologies~~the ~~Inc.~~first ~~for~~unhedged ~~approximately~~interest ~~$275.0,~~payments ~~subject~~(the ~~to certain~~hedged ~~adjustments.~~transactions) ~~The~~paid ~~purchase~~over ~~price~~the hedging ~~was~~relationship’s ~~paid~~specified ~~with~~time ~~cash,~~period ~~$200.0~~ of ~~which~~three ~~was~~years ~~drawn~~attributable ~~down~~to ~~from~~the ~~our~~borrowing’s ~~Revolving~~contractually ~~Credit~~specified ~~Facility, and~~interest index on the ~~remaining~~hedged ~~$75.0~~principal ~~was~~of ~~paid~~its ~~from~~general ~~cash~~borrowing onprogram ~~hand.~~or ~~VACCO,~~replacement ~~which~~or isrefinancing ~~based~~thereof. inThe ~~South~~fair Elvalue ~~Monte,~~of ~~California,~~the isInterest aRate Swap ~~manufacturer~~has ofbeen ~~valves, manifolds,~~disclosed ~~regulators,~~in ~~filters~~Note ~~and~~6. The accumulated other ~~precision~~comprehensive ~~components~~income ~~and~~derivative ~~subsystems~~component ~~for~~balance, ~~space~~net ~~and~~of ~~naval~~taxes, ~~defense~~was ~~applications~~a $0.1 ~~This~~gain ~~acquisition~~and ~~further~~a ~~broadened~~$0.2 ~~our~~loss ~~extensive~~at ~~design~~December 27, ~~engineering~~2025 and ~~manufacturing~~March ~~capabilities~~29, ~~expanded~~2025, ~~our~~respectively. ~~product~~The ~~portfolio~~gain/loss ~~and added~~reclassified tofrom ~~our~~accumulated ~~strong~~other ~~customer~~comprehensive income/(loss) ~~relationships.~~into ~~For~~earnings ~~federal~~will ~~income~~be ~~tax~~recorded ~~purposes,~~as ~~the~~interest ~~Company~~income/expense ~~made~~on athe ~~Section~~Interest ~~338(h)(10)~~Rate ~~election~~Swap ~~that~~ and will ~~result~~be included in ~~certain~~the ~~tax~~operating section ~~benefits~~of in the ~~future.~~Company’s ~~The~~consolidated ~~Company~~statements isof ~~still~~cash ~~evaluating~~flows. ~~the~~The ~~tax~~Interest ~~benefits~~Rate ~~that~~Swap ~~will~~ended beon ~~recognized as~~December a30, ~~result~~2025 ofas ~~this~~mentioned ~~election.~~in Note 15.

19On August 12, 2024, the Company entered into a three-year cross currency swap (the “Cross Currency Swap”) with a third-party financial counterparty. The objective of the Cross Currency Swap is to economically hedge the Company’s net investment in its lower-tier European subsidiary, Schaublin, against adverse changes in the Swiss franc/U.S. dollar exchange rate. The Cross Currency Swap is based upon a net investment of CHF 69.4 ($80.0 USD) notional amount with a three-year maturity date. RBC receives a fixed U.S. dollar amount on a month-to-month basis based upon a fixed annual rate of 2.77% of the notional amount. At maturity, RBC will net-settle the principal of the Cross Currency Swap in cash with the counterparty. The fair value of the Cross Currency Swap has been disclosed in Note 6. The accumulated other comprehensive income derivative component balance, net of taxes, was a $6.8 loss and $0.2 loss at December 27, 2025 and March 29, 2025, respectively. The decrease in the fair value of the Cross Currency Swap is primarily due to the weakening of the USD compared to the CHF during the nine month period ended December 27, 2025.

~~Acquisition costs incurred in the three- and six- month periods ended September 27, 2025 totaled $0~~14.9 ~~and~~VACCO $1.0 and were recorded as period expenses and included within other, net within the consolidated statements of operations. The Company accounted for the transaction as a business combination for accounting purposes and will be included within the aerospace/defense segment of the business. The preliminary purchase price allocation is subject to change pending a final valuation of the assets and liabilities acquired. The assets acquired and liabilities assumed were recorded based on their fair values at the date of acquisition as follows:Acquisition

	July 18, 2025
Accounts receivable	$	11.2
Current contract assets		16.5
Inventory		64.0
Prepaid expenses		2.0
Property, plant and equipment		40.6
Noncurrent contract assets		2.5
Goodwill		109.9
Other intangible assets		123.1
Other noncurrent assets		0.7
Accounts payable		(6.9	)
Current contract liabilities		(38.9	)
Accrued expenses		(14.9	)
Non-current contract liabilities		(34.8	)
Net assets acquired	$	275.0

On July 18, 2025, the Company acquired the issued and outstanding capital stock of VACCO from ESCO Technologies Inc. for approximately $275.0, subject to certain adjustments (see Note 15). The purchase price was paid with cash, $200.0 of which was drawn from the Revolving Credit Facility, and the remaining $75.0 was paid from cash on hand. VACCO, which is based in South El Monte, California, is a manufacturer of valves, manifolds, regulators, filters and other precision components and subsystems for space and naval defense applications. This acquisition further broadened our extensive design, engineering and manufacturing capabilities, expanded our product portfolio, and added to our strong customer relationships. For federal income tax purposes, the Company made a Section 338(h)(10) election that will result in certain tax benefits in the future. The Company is still evaluating the tax benefits that will be recognized as a result of this election.

The goodwill associated with this acquisition is the result of expected synergies from combining operations of the acquired business with the Company’s operations and intangible assets that do not qualify for separate recognition, such as an assembled workforce.20

~~The~~Acquisition ~~fair~~costs ~~value~~incurred in of the ~~identifiable~~three- ~~intangible assets~~and ofnine- ~~$123.1~~month ~~was~~periods ~~determined~~ended ~~using~~December ~~the~~27, ~~income~~2025 ~~approach~~totaled $0.4 and ~~consists~~$1.4 ~~primarily~~and ofwere ~~customer~~recorded ~~relationships,~~as ~~funded~~period ~~backlog~~expenses and ~~a trade~~included ~~name.~~within ~~Specifically~~other, anet ~~multi-period,~~within ~~excess~~the ~~earnings~~consolidated ~~method~~statements ~~was~~of ~~utilized~~operations. The Company accounted for the ~~customer~~transaction ~~relationships~~as ~~and~~a ~~funded~~business ~~backlog,~~combination for ~~and~~accounting ~~the~~purposes ~~relief-from-royalty method~~and ~~was~~VACCO ~~utilized~~is ~~for~~included within the ~~trade~~aerospace/defense ~~name~~segment of the business. The ~~fair~~preliminary ~~value~~purchase price allocation is subject to change pending a final valuation of ~~these~~the assets and liabilities acquired, specifically the acquired intangible assets. isThe assets ~~being~~acquired ~~amortized~~and liabilities assumed were recorded based on atheir ~~straight-line~~fair ~~basis~~values ~~between four~~at ~~and~~the 22date ~~years.~~of acquisition as follows:

15. Subsequent Event

	July 18, 2025
Accounts receivable	$	11.2
Current contract assets		15.2
Inventory		64.0
Prepaid expenses		2.0
Property, plant and equipment		40.6
Noncurrent contract assets		2.5
Goodwill		111.2
Other intangible assets		123.1
Other noncurrent assets		0.7
Accounts payable		(6.9	)
Current contract liabilities		(38.9	)
Accrued expenses		(14.9	)
Non-current contract liabilities		(34.8	)
Net assets acquired	$	275.0

OnThe ~~October~~goodwill ~~28,~~associated ~~2025, the~~with ~~Credit~~this ~~Agreement~~acquisition ~~was~~is ~~amended to, among other things, (i) extend~~ the ~~expiration~~result ~~date~~ of ~~the~~expected ~~Revolving~~synergies ~~Credit Facility~~ from ~~November 2026~~combining tooperations ~~October~~of ~~2030, (ii) eliminate~~ the ~~minimum~~acquired ~~Interest~~business ~~Coverage~~with ~~Ratio Covenant from~~ the ~~Credit~~Company’s ~~Agreement,~~ operations and ~~(iii)~~intangible ~~reduce~~assets ~~the margin~~that ~~cap~~do ~~within~~not ~~the~~qualify ~~pricing~~for ~~grid~~separate onrecognition, ~~Term~~such ~~SOFR-based~~as ~~loans~~an ~~under~~assembled ~~the Revolving Credit Facility from 2~~workforce.~~00% to 1.75%.~~

OnThe ~~September~~fair 30value of the identifiable intangible assets of $123.1 was determined using the income approach and consists primarily of customer relationships, ~~2025~~funded backlog, and a trade name. Specifically, a multi-period, excess earnings method was utilized for the customer relationships and funded backlog, ~~Company~~and ~~paid~~the ~~down~~relief-from-royalty ~~$40~~method was utilized for the trade name.0 The fair value of these intangible assets is being amortized on ~~the~~a straight-line ~~Term~~basis ~~Loan~~between four and 22 years.

2015. Subsequent Events

~~Item~~On 2.December ~~Management’s~~30, 2025, the ~~Discussion~~Interest ~~and~~Rate ~~Analysis~~Swap oforiginally ~~Financial~~entered ~~Condition~~into during fiscal 2023 reached its maturity and ~~Results~~is ofno ~~Operations~~longer effective.

~~All~~Since ~~dollar~~December ~~amounts~~27, in2025, ~~this~~the ~~MD&A~~Company ~~presentation~~paid ~~are~~down ~~stated~~$67.0 inon ~~millions~~the ~~except~~Term ~~for~~Loan, ~~per~~reducing ~~share~~the ~~amounts~~outstanding ~~and~~balance ~~backlog~~to $221.0.

~~Cautionary~~On ~~Statement~~January 5, 2026, the purchase price for the issued and outstanding capital stock of VACCO was finalized, as toa ~~Forward-Looking~~result of which the Company paid ESCO an additional $1.7. ~~Information~~The final purchase price was $276.7.

The objective of the discussion and analysis is to provide material information relevant to an assessment of the financial condition and results of operations of the Company including an evaluation of the amounts and certainty of cash flows from operations and from outside sources.21

~~The~~Item ~~information~~2. ~~in this discussion~~Management’s ~~contains~~Discussion ~~“forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933~~ and ~~Section~~Analysis ~~21E~~ of ~~the Securities~~Financial ~~Exchange~~Condition Act of 1934 which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts, included in this quarterly report on Form 10-Q regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects and ~~plans~~Results ~~and objectives~~ of ~~management are “forward-looking statements” as the term is defined in the Private Securities Litigation Reform Act of 1995.~~Operations

~~The~~All ~~words~~dollar ~~“anticipates,” “believes,”~~amounts “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including, without limitation: (a) the bearing and engineered products industries are highly competitive, and this ~~competition could reduce our profitability or limit our ability to grow; (b) the loss of a major customer, or a material adverse~~ ~~change~~MD&A inpresentation a major customer’s business, could result in a material reduction in our revenues, cash flows and profitability; (c) weakness in any of the industries in which our customers operate, as well as the cyclical nature of our customers’ businesses generally, could materially reduce our revenues, cash flows and profitability; (d) future reductions or changes in U.S. government spending could negatively affect our business; (e) fluctuating supply and costs of subcomponents, raw materials and energy resources, could materially reduce our revenues, cash flows and profitability; (f) our results could be impacted by U.S. governmental trade policies and tariffs relating to the components and supplies we import from foreign vendors and foreign governmental trade policies and tariffs relating to our finished goods exported to other countries; (g) some of our products are ~~subject~~stated to certain approvals and government regulations and the loss of such approvals, or our failure to comply with such regulations, could materially reduce our revenues, cash flows and profitability; (h) the retirement of commercial aircraft could reduce our revenues, cash flows and profitability; (i) work stoppages and other labor problems could materially reduce our ability to operate our business; (j) unexpected equipment failures, catastrophic events or capacity constraints could increase our costs and reduce our sales due to production curtailments or shutdowns; (k) we may not be able to continue to make the acquisitions necessary for us to realize our growth strategy; (l) businesses that we have acquired (such as Dodge or VACCO) or that we may acquire in ~~the~~millions ~~future~~except may have liabilities that are not known to us; (m) goodwill and indefinite-lived intangibles comprise a significant portion of our total assets, and if we determine that goodwill and indefinite-lived intangibles have become impaired in the future, our results of operations and financial condition in such years may be materially and adversely affected; (n) we depend heavily on our senior management and other key personnel, the loss of whom could materially affect our financial performance and prospects; (o) our international operations are subject to risks inherent in such activities; (p) currency translation risks may have a material impact on our results of operations; (q) we may incur material losses for ~~product~~per ~~liability~~share ~~and~~amounts ~~recall-related claims; (r) our intellectual property~~ and proprietary information are valuable, and any inability to protect them could adversely affect our business and results of operations; in addition, we may be subject to infringement claims by third parties; (s) cancellation of orders in our backlog could negatively impact our revenues, cash flows and profitability; (t) our failure to maintain effective disclosure controls and procedures and internal control over financial reporting could result in material misstatements in our financial statements and a failure to meet our reporting and financial obligations, each of which could have a material adverse effect on the Company’s financial condition and the trading price of our common stock; (u) risks associated with utilizing information technology systems could adversely affect our operations; (v) our quarterly performance can be affected by the timing of government product inspections and approvals; (w) we incurred substantial debt in order to complete the Dodge and VACCO acquisitions, which could constrain our business and exposes us to the risk of defaults under our debt instruments; (x) increases in interest rates would increase the cost of servicing the Term Loan and Revolving Credit Facility and could reduce our profitability; and (y) fluctuations in interest rates and foreign exchange rates could impact future earnings and cash flows related to our Interest Rate Swap and Cross Currency Swap. Additional information regarding these and other risks and uncertainties is contained in our periodic filings with the SEC, including, without limitation, the risks identified under the heading “Risk Factors” set forth in our Annual Report. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make. We do not intend, and undertake no obligation, to update or alter any forward-looking statement.

~~The~~Cautionary ~~following~~Statement ~~section~~as isto ~~qualified~~Forward-Looking ~~in its entirety by the more detailed information, including our financial statements and the notes thereto, that appears elsewhere in this Quarterly Report.~~Information

21The objective of the discussion and analysis is to provide material information relevant to an assessment of the financial condition and results of operations of the Company including an evaluation of the amounts and certainty of cash flows from operations and from outside sources.

~~Overview~~The information in this discussion contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts, included in this quarterly report on Form 10-Q regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects and plans and objectives of management are “forward-looking statements” as the term is defined in the Private Securities Litigation Reform Act of 1995.

WeThe words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions are aintended ~~leading~~to ~~international~~identify forward-looking statements, ~~manufacturer~~although ofnot ~~highly~~all ~~engineered~~forward-looking ~~precision~~statements ~~bearings~~contain these identifying words. We may not actually achieve the plans, ~~components~~intentions or expectations disclosed in our forward-looking statements and ~~essential~~you ~~systems~~should ~~for~~not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the ~~aerospace~~plans, ~~defense~~intentions and ~~industrial~~expectations ~~industries~~disclosed in the forward-looking statements that we make. ~~Our~~These ~~precision~~forward-looking ~~solutions~~statements ~~are~~involve ~~integral~~risks and uncertainties that could cause our actual results to differ materially from those in the ~~manufacture~~forward-looking ~~and~~statements, ~~operation~~including, ofwithout ~~most~~limitation: ~~machines~~(a) the bearing and ~~mechanical~~engineered ~~systems~~products industries are highly competitive, and this competition could reduce ~~wear~~our profitability or limit our ability to ~~moving~~grow; ~~parts~~(b) the loss of a major customer, or a material adverse ~~facilitate~~change ~~proper~~in ~~power~~a ~~transmission~~major customer’s business, could result in a material reduction in our revenues, cash flows and profitability; (c) weakness in any of the industries in which our customers operate, as well as the cyclical nature of our customers’ businesses generally, could materially reduce ~~damage~~our revenues, cash flows and profitability; (d) future reductions or changes in U.S. government spending could negatively affect our business; (e) fluctuating supply and costs of subcomponents, raw materials and energy ~~loss~~resources, ~~caused~~could materially reduce our revenues, cash flows and profitability; (f) our results could be impacted by ~~friction~~U.S. ~~While~~governmental trade policies and tariffs relating to the components and supplies we ~~manufacture~~import from foreign vendors and foreign governmental trade policies and tariffs relating to our finished goods exported to other countries; (g) some of our products inare ~~all~~subject ~~major~~to certain approvals and government regulations and the loss of ~~bearing~~such ~~categories~~approvals, weor ~~focus~~our ~~primarily~~failure onto ~~the~~comply ~~higher~~with ~~end~~such ofregulations, could materially reduce our revenues, cash flows and profitability; (h) the ~~bearing~~retirement ~~market~~of ~~where~~commercial weaircraft ~~believe~~could reduce our ~~value-added~~revenues, ~~manufacturing~~cash flows and ~~engineering~~profitability; (i) work stoppages and other labor problems ~~capabilities~~could ~~enable~~materially usreduce our ability to ~~differentiate~~operate ~~ourselves~~our ~~from~~business; (j) unexpected equipment failures, catastrophic events or capacity constraints could increase our ~~competitors~~costs and ~~enhance~~reduce ~~profitability.~~our Wesales ~~believe~~due ~~our~~to ~~unique~~production ~~expertise~~curtailments ~~has~~or shutdowns; (k) we may not be able to continue to make ~~enabled~~the acquisitions necessary for us to ~~garner~~realize ~~leading~~our ~~positions~~growth strategy; (l) businesses that we have acquired (such as Dodge or VACCO) or that we may acquire in ~~many~~the future may have liabilities that are not known to us; (m) goodwill and indefinite-lived intangibles comprise a significant portion of ~~the~~our ~~product~~total ~~markets~~assets, inand ~~which~~if we ~~primarily~~determine ~~compete.~~that ~~With~~goodwill 60and ~~facilities~~indefinite-lived intangibles have become impaired in 11the ~~countries~~future, our results of ~~which~~operations 43and ~~are~~financial ~~manufacturing~~condition ~~facilities,~~in such years may be materially and adversely affected; (n) we depend heavily on our senior management and other key personnel, the loss of whom could materially affect our financial performance and prospects; (o) our international operations are subject to risks inherent in such activities; (p) currency translation risks may have ~~been~~a ~~able~~material impact on our results of operations; (q) we may incur material losses for product liability and recall-related claims; (r) our intellectual property and proprietary information are valuable, and any inability to ~~significantly~~protect ~~broaden~~them could adversely affect our ~~end~~business ~~markets~~and results of operations; in addition, we ~~products~~may be subject to infringement claims by third parties; (s) cancellation of orders in our backlog could negatively impact our revenues, cash ~~customer~~flows ~~base~~and profitability; (t) our failure to maintain effective disclosure controls and ~~geographic~~procedures and internal control over financial ~~reach.~~reporting Wecould ~~have~~result in material misstatements in our financial statements and a ~~fiscal~~failure ~~year~~to ~~consisting~~meet ofour 52reporting orand 53financial ~~weeks~~obligations, each ~~ending~~of which could have a material adverse effect on the ~~Saturday~~Company’s ~~closest~~financial condition and the trading price of our common stock; (u) risks associated with utilizing information technology systems could adversely affect our operations; (v) our quarterly performance can be affected by the timing of government product inspections and approvals; (w) we incurred substantial debt in order to ~~March 31.~~complete ~~Based~~the Dodge onand ~~this~~VACCO ~~policy~~acquisitions, ~~fiscal~~which could constrain our business and exposes us to the risk of defaults under our debt instruments; (x) ~~2026~~increases ~~will~~in ~~have~~interest 52rates ~~weeks~~would increase the cost of servicing the Term Loan and ~~fiscal~~Revolving ~~2025~~Credit ~~had~~Facility 52and ~~weeks.~~could ~~Both~~reduce our profitability; and (y) fluctuations in foreign exchange rates could impact future earnings and cash flows related to the ~~second~~Cross ~~quarter~~Currency ofSwap. ~~fiscal~~Additional information ~~2026~~regarding these and other risks and uncertainties is contained in our periodic filings with the ~~second~~SEC, ~~quarter~~including, without limitation, the risks identified under the heading “Risk Factors” set forth in our Annual Report. Our forward-looking statements do not reflect the potential impact of ~~fiscal~~any ~~2025~~future ~~had~~acquisitions, mergers, dispositions, joint ventures, or investments we may make. We do not 13intend, ~~weeks~~and undertake no obligation, to update or alter any forward-looking statement.

~~We currently operate under two reportable business segments – Aerospace/Defense and Industrial:~~22

●The ~~Aerospace/Defense.~~following ~~This~~section ~~segment~~is qualified ~~represents~~in ~~the~~its ~~end~~entirety ~~markets~~by ~~for~~ the ~~Company’s~~more ~~highly~~detailed ~~engineered bearings and precision components used in commercial aerospace~~information, ~~defense~~including ~~aerospace,~~our ~~defense~~financial ~~marine,~~statements ~~defense ground vehicles, missiles~~ and ~~guided~~the ~~munitions~~notes thereto, ~~and~~that ~~space~~appears ~~and~~elsewhere in ~~satellite~~this ~~applications~~Quarterly Report.

● Industrial. This segment represents the end markets for the Company’s highly engineered bearings, gearing and precision components used in various industrial applications including: construction, mining, forestry, energy, agricultural and other machinery; aggregate and cement handling; food and beverage manufacturing; grain, and agricultural product handling; metals and mining material handling; chemicals, oil and gas production; warehousing and logistics; manufacturing automation and semiconductor equipment; power generation; waste and water management; rail and transportation.Overview

We ~~use~~are ~~gross~~a ~~margin~~leading asinternational manufacturer of highly engineered precision bearings, components and essential systems for the aerospace, defense, and industrial industries. ~~primary~~Our ~~measurement~~precision tosolutions ~~assess~~are integral to the ~~financial~~manufacture ~~performance~~and operation of ~~each~~most ~~reportable~~machines ~~segment~~and mechanical systems, reduce wear to moving parts, facilitate proper power transmission, and reduce damage and energy loss caused by friction. ~~End~~While we manufacture products in all major bearing categories, we focus primarily on the higher end of the bearing market where we believe our value-added manufacturing and ~~channel~~engineering capabilities ~~sales~~enable ~~within~~us to differentiate ourselves from our ~~segments~~competitors and enhance profitability. We believe our unique expertise has enabled us to garner leading positions in many of the product markets in which we primarily compete. With 62 facilities in 11 countries, of which 42 are manufacturing facilities, we have been able to significantly broaden our end markets, products, customer base, and geographic ~~based~~reach. We have a fiscal year consisting of 52 or 53 weeks, ending on ~~internal~~the ~~definitions~~Saturday ~~and~~closest ~~metrics~~to ~~considered~~March 31. byBased ~~management~~on this policy, fiscal 2026 will have 52 weeks and ~~are~~fiscal ~~periodically~~2025 ~~reviewed~~had 52 weeks. Both the third quarter of fiscal 2026 and ~~updated~~the ~~prospectively~~third quarter of fiscal 2025 had 13 weeks.

~~The~~We ~~markets~~currently ~~for~~operate ~~our products~~under ~~are~~two ~~cyclical,~~reportable ~~and~~business ~~we have endeavored to mitigate this cyclicality by entering into single and sole-source relationships and long-term purchase agreements, through diversification across multiple market~~ segments ~~within~~– ~~the~~ Aerospace/Defense and Industrial ~~segments, by increasing sales to the aftermarket, and by focusing on developing highly customized solutions.~~:

~~Currently,~~● ~~our~~Aerospace/Defense. ~~strategy~~This ~~is built~~segment ~~around~~represents ~~maintaining~~the ~~our~~end ~~role~~markets asfor athe ~~leading~~Company’s ~~manufacturer of~~ highly engineered bearings and precision components ~~through~~used in commercial aerospace, defense aerospace, defense marine, defense ground vehicles, missiles and guided munitions, and space and satellite applications. We supply precision products for many of the ~~following efforts:~~commercial aircraft currently operating worldwide and are the primary bearing supplier for many of the aircraft OEMs’ product lines. Commercial and defense aerospace customers generally require precision products, often constructed of special materials and made to unique designs and specifications. Many of our aerospace bearings and engineered component products are designed and certified during the original development of the aircraft being served, which often makes us the primary bearing supplier for the life of that aircraft.

● ~~Developing~~Industrial. ~~innovative~~This ~~solutions.~~segment Byrepresents ~~leveraging~~the ~~our~~end ~~design~~markets for the Company’s highly engineered bearings and precision components used in various industrial applications including: construction, mining, forestry, energy, agricultural and other machinery; aggregate and cement handling; food and beverage manufacturing; ~~expertise~~grain, and ~~our~~agricultural ~~extensive~~product ~~customer~~handling; ~~relationships~~metals and mining material handling; chemicals, weoil ~~continue~~and togas ~~develop~~production; ~~new~~warehousing and logistics; manufacturing automation and semiconductor equipment; power generation; waste and water management; rail and transportation. Our products ~~for~~target ~~markets~~market applications in which ~~there~~our ~~are~~engineering ~~substantial~~and ~~growth~~manufacturing ~~opportunities~~capabilities provide us with a competitive advantage in the marketplace.

●We ~~Expanding~~use ~~customer~~gross ~~base~~margin ~~and~~as ~~penetrating~~the primary ~~end~~measurement ~~markets~~to assess the financial performance of each reportable segment. WeEnd ~~continually~~market ~~seek~~and ~~opportunities~~channel tosales ~~access~~within ~~new~~our ~~customers,~~segments are ~~geographic~~based ~~locations~~on internal definitions and ~~bearing~~metrics ~~platforms~~considered ~~with~~by ~~existing~~management ~~products~~and orare ~~profitable~~periodically ~~new~~reviewed ~~product~~and ~~opportunities~~updated prospectively.

22The markets for our products are cyclical, and we have endeavored to mitigate this cyclicality by entering into single and sole-source relationships and long-term purchase agreements, through diversification across multiple market segments within the Aerospace/Defense and Industrial segments, by increasing sales to the aftermarket, and by focusing on developing highly customized solutions.

●Currently, ~~Increasing~~our ~~aftermarket~~strategy ~~sales.~~is built Wearound ~~believe~~maintaining ~~that increasing~~ our ~~aftermarket~~role ~~sales~~as ofa ~~replacement~~leading ~~parts~~manufacturer ~~will further enhance the continuity and predictability~~ of ~~our~~highly ~~revenues~~engineered ~~and~~bearings ~~enhance our profitability. Such sales include sales to third party distributors,~~ and ~~sales~~precision tocomponents ~~OEMs~~through ~~for replacement products and aftermarket services. We can further increase~~ the ~~percentage of our revenues derived from the replacement market by continuing to implement several initiatives.~~following efforts:

● ~~Pursuing~~Developing ~~selective~~innovative ~~acquisitions~~solutions. ~~The~~By ~~acquisition~~leveraging ~~of businesses that complement or expand~~ our ~~operations~~design ~~has been~~ and ~~continues~~manufacturing toexpertise beand ~~an important element of~~ our ~~business~~extensive ~~strategy.~~customer Werelationships, ~~believe~~we ~~that there will~~ continue to bedevelop ~~consolidation~~new ~~within~~products ~~the~~for ~~industry~~markets ~~that~~in ~~may~~which ~~present~~there usare ~~with~~substantial ~~acquisition~~growth opportunities.

We● ~~have~~Expanding ~~demonstrated~~customer ~~expertise~~base ~~in acquiring~~ and ~~integrating~~penetrating ~~bearing~~end ~~and precision engineered component manufacturers that have complementary products or distribution channels and have provided significant margin enhancement~~markets. We ~~have~~continually ~~consistently~~seek ~~increased~~opportunities ~~the~~to ~~profitability~~access ofnew ~~acquired~~customers, ~~businesses~~geographic ~~through~~locations ~~a process of methods~~ and ~~systems~~bearing ~~improvement~~platforms ~~coupled~~ with ~~the~~existing ~~introduction~~products ofor ~~complementary~~profitable ~~and proprietary~~ new ~~products.~~product ~~Since 1992 we have completed 30 acquisitions, including VACCO, which we acquired on July 18, 2025~~opportunities. ~~These acquisitions have broadened our end markets, products, customer base and geographic reach.~~

~~Outlook~~23

~~Our~~● ~~net~~Increasing aftermarket sales. ~~for~~We ~~the three-month~~believe ~~period~~that ~~ended~~increasing ~~September~~our ~~27,~~aftermarket ~~2025~~sales ~~increased~~of ~~14.4%~~replacement ~~compared~~parts towill ~~the~~further ~~same~~enhance ~~period~~the ~~last~~continuity ~~fiscal~~and ~~year.~~predictability ~~The increase in net sales was a result~~ of ~~a 38.8% increase in~~ our ~~Aerospace/Defense~~revenues ~~segment~~ and aenhance ~~0.7% increase in~~ our ~~Industrial segment~~profitability. ~~$24.7~~Such of sales ~~included~~ ~~this~~include ~~quarter~~sales ~~came~~to ~~from~~third ~~VACCO,~~party ~~all of which were included in the Aerospace/Defense segment. Our backlog~~distributors, asand ofsales ~~September 27, 2025 was $1.6 billion, which included $0.5 billion of VACCO backlog, compared~~ to ~~$0.9~~OEMs ~~billion~~for asreplacement ofproducts ~~March~~and ~~29,~~aftermarket ~~2025~~services. ~~Our~~We ~~backlog includes~~can ~~orders~~further ~~with~~increase ~~specific conditions (such as~~ the ~~timing~~percentage of ~~delivery~~our orrevenues ~~the~~derived ~~requirement~~from tothe ~~obtain~~replacement ~~funding~~market ~~approvals~~by ~~prior~~continuing to ~~commencing~~ ~~work)~~implement ~~and/or~~several ~~that are cancellable at the customer’s discretion~~initiatives.

We● ~~continue~~Pursuing toselective ~~see the expansion of our commercial aerospace business, which experienced a 21~~acquisitions.6% ~~increase~~The inacquisition ~~net sales for the three-month period ended September 27, 2025, which included $0.4~~ of ~~sales~~businesses ~~from~~that ~~VACCO,~~complement ~~versus~~or ~~the~~expand ~~same~~our ~~period~~operations ~~last~~has ~~fiscal~~been ~~year. We anticipate this growth to continue through the rest of the current fiscal year~~ and ~~beyond.~~continues ~~Orders have continued~~ to ~~grow~~be asan ~~evidenced~~important byelement ~~the~~of ~~increase in~~ our ~~backlog.~~business ~~Defense sales, which represented approximately 41~~strategy.6% ~~of segment sales during the quarter, were up 73.3% year over year, which included $24.3 of net sales from VACCO.~~ We ~~expect~~believe ~~this~~that ~~growth~~there towill continue ~~throughout~~to ~~the~~be ~~current~~consolidation ~~fiscal~~within ~~year and beyond as we are gearing up to fulfill~~ the ~~substantial number~~industry ofthat ~~defense~~may ~~orders~~present inus ~~our~~with ~~backlog.~~acquisition ~~Our industrial business continued to demonstrate strength in distribution across several major end markets, including mining and metals, warehousing, and aggregate & cement~~opportunities.

~~The~~We ~~Company~~have ~~expects~~demonstrated ~~net~~expertise ~~sales~~in acquiring toand beintegrating ~~approximately~~bearing ~~$454.0~~and toprecision ~~$462.0~~engineered incomponent ~~the~~manufacturers ~~third~~that ~~quarter~~have ofcomplementary ~~fiscal~~products ~~2026,~~or ~~compared~~distribution tochannels ~~$394~~and have provided significant margin enhancement.4 inWe ~~the~~have ~~third~~consistently ~~quarter~~increased the profitability of ~~the~~acquired ~~prior~~businesses ~~year, for~~through a ~~growth~~process of ~~rate~~methods and systems improvement coupled with the introduction of ~~15.1%~~complementary toand 17proprietary new products.~~1%.~~ ~~Organically~~Since ~~(excluding~~1992 ~~net~~we ~~sales~~have ~~from~~completed 30 acquisitions, including VACCO), ~~net~~which ~~sales~~we ~~are~~acquired ~~expected~~on toJuly ~~grow~~18, 72025.4% toThese ~~9.5%~~acquisitions ~~compared to~~have ~~the~~broadened ~~third~~our ~~quarter~~end ofmarkets, ~~the~~products, ~~prior~~customer base, ~~year~~and geographic reach.

We believe that operating cash flows and available credit under the Revolving Credit Facility will provide adequate resources to fund internal growth initiatives for the foreseeable future, including at least the next 12 months. As of September 27, 2025, we had cash of $91.2, of which approximately $29.6 was cash held by our foreign operations. Following the end of the quarter we used $40.0 of our domestic cash to make a prepayment on the Term Loan.Outlook

23Our net sales for the three-month period ended December 27, 2025 increased 17.0% compared to the same period last fiscal year. The increase in net sales was a result of a 41.5% increase in our Aerospace/Defense segment and a 3.1% increase in our Industrial segment. $29.2 of sales included within this quarter came from VACCO. Our backlog as of December 27, 2025 was $2.1 billion, which included $0.5 billion of VACCO backlog, compared to $0.9 billion of total backlog as of March 29, 2025. Our backlog includes orders with specific conditions (such as the timing of delivery or the requirement to obtain funding approvals prior to commencing work) and/or that are cancellable at the customer’s discretion. As of December 27, 2025, approximately $1.1 billion of our backlog is related to the marine business.

~~Results~~We continue to see the expansion of ~~Operations~~our commercial aerospace business, which experienced a 21.5% increase in net sales for the three-month period ended December 27, 2025, versus the same period last fiscal year. We anticipate this growth to continue through the rest of the current fiscal year and beyond. Orders have continued to grow as evidenced by the increase in our backlog. Defense sales, which represented approximately 40.6% of segment sales during the quarter, were up 86.2% year over year. We expect this growth to continue throughout the current fiscal year and beyond as we are adding capacity to fulfill the substantial number of defense orders in our backlog. Our industrial business continued to demonstrate strength in distribution across several major end markets, including food & beverage, warehousing, and aggregate & cement.

	Three Months Ended
	September 27, 2025		September 28, 2024		$ Change		% Change
Total net sales	$	455.3	$	397.9	$	57.4		14.4	%
Net income attributable to common stockholders	$	60.0	$	48.5	$	11.5		23.7	%
Net income per-share attributable to common stockholders: diluted	$	1.90	$	1.65
Weighted average common shares: diluted		31,615,328		29,336,466

The Company expects net sales to be approximately $495.0 to $505.0 in the fourth quarter of fiscal 2026, compared to $437.7 in the fourth quarter of the prior year, for a growth rate of 13.1% to 15.4%. Excluding net sales from VACCO, net sales are expected to grow 6.4% to 8.7% compared to the fourth quarter of the prior year.

~~Our~~We ~~net~~believe ~~sales~~that ~~for the three-month~~operating ~~period~~cash ~~ended~~flows ~~September~~and ~~27,~~available ~~2025~~credit ~~increased~~under ~~14.4% compared to~~ the ~~same~~Revolving ~~period~~Credit ~~last~~Facility ~~fiscal~~will ~~year.~~provide ~~Net~~adequate ~~sales~~resources into ~~our~~fund ~~Industrial~~internal ~~segment~~growth ~~increased~~initiatives ~~0.7%~~for ~~against a strong quarter in~~ the ~~prior~~foreseeable ~~fiscal year. Net sales to aggregate & cement~~future, ~~food~~including &at ~~beverage,~~least ~~grain, warehousing, and parcel & baggage markets increased during~~ the ~~period~~next ~~while~~12 ~~machine tools and OEM oil producer sales showed weakness compared to the prior year~~months. ~~Net~~As ~~sales in our Aerospace/Defense segment increased 38.8% year over year, including approximately $24.7~~ of ~~net~~December ~~sales from VACCO. The 38.8% increase in sales was led by Defense sales~~27, ~~which were up 73.3% compared to the same period in the prior fiscal year~~2025, ~~driven~~we byhad ~~marine~~cash ~~and the acquisition~~ of ~~VACCO, which contributed~~ $24107.36, of ~~net~~which ~~sales to these end markets. Commercial OEM and the~~approximately ~~aftermarket sales increased 21~~$32.6% ~~compared~~was tocash ~~the~~held ~~same~~by ~~period~~our inforeign ~~the prior fiscal year, including $0~~operations.~~4 of net sales from VACCO. The increase in commercial aerospace sales reflected growth in orders from large OEMs as build rates escalated.~~

~~Net income attributable to common stockholders for the second quarter of fiscal 2026 was $60.0 compared to $48.5 for the same period last fiscal year.~~24

	Six Months Ended
	September 27, 2025		September 28, 2024		$ Change		% Change
Total net sales	$	891.3	$	804.2	$	87.1		10.8	%
Net income attributable to common stockholders	$	128.5	$	104.2	$	24.3		23.3	%
Net income per-share attributable to common stockholders: diluted	$	4.07	$	3.55
Weighted average common shares: diluted		31,585,721		29,316,493

Results of Operations

Our net sales for the six-month period ended September 27, 2025 increased 10.8% compared to the same period last fiscal year. Net sales in our Industrial segment increased 3.1% compared to the prior fiscal year. Net sales to aggregate and cement, and warehousing, parcel & baggage markets increased during the period. Net sales in our Aerospace/Defense segment increased 24.3% year over year, including $24.7 of net sales from VACCO. The increase in sales was led by Defense sales, which were up 41.3% compared to the same period in the prior fiscal year, driven by marine and the acquisition of VACCO, which contributed $24.3 of net sales to these end markets. Commercial OEM and the aftermarket sales increased 15.6% compared to the same period in the prior fiscal year, including $0.4 of net sales from VACCO. The increase in commercial aerospace sales reflected growth in orders from large OEMs as build rates escalated, as well as expansion in the aftermarket.

	Three Months Ended
	December 27, 2025		December 28, 2024		$ Change		% Change
Total net sales	$	461.6	$	394.4	$	67.2		17.0	%

Net income attributable to common stockholders	$	67.4	$	56.9	$	10.5		18.5	%

Net income per-share attributable to common stockholders: diluted	$	2.13	$	1.82
Weighted average common shares: diluted		31,644,592		31,222,623

~~Net~~Our ~~income~~net ~~attributable~~sales for the three-month period ended December 27, 2025 increased 17.0% compared to the same period last fiscal year. Net sales in our Industrial segment increased ~~common~~3.1% ~~stockholders~~year ~~for~~over year. Net sales to the ~~six~~aggregate ~~months~~& ~~ended~~cement, ~~September~~food 27& beverage, ~~2025~~and ~~was~~warehousing ~~$128~~markets increased during the period while mining and grain sales showed weakness compared to the prior year. Net sales in our Aerospace/Defense segment increased 41.5% year over year, led by Defense sales, which were up 86.2% compared to ~~$104~~the same period in the prior fiscal year, driven by marine and the acquisition of VACCO.2 ~~for~~Commercial OEM and aftermarket sales increased 21.5% compared to the same period ~~last~~in the prior fiscal year. The increase in commercial aerospace sales reflected growth in orders from large OEMs as build rates escalated.

24Net income attributable to common stockholders for the third quarter of fiscal 2026 was $67.4 compared to $56.9 for the same period last fiscal year.

Gross Margin

	Nine Months Ended
	December 27, 2025		December 28, 2024		$ Change		% Change
Total net sales	$	1,352.9	$	1,198.6	$	154.3		12.9	%

Net income attributable to common stockholders	$	195.9	$	161.1	$	34.8		21.6	%

Net income per-share attributable to common stockholders: diluted	$	6.20	$	5.38
Weighted average common shares: diluted		31,606,334		29,953,883

	Three Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
Gross Margin	$	200.6		$	173.8		$	26.8		15.4	%
% of net sales		44.1	%		43.7	%

Our net sales for the nine-month period ended December 27, 2025 increased 12.9% compared to the same period last fiscal year. Net sales in our Industrial segment increased 3.1% compared to the prior fiscal year. Net sales to the aggregate & cement, food & beverage, forest products, and warehousing markets increased during the period while power generation and semicon showed weakness compared to the prior year. Net sales in our Aerospace/Defense segment increased 30.0% year over year. The increase in sales was led by Defense sales, which were up 55.1% compared to the same period in the prior fiscal year, driven by marine and the acquisition of VACCO. Commercial OEM and aftermarket sales increased 17.6% compared to the same period in the prior fiscal year. The increase in commercial aerospace sales reflected growth in orders from large OEMs as build rates escalated, as well as expansion in the aftermarket.

~~Gross~~Net ~~margin~~income ~~remained~~attributable ~~strong~~to atcommon ~~44.1%~~stockholders ~~of net sales~~ for the ~~second~~nine ~~quarter~~months ofended ~~fiscal~~December ~~2026~~27, ~~compared to 43.7% for the second quarter of fiscal~~ 2025. ~~Gross~~was ~~margin for the second quarter of fiscal 2026 included~~ $0195.49 incompared ~~restructuring costs related~~ to ~~inventory rationalization efforts at one of our manufacturing plants and~~ $3161.31 offor ~~unfavorable~~the ~~purchase~~same ~~accounting~~period ~~adjustments~~last ~~associated~~fiscal ~~with the VACCO acquisition~~year.

	Six Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
Gross Margin	$	395.8		$	357.8		$	38.0		10.6	%
% of net sales		44.4	%		44.5	%

Gross margin remained strong at 44.4% of net sales for the six months ended September 27, 2025 compared to 44.5% for the same period last fiscal year. Gross margin in fiscal 2026 was impacted by $3.3 in restructuring costs related to inventory rationalization efforts at one of our manufacturing plants and $3.3 of unfavorable purchase accounting adjustments associated with the VACCO acquisition.Margin

Selling, General and Administrative

	Three Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

Gross Margin	$	204.4		$	174.9		$	29.5		16.9	%
% of net sales		44.3	%		44.3	%

	Three Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
SG&A	$	77.4		$	69.5		$	7.9		11.4	%
% of net sales		17.0	%		17.5	%

Gross margin remained strong at 44.3% of net sales for the third quarter of fiscal 2026 compared to 44.3% for the third quarter of fiscal 2025. The increase in gross margin was primarily driven by volume. Gross margin for the third quarter of fiscal 2026 included $4.2 of unfavorable purchase accounting adjustments associated with the VACCO acquisition.

SG&A for the second quarter of fiscal 2026 was $77.4, or 17.0% of net sales, as compared to $69.5, or 17.5% of net sales, for the same period of fiscal 2025. The increase in SG&A is primarily driven by our continued investment in human capital as we grow the business and $2.9 from the inclusion of VACCO.

	Nine Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

Gross Margin	$	600.2		$	532.7		$	67.5		12.7	%
% of net sales		44.4	%		44.4	%

	Six Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
SG&A	$	151.3		$	137.1		$	14.2		10.4	%
% of net sales		17.0	%		17.0	%

Gross margin remained strong at 44.4% of net sales for the nine months ended December 27, 2025 compared to 44.4% for the same period last fiscal year. The increase in gross margin was primarily driven by volume. Gross margin in fiscal 2026 was impacted by $2.9 in restructuring costs related to inventory rationalization efforts at one of our manufacturing plants and $7.5 of unfavorable purchase accounting adjustments associated with the VACCO acquisition.

~~SG&A for the six months ended September 27~~Selling, ~~2025~~General ~~was $151.3, or 17.0% of net sales, as compared to $137.1, or 17.0% of net sales, for the same period of fiscal 2025. The increase in SG&A was primarily driven by increased personnel costs~~ and ~~$2.9 from the inclusion of VACCO.~~Administrative

	Three Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

SG&A	$	77.9		$	70.1		$	7.8		11.1	%
% of net sales		16.9	%		17.8	%

~~Other~~SG&A for the third quarter of fiscal 2026 was $77.9, ~~Net~~or 16.9% of net sales, as compared to $70.1, or 17.8% of net sales, for the same period of fiscal 2025. The increase in SG&A was primarily driven by our continued investment in human capital as we grow the business and $4.1 from the inclusion of VACCO.

	Three Months Ended
	Nine Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
	December 27, 2025			December 28, 2024			$ Change		% Change
Other, net	$	25.4		$	18.2		$	7.2		39.6	%
SG&A	$	229.2		$	207.2		$	22.0		10.6	%
% of net sales		516.69	%		417.63	%

~~Other~~SG&A ~~operating expenses~~ for the ~~second~~nine ~~quarter~~months ended ofDecember ~~fiscal~~27, ~~2026~~2025 ~~totaled~~was $25229.~~4 compared to $18.~~2 ~~for the same period last fiscal year. For the second quarter of fiscal 2026~~, ~~other~~or ~~operating expenses included $20~~16.79% of ~~amortization~~net ~~of intangible assets~~sales, ~~$2.6~~as ofcompared ~~restructuring~~to ~~costs,~~ $0207.~~9 of acquisition costs and $1.~~2, ofor ~~other expense items~~17.3% ~~$2.7~~ of ~~the~~net ~~amortization~~sales, ~~expense~~for ~~incurred during~~ the same period ~~was~~of ~~related to acquired intangible assets~~fiscal ~~from the VACCO deal~~2025. ~~For~~The ~~the~~increase ~~second~~in ~~quarter~~SG&A ofwas ~~fiscal~~primarily ~~2025,~~driven ~~other~~by ~~operating~~increased ~~expenses~~personnel ~~included~~costs ~~$17.9 of amortization of intangible assets~~ and $07.50 offrom ~~restructuring~~the ~~costs~~inclusion ~~offset by $0.2~~ of ~~other items~~VACCO.

	Six Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
Other, net	$	45.6		$	37.1		$	8.5		22.9	%
% of net sales		5.1	%		4.6	%

Other ~~operating expenses for the first six months of fiscal 2026 totaled $45.6 compared to $37.1 for the same period last fiscal year. For the first six months of fiscal 2026~~, other operating expenses were comprised primarily of $38.6 of amortization of intangible assets, $3.8 of restructuring costs, $1.0 of acquisition costs and $2.2 of other items. For the first six months of fiscal 2025, other operating expenses were comprised primarily of $35.7 of amortization of intangible assets, $0.5 of restructuring costs, and $0.9 of other items.Net

Interest Expense, Net

	Three Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

Other, net	$	23.5		$	19.2		$	4.3		22.4	%
% of net sales		5.1	%		4.8	%

	Three Months Ended
	September 27, 2025			September 28, 2024			$ Change			% Change
Interest expense, net	$	13.4		$	15.6		$	(2.2	)		(14.1	)%
% of net sales		2.9	%		3.9	%

Other operating expenses for the third quarter of fiscal 2026 totaled $23.5 compared to $19.2 for the same period last fiscal year. For the third quarter of fiscal 2026, other operating expenses included $21.0 million of amortization of intangible assets, $0.4 million of acquisition costs, $0.2 of restructuring costs and $1.9 million of other items. $3.7 of the amortization expense was related to acquired intangible assets from the VACCO deal. For the third quarter of fiscal 2025, other operating expenses included $17.9 of amortization of intangible assets, $0.1 of restructuring costs and $1.2 of other items.

Interest expense, net, consists of interest charged on the Company’s debt agreements and amortization of deferred financing fees, offset by interest income (see “Liquidity and Capital Resources” below).

	Nine Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

Other, net	$	69.1		$	56.3		$	12.8		22.7	%
% of net sales		5.1	%		4.7	%

~~Interest~~Other ~~expense,~~operating ~~net, was~~expenses ~~$13.4~~ for the ~~second~~first ~~quarter~~nine months of fiscal 2026 totaled $69.1 compared to $1556.63 for the same period last fiscal year. ~~The~~For ~~decrease~~the infirst ~~interest~~nine months of ~~expense~~fiscal ~~between~~2026, ~~the~~other ~~periods~~operating ~~was~~expenses ~~due~~were tocomprised ~~the~~primarily ~~debt~~of ~~reduction~~$59.6 ~~efforts,~~of ~~partially~~amortization ~~offset~~of byintangible ~~the~~assets, ~~impact~~$1.4 of aacquisition costs, $~~200~~4.0 ~~draw~~of onrestructuring costs and $4.1 of other items. $6.4 of the ~~Revolving Credit~~amortization ~~Facility~~expense incurred during the period was related to ~~fund~~acquired intangible ~~part~~assets offrom the VACCO ~~acquisition~~deal. InFor ~~addition,~~ the ~~Cross~~first ~~Currency~~nine ~~Swap~~months ~~has~~of ~~enabled~~fiscal us2025, toother ~~better~~operating ~~manage~~expenses ~~interest~~were comprised primarily of $53.6 of amortization of intangible assets, $0.6 of restructuring costs and $2.1 of other items.

26Interest Expense, Net

	Six Months Ended
	Three Months Ended
	September 27, 2025			September 28, 2024			$ Change			% Change
	December 27, 2025			December 28, 2024			$ Change			% Change
Interest expense, net	$	2513.60		$	3214.82		$	(71.2	)		(228.05	)%
% of net sales		2.98	%		43.16	%

Interest expense, net, ~~was~~ ~~$25.6 for the first six months~~ consists of ~~fiscal~~interest ~~2026~~charged ~~compared~~on ~~to $32.8 for~~ the ~~same~~Company’s ~~period~~debt ~~last~~agreements ~~fiscal~~and ~~year.~~amortization ~~The~~of ~~decrease~~deferred ~~was~~financing ~~mainly attributable to our debt reduction efforts~~fees, ~~partially~~ offset by ~~the~~interest ~~impact~~income ~~of a $200.0 draw on the Revolver to fund the VACCO~~(see ~~acquisition.~~“Liquidity Inand ~~addition,~~Capital ~~the~~Resources” ~~Cross Currency Swap has enabled us to better manage interest costs~~below).

~~Other~~Interest ~~Non-Operating~~expense, ~~Expense~~net, was $13.0 for the third quarter of fiscal 2026 compared to $14.2 for the same period last fiscal year. The decrease in interest expense between the periods was due to the reduction of the Term Loan, partially offset by the impact of a $200.0 draw on the Revolving Credit Facility during the second quarter of fiscal 2026 to fund part of the VACCO acquisition. In addition, the Cross Currency Swap has enabled us to better manage interest costs.

	Three Months Ended
	September 27, 2025			September 28, 2024			$ Change			% Change
Other non-operating expense	$	1.0		$	1.1		$	(0.1	)		(9.1	)%
% of net sales		0.2	%		0.2	%

Other non-operating expenses were $1.0 for the second quarter of fiscal 2026 compared to $1.1 for the same period in the prior fiscal year and consisted primarily of post-retirement benefit costs and foreign exchange gains and losses.

	Nine Months Ended
	December 27, 2025			December 28, 2024			$ Change			% Change

Interest expense, net	$	38.6		$	47.0		$	(8.4	)		(17.9	)%
% of net sales		2.9	%		3.9	%

	Six Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
Other non-operating expense	$	2.2		$	1.5		$	0.7		46.7	%
% of net sales		0.2	%		0.2	%

Interest expense, net, was $38.6 for the first nine months of fiscal 2026 compared to $47.0 for the same period last fiscal year. The decrease was mainly attributable to the reduction of the Term Loan, partially offset by the impact of a $200.0 draw on the Revolver to fund the VACCO acquisition. In addition, the Cross Currency Swap has enabled us to better manage interest costs.

Other ~~non~~Non-~~operating~~Operating expenses were $2.2 for the first six months of fiscal 2026 compared to $1.5 for the same period in the prior fiscal year and consisted primarily of post-retirement benefit costs and foreign exchange gains and losses.(Income)/Expense

Income Taxes

	Three Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

Other non-operating (income) / expense	$	0.7		$	(3.3	)	$	4.0		(121.2	)%
% of net sales		0.2	%		(0.8	)%

	Three Months Ended
	September 27, 2025			September 28, 2024
Income tax expense	$	23.4		$	15.2
Effective tax rate		28.0	%		21.9	%

Other non-operating expenses were $0.7 for the third quarter of fiscal 2026 compared to $3.3 of other non-operating income for the same period in the prior fiscal year and consisted primarily of post-retirement benefit costs and foreign exchange gains and losses.

	Nine Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

Other non-operating (income) / expense	$	2.9		$	(1.8	)	$	4.7		(261.1	)%
% of net sales		0.2	%		(0.1	)%

~~Income~~Other ~~tax~~non-operating ~~expense for the~~expenses ~~three-month~~were ~~period ended September 27, 2025 was~~ $~~23.4 compared to $15.~~2 ~~for the three-month period ended September 28, 2024~~.9 ~~Our effective income tax rate~~ for the ~~three-month~~first ~~period~~nine ~~ended~~months ~~September~~of ~~27,~~fiscal ~~2025~~2026 ~~was 28.0%~~ compared to ~~21.9% for the three-month period ended September 28, 2024. The effective income tax rate for the three-month period ended September 27, 2025 of 28.0% included~~ $01.38 of ~~tax~~other ~~benefits associated with stock~~non-~~based~~operating ~~compensation offset by $2.4 of other items, including a $2.3 change to deferred taxes related to the acquisition of VACCO. The effective~~ income ~~tax rate without discrete items~~ for the ~~three-month~~same period ~~ended~~in ~~September 27, 2025 would have been 25.6%. The effective income tax rate for~~ the ~~three-month~~prior ~~period ended September 28, 2024 of 21.9% included $1.1 of discrete tax benefits associated with stock-based~~fiscal ~~compensation~~year ~~which~~and ~~was~~consisted ~~slightly~~primarily ~~offset by $0.1~~ of ~~other tax expenses. The effective income tax rate without discrete items for the three~~post-~~month period~~retirement ~~ended~~benefit ~~September~~costs ~~28,~~and ~~2024~~foreign ~~would~~exchange ~~have~~gains ~~been~~and 23losses.~~4%.~~

	Six Months Ended
	September 27, 2025			September 28, 2024
Income tax expense	$	42.6		$	33.7
Effective tax rate		24.9	%		22.6	%

Income Taxes

Income tax expense for the six-month period ended September 27, 2025 was $42.6 compared to $33.7 for the six-month period ended September 28, 2024. Our effective income tax rate for the six-month period ended September 27, 2025 was 24.9% compared to 22.6% for the six-month period ended September 28, 2024. The effective income tax rate for the six-month period ended September 27, 2025 of 24.9% included $2.6 of tax benefits associated with stock-based compensation offset by $3.6 of other tax expenses, including a $2.3 change to deferred taxes related to the acquisition of VACCO. The effective income tax rate without discrete items for the six-month period ended September 27, 2025 would have been 24.3%. The effective income tax rate for the six-month period ended September 28, 2024 of 22.6% included $1.7 of tax benefits associated with stock-based compensation which was slightly offset by $0.1 of other tax expenses. The effective income tax rate without discrete items for the six-month period ended September 28, 2024 would have been 23.6%.

	Three Months Ended
	December 27, 2025			December 28, 2024

Income tax expense	$	21.9		$	16.8
Effective tax rate		24.6	%		22.5	%

~~Segment~~Income ~~Information~~tax expense for the three-month period ended December 27, 2025 was $21.9 compared to $16.8 for the three-month period ended December 28, 2024. Our effective income tax rate for the three-month period ended December 27, 2025 was 24.6% compared to 22.5% for the three-month period ended December 28, 2024. The effective income tax rate for the three-month period ended December 27, 2025 of 24.6% included $0.5 of discrete tax benefits associated with stock-based compensation offset by $2.0 of other items, including a $0.7 change to deferred taxes associated with new state tax filings and $1.1 from estimated liabilities and interest in those states for prior years. The effective income tax rate without discrete items for the three-month period ended December 27, 2025 would have been 22.9%. The effective income tax rate for the three-month period ended December 28, 2024 of 22.5% included $0.8 of discrete tax benefits associated with stock-based compensation. The effective income tax rate without discrete items for the three-month period ended December 28, 2024 would have been 23.5%.

We report our financial results under two operating segments: Aerospace/Defense and Industrial. The CODM uses gross margin as the primary measurement to assess the financial performance of each reportable segment. End market and channel sales within our segments are based on internal definitions and metrics considered by management and are periodically reviewed and updated prospectively.28

Aerospace/Defense Segment

	Nine Months Ended
	December 27, 2025			December 28, 2024

Income tax expense	$	64.5		$	50.5
Effective tax rate		24.8	%		22.5	%

	Three Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
Total net sales	$	198.8		$	143.2		$	55.6		38.8	%
Gross margin	$	76.9		$	56.8		$	20.1		35.4	%
% of segment net sales		38.7	%		39.7	%
SG&A	$	14.4		$	10.4		$	4.0		38.5	%
% of segment net sales		7.2	%		7.2	%

Income tax expense for the nine-month period ended December 27, 2025 was $64.5 compared to $50.5 for the nine-month period ended December 28, 2024. Our effective income tax rate for the nine-month period ended December 27, 2025 was 24.8% compared to 22.5% for the nine-month period ended December 28, 2024. The effective income tax rate for the nine-month period ended December 27, 2025 of 24.8% included $4.5 of discrete tax benefits associated with stock-based compensation offset by $7.0 of other discrete tax expenses, including a $2.3 change to deferred taxes related to the acquisition of VACCO, a $0.7 change to deferred taxes associated with new state filings and $1.1 from estimated liabilities and interest in those states for prior years. The effective income tax rate without discrete items for the nine-month period ended December 27, 2025 would have been 23.8%. The effective income tax rate for the nine-month period ended December 28, 2024 of 22.5% included $2.5 of tax benefits associated with stock-based compensation which was slightly offset by $0.1 of other tax expenses. The effective income tax rate without discrete items for the nine-month period ended December 28, 2024 would have been 23.6%.

~~Net~~Segment sales increased $55.6, or 38.8%, for the three months ended September 27, 2025 compared to the same period last fiscal year. Our commercial aerospace markets, which consisted of $96.5 of OEM sales and $19.7 of distribution and aftermarket sales, increased by 21.6% compared to fiscal 2025 when OEM net sales were $75.4 and distribution and aftermarket net sales were $20.1. The OEM markets have continued to improve as build rates have steadily increased over the last several months. Our defense markets, which consisted of $62.5 of OEM and $20.1 of distribution and aftermarket, increased by 73.3% compared to fiscal 2025 when OEM net sales were $35.5 and distribution and aftermarket net sales were $12.2. The increase in defense sales was driven by marine and missiles and reflects continued growth in demand which is evident by our growing backlog. Net sales for the three months ended September 27, 2025 included $24.7 of net sales from VACCO, of which $0.4 were to commercial OEM markets, $18.7 were to defense OEM markets, and $5.6 were to defense distribution and aftermarket.Information

28We report our financial results under two operating segments: Aerospace/Defense and Industrial. The CODM uses gross margin as the primary measurement of profitability of each reportable segment. End market and channel sales within our segments are based on internal definitions and metrics considered by management and are periodically reviewed and updated prospectively.

~~Gross~~Aerospace/Defense margin as a percentage of segment net sales was 38.7% for the second quarter of fiscal 2026 compared to 39.7% for the same period last fiscal year. Gross margin for the second quarter of fiscal 2026 was unfavorably impacted by a $3.3 purchase accounting adjustment related to the VACCO acquisition. The decrease in gross margin as a percentage of net sales was primarily driven by this, partially offset by efficiencies achieved at the plants in part due to increased sales volumes and favorable product mix. The effects of the purchase accounting are expected to cease during the first quarter of fiscal 2027. Including the impact of purchasing accounting, VACCO contributed $3.2 of gross margin in the second quarter of fiscal 2026.Segment

	Six Months Ended
	Three Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
	December 27, 2025			December 28, 2024			$ Change		% Change
Total net sales	$	~~363~~202.45		$	~~292~~143.32		$	7159.13		2441.35	%
Gross margin	$	~~147~~81.12		$	~~119~~57.9		$	2723.23		2240.72	%
% of segment net sales		40.51	%		4140.05	%
SG&A	$	2615.48		$	2010.74		$	5.74		2751.59	%
% of segment net sales		7.38	%		7.13	%

Net sales increased $7159.13, or 2441.35%, for the ~~first~~three ~~six~~ months ofended ~~fiscal~~December ~~2026~~27, 2025 compared to the same period last fiscal year. ~~The~~Our ~~24.3% increase was primarily driven by a 41.3% increase in our defense market, while our~~ commercial aerospace ~~market was up 15.6% year over year. Commercial aerospace net sales~~markets, which consisted of $~~180~~100.17 of OEM net sales and $4219.74 of distribution and aftermarket net sales, increased by 1521.65% compared to ~~fiscal~~ fiscal 2025 when OEM net sales were $~~153~~78.90 and distribution and aftermarket net sales were $3820.9. The OEM markets have continued to improve as build rates have steadily increased over the last several months. Our defense markets, which consisted of $~~103~~60.10 of OEM net sales and $3722.5 4 of distribution and aftermarket net sales, increased by 4186.32% compared to fiscal 2025 when OEM net sales were $7532.75 and distribution and aftermarket net sales were $2311.8. ~~Net~~The ~~sales~~increase ~~for~~in ~~the~~defense ~~six~~sales ~~months~~was ~~ended~~driven ~~September~~by ~~27,~~marine ~~2025~~and ~~included $24.7~~missiles ofand ~~net~~reflects ~~sales~~continued ~~from~~growth ~~VACCO,~~in of demand which ~~$0.4~~is ~~were~~evident toby ~~commercial~~our ~~OEM~~growing ~~markets, $18~~backlog.7 ~~were~~The toacquisition ~~defense~~of ~~OEM~~VACCO ~~markets,~~also ~~and~~contributed ~~$5.6 were~~ to ~~defense distribution~~the ~~and~~sales ~~aftermarket~~growth.

Gross margin as a percentage of segment net sales was 40.5% for the second quarter of fiscal 2026 compared to 41.0% for the same period last fiscal year. Gross margin for the second quarter of fiscal 2026 was unfavorably impacted by a $3.3 purchase accounting adjustment related to the VACCO acquisition partially offset by increased efficiencies achieved at the plants due to increased sales volumes and favorable product mix. VACCO contributed $3.2 of gross margin in the second quarter of fiscal 2026.29

29Gross margin as a percentage of segment net sales was 40.1% for the third quarter of fiscal 2026 compared to 40.5% for the same period last fiscal year. Gross margin for the third quarter of fiscal 2026 was unfavorably impacted by a $4.2 purchase accounting adjustment related to the VACCO acquisition. The decrease in gross margin as a percentage of net sales was primarily driven by this, partially offset by efficiencies achieved at the plants in part due to increased sales volumes and favorable product mix. The effects of the purchase accounting are expected to cease during the first quarter of fiscal 2027. Including the impact of purchasing accounting, VACCO contributed $5.9 of gross margin in the third quarter of fiscal 2026.

Industrial Segment

	Nine Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

Total net sales	$	565.9		$	435.5		$	130.4		30.0	%

Gross margin	$	228.3		$	177.8		$	50.5		28.4	%
% of segment net sales		40.3	%		40.8	%

SG&A	$	42.2		$	31.1		$	11.1		35.7	%
% of segment net sales		7.5	%		7.1	%

	Three Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
Total net sales	$	256.5		$	254.7		$	1.8		0.7	%
Gross margin	$	123.7		$	117.0		$	6.7		5.7	%
% of segment net sales		48.2	%		46.0	%
SG&A	$	34.1		$	33.1		$	1.0		3.0	%
% of segment net sales		13.3	%		13.0	%

Net sales increased $130.4, or 30.0%, for the first nine months of fiscal 2026 compared to the same period last fiscal year. The 30.0% increase was primarily driven by a 55.1% increase in our defense markets, while our commercial aerospace markets were up 17.6% year over year. Commercial aerospace net sales, which consisted of $280.8 of OEM net sales and $62.1 of distribution and aftermarket net sales, increased by 17.6% compared to fiscal 2025 when OEM net sales were $231.9 and distribution and aftermarket net sales were $59.8. Our defense markets, which consisted of $163.1 of OEM net sales and $59.9 of distribution and aftermarket net sales, increased by 55.1% compared to fiscal 2025 when OEM net sales were $108.2 and distribution and aftermarket net sales were $35.6. The acquisition of VACCO also contributed to the sales growth.

~~Net~~Gross ~~sales~~margin ~~increased~~as ~~$1.8,~~a orpercentage of 0segment net sales was 40.73%, for the ~~three months~~third ~~ended~~quarter ~~September~~of ~~27,~~fiscal ~~2025~~2026 compared to 40.8% for the same period last fiscal year. WeGross ~~saw~~margin for ~~improvements~~the infirst ~~many~~nine months of ~~our~~fiscal ~~end~~2026 ~~markets,~~was ~~including aggregate~~unfavorably &impacted ~~cement,~~by ~~food~~a &$7.5 ~~beverage,~~purchase ~~grain,~~accounting ~~warehousing,~~adjustment ~~and parcel~~related &to ~~baggage~~the ~~markets,~~VACCO acquisition partially offset by ~~softness~~increased inefficiencies ~~machine~~achieved ~~tools~~at ~~and~~the ~~OEM~~plants ~~oil~~due ~~producers.~~to ~~Industrial OEM~~increased sales ~~were~~volumes ~~$78.7~~ and ~~$82.7~~favorable ~~for~~product ~~the three month periods ended September 27, 2025 and September 28, 2024, respectively~~mix. ~~Industrial~~VACCO ~~sales~~contributed ~~to distribution and the aftermarket were~~ $~~177~~9.81 ~~and~~of ~~$172.0~~gross ~~for~~margin in the ~~three~~first ~~month~~nine ~~periods~~months ~~ended~~of ~~September~~fiscal ~~27, 2025 and September 28, 2024, respectively~~2026.

Gross margin for the three months ended September 27, 2025 was 48.2% of net sales, compared to 46.0% in the comparable period in fiscal 2025. Gross margin for the three months ended September 27, 2025 was impacted by $0.4 in restructuring costs related to inventory rationalization efforts at one of our manufacturing plants.30

	Six Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
Total net sales	$	527.9		$	511.9		$	16.0		3.1	%
Gross margin	$	248.7		$	237.9		$	10.8		4.5	%
% of segment net sales		47.1	%		46.5	%
SG&A	$	68.7		$	67.2		$	1.5		2.2	%
% of segment net sales		13.0	%		13.1	%

Industrial Segment

Net sales increased $16.0, or 3.1%, for the first six months of fiscal 2026 compared to the same period last fiscal year. We saw strength in many of our end markets, including the mining and metals, aggregates & cement, logistics and warehousing, grain, and food & beverage markets offset by weakness in the power generation, machine tools and OEM oil producer markets. Industrial OEM sales were $157.2 and $164.5 for the six month periods ended September 27, 2025 and September 28, 2024, respectively. Industrial sales to distribution and the aftermarket were $370.7 and $347.4 for the six month periods ended September 27, 2025 and September 28, 2024, respectively.

	Three Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

Total net sales	$	259.1		$	251.2		$	7.9		3.1	%

Gross margin	$	123.2		$	117.0		$	6.2		5.3	%
% of segment net sales		47.5	%		46.5	%

SG&A	$	35.6		$	34.2		$	1.4		4.1	%
% of segment net sales		13.7	%		13.6	%

~~Gross~~Net ~~margin~~sales ~~for~~increased ~~the first six months of fiscal~~$7.9, ~~2026~~or ~~was 47~~3.1%, offor ~~net~~the ~~sales~~three months ended December 27, 2025 compared to ~~46.5% in~~ the same period last fiscal year. ~~Gross~~We ~~margin~~saw ~~for~~improvements ~~the~~in ~~six~~many ~~months~~of ~~ended~~our end ~~September~~markets, 27including aggregate & cement, ~~2025~~ ~~was~~food ~~impacted~~& beverage, and warehousing, partially offset by softness in mining and grain. Industrial OEM sales were $377.39 inand ~~restructuring~~$72.7 ~~costs~~for ~~related~~the tothree ~~inventory~~month ~~rationalization~~periods ~~efforts~~ended atDecember ~~one~~27, of2025 ~~our~~and ~~manufacturing~~December ~~plants~~28, 2024, respectively. ~~The~~Industrial ~~increase~~sales into ~~gross~~distribution ~~margin~~and ~~was~~the ~~driven~~aftermarket bywere ~~manufacturing~~$181.2 ~~efficiencies~~and $178.5 for the three month periods ended December 27, 2025 and ~~product~~December ~~mix~~28, 2024, respectively.

30Gross margin for the three months ended December 27, 2025 was 47.5% of net sales, compared to 46.5% in the comparable period in fiscal 2025. The improved gross margin is primarily driven by product mix.

Corporate

	Nine Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

Total net sales	$	787.0		$	763.1		$	23.9		3.1	%

Gross margin	$	371.9		$	354.9		$	17.0		4.8	%
% of segment net sales		47.3	%		46.5	%

SG&A	$	104.3		$	101.4		$	2.9		2.9	%
% of segment net sales		13.3	%		13.3	%

	Three Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
SG&A	$	28.9		$	26.0		$	2.9		11.2	%
% of total net sales		6.3	%		6.5	%

Net sales increased $23.9, or 3.1%, for the first nine months of fiscal 2026 compared to the same period last fiscal year. We saw strength in many of our end markets, including aggregate & cement, food & beverage, forest products, and warehousing, partially offset by weakness in power generation and semicon. Industrial OEM sales were $235.1 and $237.2 for the nine month periods ended December 27, 2025 and December 28, 2024, respectively. Industrial sales to distribution and the aftermarket were $551.9 and $525.9 for the nine month periods ended December 27, 2025 and December 28, 2024, respectively.

~~Corporate~~Gross ~~SG&A~~margin ~~was $28.9, or 6.3% of net sales,~~ for the ~~second~~first nine ~~quarter~~months of fiscal 2026 ~~compared~~was ~~to $26~~47.~~0, or 6.5~~3% of net sales, ~~for~~compared to 46.5% in the same period last fiscal year. ~~The~~Gross ~~quarter~~margin ~~over~~for the nine months ~~quarter~~ended ~~increase~~December 27, 2025 was ~~primarily~~impacted ~~due~~by $2.9 in restructuring costs related to aninventory rationalization efforts at one of our manufacturing plants. The increase in ~~personnel~~gross ~~costs,~~margin ~~partially~~was ~~offset~~driven by amanufacturing ~~reduction~~efficiencies inand ~~professional~~product ~~fees~~mix.

	Six Months Ended
	September 27, 2025			September 28, 2024			$ Change		% Change
SG&A	$	56.2		$	49.2		$	7.0		14.2	%
% of total net sales		6.3	%		6.1	%

Corporate SG&A increased $7.0 for the first six months of fiscal 2026 compared to the same period last fiscal year due to increases in personnel costs and stock compensation costs, partially offset by a reduction in professional fees.

Liquidity and Capital Resources

	Three Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

SG&A	$	26.5		$	25.5		$	1.0		3.9	%
% of total net sales		5.7	%		6.5	%

~~Our~~Corporate ~~capital~~SG&A ~~requirements~~was ~~include manufacturing~~$26.5, ~~equipment~~or ~~and materials~~3.9% Weof ~~have~~net ~~historically fueled our growth~~sales, infor ~~part,~~the ~~through~~third ~~acquisitions.~~quarter Weof ~~have~~fiscal ~~historically~~2026 ~~met~~compared ~~our~~to ~~working capital~~$25.5, ~~capital~~ ~~expenditure~~or ~~and~~6.5% ~~acquisition~~of ~~funding needs through our~~ net ~~cash flows provided by operations~~sales, ~~various~~for ~~debt~~the ~~arrangements~~same ~~and~~period ~~public sales~~last offiscal ~~equity~~year. The Wequarter ~~believe~~over ~~that~~quarter ~~operating~~increase ~~cash~~was ~~flows~~primarily ~~and~~due ~~available~~to ~~credit~~an ~~under~~increase ~~the Revolving Credit Facility (which expires~~ in ~~October 2030)~~stock ~~will~~compensation ~~provide~~costs, ~~adequate~~partially ~~resources~~offset toby ~~fund~~a ~~internal~~reduction ~~growth~~in ~~initiatives for at least the next 12 months~~personnel costs.

Our ability to meet future working capital, capital expenditure and debt service requirements will depend on our future financial performance, which could be affected by a range of economic, competitive and business factors, many of which are outside of our control. These include interest rates, cyclical changes in our end markets, the imposition of trade tariffs, increased prices for steel and other supplies, and our ability to pass through tariffs and price increases on a timely basis. In addition, future acquisitions could have a significant impact on our liquidity position and our need for additional funds.

	Nine Months Ended
	December 27, 2025			December 28, 2024			$ Change		% Change

SG&A	$	82.7		$	74.7		$	8.0		10.7	%
% of total net sales		6.1	%		6.2	%

~~From~~Corporate ~~time~~SG&A ~~to time, we evaluate~~increased ~~our existing facilities and operations and their strategic importance to us~~$8.0 Iffor wethe ~~determine~~first ~~that~~nine amonths ~~given~~of ~~facility~~fiscal or2026 ~~operation~~compared ~~does~~to ~~not have~~the ~~future~~same ~~strategic~~period ~~importance,~~last wefiscal ~~may~~year ~~sell,~~due ~~relocate,~~to ~~consolidate~~increases orin ~~otherwise~~personnel ~~dispose~~costs ofand ~~that facility or operations. Although we~~stock ~~believe~~compensation ~~our~~costs, ~~operations~~partially ~~would~~offset ~~not be materially impaired~~ by ~~such~~a ~~dispositions,~~reduction ~~relocations or consolidations, we could incur significant cash or non-cash charges~~ in ~~connection~~professional ~~with them~~fees.

Liquidity and Capital Resources

AsOur ofcapital ~~September 27, 2025,~~requirements weinclude ~~had~~manufacturing ~~cash~~equipment ofand ~~$91~~materials.2, ofWe ~~which~~have ~~approximately~~historically ~~$29.6~~fueled ~~was~~our ~~cash~~growth, ~~held~~in bypart, ~~our~~through ~~foreign operations~~acquisitions. We ~~expect~~have ~~that~~historically met our ~~undistributed~~working ~~foreign~~capital, ~~earnings will~~capital beexpenditure ~~re-invested~~and ~~indefinitely~~acquisition ~~for~~funding ~~working~~needs ~~capital,~~through ~~internal~~our ~~growth,~~net ~~and~~cash ~~acquisitions~~flows ~~for~~provided ~~and~~ by ~~our~~operations, ~~foreign~~various debt ~~subsidiaries,~~arrangements ~~with~~and ~~the exception~~public sales of ~~our~~equity. ~~Canadian~~We ~~operations~~believe asthat ~~there~~operating ~~are~~cash noflows ~~current~~and ~~plans~~available tocredit ~~expand~~under the ~~sales~~Revolving ~~operations~~Credit ~~within~~Facility (which ~~that~~expires ~~jurisdiction.~~in AsOctober ~~discussed in~~2030) ~~further~~will ~~detail~~provide ~~below,~~adequate weresources ~~also~~to ~~have~~fund ~~the~~internal ~~ability~~growth toinitiatives ~~borrow~~for ~~money~~at ~~from~~least ~~our~~the ~~existing~~next ~~credit~~12 ~~facilities~~months.

31Our ability to meet future working capital, capital expenditure and debt service requirements will depend on our future financial performance, which could be affected by a range of economic, competitive and business factors, many of which are outside of our control. These include interest rates, cyclical changes in our end markets, the imposition of trade tariffs, increased prices for steel and other supplies, and our ability to pass through tariffs and price increases on a timely basis. In addition, future acquisitions could have a significant impact on our liquidity position and our need for additional funds.

~~Domestic~~From ~~Credit~~time ~~Facility~~to time, we evaluate our existing facilities and operations and their strategic importance to us. If we determine that a given facility or operation does not have future strategic importance, we may sell, relocate, consolidate or otherwise dispose of that facility or operations. Although we believe our operations would not be materially impaired by such dispositions, relocations or consolidations, we could incur significant cash or non-cash charges in connection with them.

The Credit Agreement, which was entered into in fiscal 2022 and amended in fiscal 2023 and again on October 28, 2025, provides the Company with (a) the $1,300.0 Term Loan, which was used to fund a portion of the purchase price for the acquisition of Dodge and to pay related fees and expenses, and (b) the $500.0 Revolving Credit Facility.32

Amounts outstanding under the Facilities generally bear interest at either, at the Company’s option, (a) a base rate determined by reference to the higher of (i) Wells Fargo’s prime lending rate, (ii) the federal funds effective rate plus 0.50% and (iii) Term SOFR plus 1.00% or (b) Term SOFR plus a credit spread adjustment of 0.10% plus a margin ranging from 0.75% to a cap of 1.75% in the case of loans under the Revolving Credit Facility and 2.00% in the case of the Term Loan, depending on the Company’s consolidated ratio of total net debt to consolidated EBITDA. The Facilities are subject to a SOFR floor of 0.00%. As of September 27, 2025, the Company’s margin was 0.75% for SOFR loans, the commitment fee rate was 0.175%, and the letter of credit fee rate was 0.75%. A portion of the Term Loan is subject to a fixed-rate interest swap.Liquidity

~~The~~As ~~Term~~of ~~Loan~~December ~~matures~~27, ~~in November 2026 and amortizes~~2025, inwe ~~quarterly~~had ~~installments~~cash ~~with~~of ~~the~~$107.6, ~~balance~~of ~~payable~~which onapproximately ~~the maturity date~~$32.6 ~~The~~was ~~Company~~cash ~~can~~held ~~elect~~by toour ~~prepay~~foreign ~~some~~operations. orWe ~~all~~expect ofthat ~~the~~our ~~outstanding~~undistributed foreign ~~balance~~earnings ~~from~~will ~~time~~be tore-invested ~~time~~indefinitely ~~without~~for ~~penalty~~working capital, ~~which~~internal ~~will~~growth, ~~offset~~and ~~future~~acquisitions ~~quarterly~~for ~~amortization~~and ~~installments.~~by ~~Due~~our toforeign ~~prepayments previously made~~subsidiaries, with the ~~required~~exception ~~future~~of ~~principal~~our ~~payments~~Canadian onoperations ~~the~~as ~~Term~~there ~~Loan~~ are ~~$0 for~~no ~~fiscal~~current ~~2026,~~plans ~~and~~to ~~$368.0 for~~expand ~~fiscal~~the ~~2027.~~sales ~~The~~operations ~~Revolving Credit~~within ~~Facility~~that ~~expires~~jurisdiction. As discussed in ~~October~~further ~~2030~~detail below, atwe ~~which~~also ~~time~~have ~~all~~the ~~amounts~~ability ~~outstanding~~to ~~under~~borrow ~~the~~money ~~Revolving~~from ~~Credit~~our ~~Facility~~existing ~~will~~credit ~~be payable~~facilities.

~~The~~Domestic Credit Agreement requires the Company to comply with various covenants, including a maximum Total Net Leverage Ratio (as defined in the Credit Agreement) of 4.50:1.00 (provided that, such maximum ratio may be increased by the Company by 0.50:1.00 for a period of 12 months after the consummation of a material acquisition (provided that there may be only one such increase in effect at any one time)).Facility

The Credit Agreement, ~~allows~~which ~~the~~was ~~Company~~entered ~~to,~~into ~~among~~in ~~other~~fiscal ~~things,~~2022 ~~make~~and ~~distributions~~amended toin ~~stockholders,~~fiscal ~~repurchase~~2023 ~~its~~and ~~stock~~again on October 28, ~~incur~~2025, ~~other~~provides ~~debt~~the orCompany ~~liens,~~with or(a) ~~acquire~~the or$1,300.0 Term ~~dispose~~Loan, which was used to fund a portion of ~~assets~~the ~~provided~~purchase ~~that~~price for the ~~Company~~acquisition ~~complies~~of ~~with~~Dodge ~~certain~~and ~~requirements~~to pay related fees and ~~limitations~~expenses, ofand (b) the $500.0 Revolving Credit ~~Agreement~~Facility.

~~The~~Amounts outstanding under the Facilities generally bear interest at either, at the Company’s ~~domestic subsidiaries~~option, ~~have~~(a) ~~guaranteed~~a base rate determined by reference to the ~~Company~~higher of (i) Wells Fargo’s ~~obligations~~prime lending rate, (ii) the federal funds effective rate plus 0.50% and (iii) Term SOFR plus 1.00% or (b) Term SOFR plus a credit spread adjustment of 0.10% plus a margin ranging from 0.75% to a cap of 1.75% in the case of loans under the Revolving Credit ~~Agreement,~~Facility and 2.00% in the case of the Term Loan, depending on the Company’s ~~obligations~~consolidated ~~and~~ratio ~~the~~of ~~domestic subsidiaries’~~total ~~guaranty~~net ~~are~~debt ~~secured~~to byconsolidated EBITDA. The Facilities are subject to a ~~pledge~~SOFR floor of ~~substantially~~0.00%. ~~all~~As of ~~the~~December ~~assets~~27, of2025, the Company’s margin was 1.00% for SOFR loans, the commitment fee rate was 0.175%, and ~~its~~the ~~domestic~~letter ~~subsidiaries~~of credit fee rate was 1.00%.

AsThe ofTerm ~~September~~Loan ~~27,~~matures ~~2025,~~in ~~$368.0~~November ~~was~~2026 ~~outstanding~~and ~~under~~amortizes ~~the~~in ~~Term~~quarterly ~~Loan,~~installments ~~$3.7~~with of the ~~Revolving~~balance ~~Credit~~payable ~~Facility~~on ~~was~~the ~~being~~maturity ~~utilized~~date. toThe ~~provide~~Company ~~letters~~can ofelect ~~credit~~ to prepay ~~secure~~some or all of the ~~Company’s~~outstanding ~~obligations~~balance ~~relating~~from time to ~~certain~~time ~~insurance~~without ~~programs~~penalty, ~~and~~which ~~$200.0~~will ofoffset ~~the~~future ~~Revolving~~quarterly ~~Credit~~amortization ~~Facility~~installments. Due ~~had~~to ~~been~~prepayments ~~used to~~previously ~~fund~~made, the ~~purchase~~required offuture ~~VACCO.~~principal ~~The~~payments ~~Company~~on ~~had~~ the ~~ability~~Term toLoan ~~borrow~~are an$0 for ~~additional~~fiscal 2026, and $~~296~~288.30 for fiscal ~~under~~2027. ~~the~~The Revolving Credit Facility asexpires ofin ~~September 27~~October 2030, ~~2025.~~at Onwhich ~~September~~time ~~30,~~all ~~2025,~~amounts ~~the~~outstanding ~~Company~~under ~~paid~~the ~~$40.0~~Revolving onCredit Facility ~~the~~will ~~Term~~be ~~Loan~~payable.

~~Senior~~The ~~Notes~~Credit Agreement requires the Company to comply with various covenants, including a maximum Total Net Leverage Ratio (as defined in the Credit Agreement) of 4.50:1.00 (provided that, such maximum ratio may be increased by the Company to 0.50:1.00 for a period of 12 months after the consummation of a material acquisition (provided that there may be only one such increase in effect at any one time)).

InThe ~~fiscal~~Credit ~~2022,~~Agreement ~~RBCA issued~~allows ~~$500.0~~the ~~aggregate~~Company ~~principal~~to, ~~amount~~among ofother ~~the~~things, ~~Senior~~make ~~Notes.~~distributions ~~The~~to ~~net~~stockholders, ~~proceeds~~repurchase ~~from~~its ~~the~~stock, ~~issuance~~incur ofother ~~the~~debt ~~Senior~~or ~~Notes~~liens, ~~were~~or ~~approximately~~acquire ~~$492.0,~~or ~~after~~dispose ~~deducting~~of ~~initial~~assets ~~purchasers’~~provided ~~discounts~~that ~~and~~the ~~commissions~~Company ~~and~~complies ~~offering~~with ~~expenses,~~certain requirements and ~~were~~limitations ~~used to fund a portion~~ of the ~~cash purchase~~Credit ~~price for the acquisition of Dodge~~Agreement.

32The Company’s domestic subsidiaries have guaranteed the Company’s obligations under the Credit Agreement, and the Company’s obligations and the domestic subsidiaries’ guaranty are secured by a pledge of substantially all of the assets of the Company and its domestic subsidiaries.

~~The~~As ~~Senior~~of ~~Notes~~December ~~were issued pursuant to an indenture with Wilmington Trust~~27, ~~National Association~~2025, ~~as trustee~~$288.0 was ~~This~~outstanding ~~indenture~~under ~~contains~~the ~~covenants~~Term ~~limiting~~Loan, ~~the~~$3.7 ~~ability~~ of the ~~Company~~Revolving toCredit ~~(i)~~Facility ~~incur~~was ~~additional~~being ~~indebtedness~~utilized orto ~~guarantee~~provide ~~indebtedness,~~letters ~~(ii)~~of ~~declare~~credit orto ~~pay~~secure ~~dividends,~~the Company’s ~~redeem~~obligations ~~stock~~relating ~~or make other distributions~~ to ~~stockholders,~~certain ~~(iii)~~insurance ~~make investments~~programs, ~~(iv)~~and ~~create~~$200.0 ~~liens~~of orthe ~~use~~Revolving ~~assets~~Credit asFacility ~~security~~had inbeen ~~other~~used ~~transactions,~~to ~~(v) merge or~~fund ~~consolidate,~~the orpurchase ~~sell, transfer, lease or dispose~~ of ~~substantially~~VACCO. ~~all~~The ofCompany ~~its~~had ~~assets,~~the ~~(vi)~~ability ~~enter~~to ~~into~~borrow ~~transactions~~an ~~with~~additional ~~affiliates, and (vii) sell or transfer certain assets~~$296.3 ~~These~~under ~~covenants contain various exceptions, limitations and qualifications. At any time that~~ the ~~Senior~~ ~~Notes~~Revolving ~~are~~Credit ~~rated~~Facility ~~investment~~as ~~grade, certain~~ of ~~these~~December ~~covenants will be suspended~~27, 2025.

~~The~~ Senior Notes are guaranteed jointly and severally on a senior unsecured basis by RBC Bearings and certain of RBCA’s existing and future wholly-owned domestic subsidiaries that also guarantee the Credit Agreement.

~~Interest~~In onfiscal 2022, RBCA issued $500.0 aggregate principal amount of the Senior Notes ~~accrues~~. atThe anet ~~rate~~proceeds from the issuance of ~~4.375%~~the ~~and~~Senior isNotes ~~payable~~were ~~semi–annually~~approximately in$492.0, after ~~cash~~deducting ininitial ~~arrears~~purchasers’ ondiscounts ~~April~~and 15commissions and ~~October~~offering 15expenses and were used to fund a portion of ~~each~~the ~~year~~cash purchase price for the acquisition of Dodge.

The Senior Notes will mature on October 15, 2029. The Company may redeem some or all of the Senior Notes at any time at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. If the Company sells certain of its assets or experiences specific kinds of changes in control, the Company must offer to repurchase the Senior Notes.33

~~Foreign~~The ~~Borrowing~~Senior ~~Arrangements~~Notes were issued pursuant to an indenture with Wilmington Trust, National Association, as trustee. This indenture contains covenants limiting the ability of the Company to (i) incur additional indebtedness or guarantee indebtedness, (ii) declare or pay dividends, redeem stock or make other distributions to stockholders, (iii) make investments, (iv) create liens or use assets as security in other transactions, (v) merge or consolidate, or sell, transfer, lease or dispose of substantially all of its assets, (vi) enter into transactions with affiliates, and (vii) sell or transfer certain assets. These covenants contain various exceptions, limitations and qualifications. At any time that the Senior Notes are rated investment grade, certain of these covenants will be suspended.

The ~~Foreign~~Senior ~~Credit~~Notes ~~Line~~are ~~provides~~guaranteed ~~Schaublin~~jointly SAand ~~with~~severally on a ~~CHF 5.0 (approximately~~senior ~~$6.1 USD)~~unsecured ~~credit~~basis ~~line~~by toRBC ~~provide~~Bearings ~~future~~and ~~working~~certain ~~capital, if necessary. As~~ of ~~September~~ ~~27,~~RBCA’s ~~2025,~~existing ~~$0.1~~and ~~was~~future ~~being~~wholly-owned ~~utilized~~domestic subsidiaries tothat ~~provide~~also ~~a bank~~ guarantee. ~~Fees associated with~~ the ~~Foreign~~ Credit ~~Line are nominal~~Agreement.

InInterest ~~July~~on ~~2024,~~the ~~Swiss~~Senior ~~Tool Systems,~~Notes ~~one~~accrues ofat ~~our~~a ~~foreign~~rate ~~subsidiaries,~~of ~~purchased the building where it operates for CHF 7~~4.1375% ~~(approximately $8.4 USD)~~ and ~~took~~is ~~out~~payable asemi–annually ~~10-year, 2.9%~~in ~~fixed-rate~~cash ~~mortgage~~in arrears on ~~the~~April ~~building~~15 ~~for~~and ~~CHF~~October ~~4.0~~15 ~~(approximately~~of ~~$4.5~~each ~~USD)~~year.

~~Interest~~The ~~Rate~~Senior ~~Swap~~Notes will mature on October 15, 2029. The Company may redeem some or all of the Senior Notes at any time at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. If the Company sells certain of its assets or experiences specific kinds of changes in control, the Company must offer to repurchase the Senior Notes.

~~The~~Foreign ~~Company~~Borrowing ~~is exposed to market risks relating to fluctuations in interest rates.~~Arrangements

ToThe ~~hedge~~Foreign ~~against~~Credit ~~this~~Line ~~risk, in~~provides ~~fiscal~~Schaublin ~~2023,~~SA ~~the Company entered into the Interest Rate Swap~~ with a ~~third-party financial counterparty under the Credit Agreement~~CHF 5.0 (approximately ~~The~~$6.2 USD) ~~Interest~~credit ~~Rate~~line ~~Swap was executed~~ to ~~protect~~provide ~~the~~future ~~Company~~working ~~from~~capital, ~~interest~~if ~~rate volatility on our variable-rate Term Loan~~necessary. ~~The~~As ~~Interest Rate~~of ~~Swap became effective~~ December 3027, ~~2022~~2025, ~~and is comprised of a~~ $~~600.~~0 ~~notional with a maturity of three years~~.1 ~~The notional~~ was ~~$100.0 as~~being ofutilized ~~September~~to ~~27, 2025. We receive~~ provide a ~~variable~~bank ~~rate based on one-month Term SOFR and pay a fixed rate of 4~~guarantee.~~455%.~~ ~~The~~Fees ~~notional~~associated onwith the ~~Interest~~ ~~Rate~~Foreign ~~Swap~~Credit ~~amortizes~~Line asare ~~follows:~~nominal.

~~Year~~In July 2024, Swiss Tool Systems, one of our foreign subsidiaries, purchased the building where it operates for CHF 7.1: (approximately $~~600~~8.4 USD) and took out a 10-year, 2.9% fixed-rate mortgage on the building for CHF 4.0 (approximately $4.5 USD).

~~Year~~Interest 2:Rate ~~$400.0~~Swap

~~Year~~Because 3:the ~~$100~~Company is exposed to market risks relating to fluctuations in interest rates, the Company maintained the Interest Rate Swap prior to its expiration on December 30, 2025.0 At this time we have not yet determined if we will enter into a new interest rate swap arrangement.

The Interest Rate Swap has been designated as a cash flow hedge of the variability of the first unhedged interest payments (the hedged transactions) paid over the hedging relationship’s specified time period of three years attributable to the borrowing’s contractually specified interest index on the hedged principal of its general borrowing program or replacement or refinancing thereof.34

33Cross Currency Swap

~~Cross~~The ~~Currency~~Company ~~Swap~~is exposed to foreign exchange rate fluctuations as some of our subsidiaries operate in various countries.

~~The~~On August 12, 2024, the Company entered isinto ~~exposed~~the Cross Currency Swap with a third-party financial counterparty. The objective of the Cross Currency Swap is to economically ~~foreign~~hedge the Company’s net investment in its lower-tier European subsidiary, Schaublin, against adverse changes in the Swiss franc/U.S. dollar exchange rate. ~~fluctuations~~The asCross ~~some~~Currency Swap is based upon a net investment of ~~our~~CHF ~~subsidiaries~~69.4 ~~operate~~($80.0 USD) notional amount with a three-year maturity date. RBC receives a fixed U.S. dollar amount on a month-to-month basis based upon a fixed annual rate of 2.77% of the notional amount. At maturity, RBC will net-settle the principal of the Cross Currency Swap in ~~various~~cash ~~countries~~with the counterparty. The Cross Currency Swap has been designated as a net investment hedge on an after-tax basis.

OnPreferred August 12, 2024, the Company entered into the Cross Currency Swap with a third-party financial counterparty. The objective of the Cross Currency Swap is to economically hedge the Company’s net investment in its lower-tier European subsidiary, Schaublin, against adverse changes in the Swiss franc/U.S. dollar exchange rate. The Cross Currency Swap is based upon a net investment of CHF 69.4 ($80.0 USD) notional amount with a three-year maturity date. RBC receives a fixed U.S. dollar amount on a month-to-month basis based upon a fixed annual rate of 2.77% of the notional amount. At maturity, RBC will net-settle the principal of the Cross Currency Swap in cash with the counterparty. The Cross Currency Swap has been designated as a net investment hedge on an after-tax basis.Stock

~~Preferred~~Prior ~~Stock~~to October 15, 2024, the Company had outstanding 4,600,000 shares of MCPS to which we paid a quarterly dividend aggregating $5.75, but on that date each then-outstanding share of the MCPS converted into 0.4413 shares of common stock, resulting in the retirement of the MCPS and the issuance of 2,029,955 shares of common stock, and the Company ceased paying dividends on the MCPS.

~~Prior~~Cash to October 15, 2024, the Company had outstanding 4,600,000 shares of MCPS to which we paid a quarterly dividend aggregating $5.75, but on that date each then-outstanding share of the MCPS converted into 0.4413 shares of common stock, resulting in the retirement of the MCPS and the issuance of 2,029,955 shares of common stock. Because the MCPS is no longer outstanding, the Company will not pay MCPS dividends in the future, resulting in a cash savings of $23.0 per year.Flows

~~Cash~~Nine-month ~~Flows~~Period Ended December 27, 2025 Compared to the Nine-month Period Ended December 28, 2024

~~Six-month~~The ~~Period~~following ~~Ended~~table ~~September~~summarizes ~~27,~~our ~~2025~~cash ~~Compared~~flow ~~to the Six-month Period Ended September 28, 2024~~activities:

The following table summarizes our cash flow activities:

	Nine Months Ended
	December 27, 2025			December 28, 2024			$ Change
Net cash provided by/(used in):
Operating activities	$	330.5		$	224.4		$	106.1
Investing activities		(330.4	)		(35.6	)		(294.8	)
Financing activities		71.8			(191.3	)		263.1
Effect of exchange rate changes on cash		(1.1	)		(0.4	)		(0.7	)
Increase/(decrease) in cash	$	70.8		$	(2.9	)	$	73.7

	Six Months Ended
	September 27, 2025			September 28, 2024			$ Change
Net cash provided by/(used in):
Operating activities	$	208.4		$	140.4		$	68.0
Investing activities		(307.4	)		(25.2	)		(282.2	)
Financing activities		154.0			(89.0	)		243.0
Effect of exchange rate changes on cash		(0.6	)		(0.6	)		0.0
Increase/(decrease) in cash	$	54.4		$	25.6		$	28.8

During the first nine months of fiscal 2026, we generated cash of $330.5 from operating activities compared to $224.4 during the same period of fiscal 2025. The increase of $106.1 was the result of an increase in net income of $22.4, a favorable change in operating assets and liabilities of $43.1 and a favorable impact of non-cash activity of $40.6. The favorable change in operating assets and liabilities is detailed in the table below. The change in non-cash activity was driven by $3.0 more of stock-based compensation, $0.7 more of amortization of deferred financing costs, $4.0 more of restructuring costs, $5.5 more of depreciation and amortization, $0.7 more of amortization of operating leases, $0.5 of additional losses on the disposition of assets and a $26.2 increase in deferred taxes.

During the first six months of fiscal 2026, we generated cash of $208.4 from operating activities compared to $140.4 during the same period of fiscal 2025. The increase of $68.0 was the result of an increase in net income of $12.9, a favorable change in operating assets and liabilities of $28.0 and a favorable impact of non-cash activity of $27.1. The favorable change in operating assets and liabilities is detailed in the table below. The change in non-cash activity was driven by $0.9 more stock-based compensation, $0.5 more amortization of deferred financing costs, $4.0 more restructuring costs, $2.3 more in depreciation and amortization, $0.3 more amortization of operating leases and $19.1 more of deferred taxes.35

34The following table summarizes the impact on cash flow from operating assets and liabilities for the third quarter of fiscal 2026 versus the third quarter of fiscal 2025.

The following table summarizes the impact on cash flow from operating assets and liabilities for the second quarter of fiscal 2026 versus the second quarter of fiscal 2025.

	Nine Months Ended
	December 27, 2025			December 28, 2024			$ Change
Cash provided by/(used in):
Accounts receivable	$	35.8		$	(2.4	)	$	38.2
Inventory		(60.1	)		(36.2	)		(23.9	)
Prepaid expenses and other current assets		(0.4	)		(4.9	)		4.5
Other noncurrent assets		(16.1	)		(2.1	)		(14.0	)
Accounts payable		(4.0	)		14.1			(18.1	)
Accrued expenses and other current liabilities		(1.5	)		(19.2	)		17.7
Other noncurrent liabilities		37.1			(1.6	)		38.7
Total change in operating assets and liabilities:	$	(9.2	)	$	(52.3	)	$	43.1

	Six Months Ended
	September 27, 2025			September 28, 2024			$ Change
Cash provided by/(used in):
Accounts receivable	$	42.0		$	0.8		$	41.2
Inventory		(48.2	)		(20.7	)		(27.5	)
Prepaid expenses and other current assets		(7.3	)		(7.0	)		(0.3	)
Other noncurrent assets		(7.7	)		(2.0	)		(5.7	)
Accounts payable		(1.5	)		11.0			(12.5	)
Accrued expenses and other current liabilities		3.4			(16.2	)		19.6
Other noncurrent liabilities		4.7			(8.5	)		13.2
Total change in operating assets and liabilities:	$	(14.6	)	$	(42.6	)	$	28.0

During the first nine months of fiscal 2026, we used $330.4 for investing activities as compared to $35.6 used in the first nine months of fiscal 2025. This increase in cash used was attributable to a $19.8 increase in capital expenditures and the VACCO acquisition of $275.0.

During the first ~~six~~nine months of fiscal 2026, wecash ~~used~~provided ~~$307.4~~by ~~for~~financing activity ~~investing~~was ~~activities~~$71.8 as compared to $25191.23 of cash used in financing activity in the first ~~six~~nine months of fiscal 2025. This increase in cash provided ~~used~~ was primarily attributable to a$160.0 of additional proceeds received from the Revolving Credit Facility. Additionally, we had $750.0 less of payments made on the Term Loan, $17.2 ~~increase~~less inof ~~capital~~preferred ~~expenditures~~stock dividends paid and ~~the~~$55.4 ~~VACCO~~less ~~acquisition~~of revolving credit facilities payments, partially offset by $1.8 more of financing fees paid, $~~275~~8.3 less of exercises of stock-based awards, $4.6 more of repurchases of common stock, $0.2 more payments of finance lease obligations, $0.1 more repayments of notes payable and $4.5 less of proceeds received from mortgage.

~~During~~Capital the first six months of fiscal 2026, cash provided by financing activity was $154.0 compared to $89.0 of cash used in financing activity in the first six months of fiscal 2025. This increase in cash provided was primarily attributable to $200.0 in proceeds received from the Revolving Credit Facility in connection with the VACCO acquisition. Additionally, we had $30.0 less payments made on the Term Loan, $11.5 less in preferred stock dividends paid and $15.4 less in revolving credit facilities payments, partially offset by $4.9 less in exercises of stock-based awards, $4.3 more repurchases of common stock, $0.2 more payments on finance lease obligations and $4.5 less in proceeds received from mortgage.Expenditures

~~Capital~~Our ~~Expenditures~~capital expenditures were $55.4 for the nine-month period ended December 27, 2025 compared to $35.6 for the nine-month period ended December 28, 2024. We expect capital expenditures for fiscal 2026 will be approximately 4.0% of our net sales for the fiscal year. We expect to fund these capital expenditures principally through existing cash and internally generated funds. We may also make substantial additional capital expenditures in connection with acquisitions.

~~Our~~Obligations capital expenditures were $32.4 for the six-month period ended September 27, 2025 compared to $25.2 for the six-month period ended September 28, 2024. We expect capital expenditures for fiscal 2026 will be between 3.0% to 3.5% of our net sales for the fiscal year. We expect to fund these capital expenditures principally through existing cash and ~~internally generated funds. We may also make substantial additional capital expenditures in connection with acquisitions.~~Commitments

~~Obligations~~The Company’s fixed contractual obligations and ~~Commitments~~commitments are primarily comprised of the Credit Agreement and the Senior Notes. We also have lease obligations that are materially consistent with what we disclosed in our Annual Report.

~~The~~Other Company’s fixed contractual obligations and commitments are primarily comprised of the Credit Agreement and the Senior Notes. We also have lease obligations which are materially consistent with what we disclosed in our Annual Report.Matters

~~Other~~Critical ~~Matters~~Accounting Policies and Estimates

~~Critical~~Preparation ~~Accounting~~of ~~Policies~~our financial statements requires management to make estimates and ~~Estimates~~assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. We believe the most complex and sensitive judgments, because of their significance to the consolidated financial statements, result primarily from the need to make estimates about the effects of matters that are inherently uncertain. Management’s Discussion and Analysis of Financial Condition and Results of Operations and the Notes to the Consolidated Financial Statements in our Annual Report describe the significant accounting estimates and policies used in preparation of our consolidated financial statements. Actual results in these areas could differ from management’s estimates. There were no significant changes in our critical accounting estimates during the third quarter of fiscal 2026.

Preparation of our financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. We believe the most complex and sensitive judgments, because of their significance to the consolidated financial statements, result primarily from the need to make estimates about the effects of matters that are inherently uncertain. Management’s Discussion and Analysis of Financial Condition and Results of Operations and the Notes to the Consolidated Financial Statements in our Annual Report describe the significant accounting estimates and policies used in preparation of our consolidated financial statements. Actual results in these areas could differ from management’s estimates. There were no significant changes in our critical accounting estimates during the second quarter of fiscal 2026.36

Off-Balance Sheet Arrangements

The Company has $3.7 of outstanding standby letters of credit, all of which are under the Revolving Credit Facility.

35Item 3. Quantitative and Qualitative Disclosures About Market Risk

~~Item~~We 3.are ~~Quantitative~~exposed ~~and~~to ~~Qualitative~~market ~~Disclosures~~risks ~~About~~that ~~Market~~arise ~~Risk~~during the normal course of business from changes in interest rates and foreign currency exchange rates.

WeInterest ~~are~~Rates. ~~exposed~~We currently tohave ~~market~~variable ~~risks that~~rate ~~arise~~debt ~~during~~outstanding under the ~~normal~~Term ~~course~~Loan. We regularly evaluate the impact of ~~business~~interest ~~from~~rate changes on our net income and cash flow and take action to limit our exposure when appropriate. As discussed in Note 13 in Part I, Item I of this report, we utilized the Interest Rate Swap to fix a portion of the variable rate interest ~~rates~~expense ~~and~~associated ~~foreign~~with ~~currency~~the ~~exchange~~Term ~~rates~~Loan. The Interest Rate Swap ended on December 30, 2025 as mentioned in Note 15.

~~Interest~~Foreign ~~Rates.~~Currency WeExchange ~~currently have variable rate debt outstanding under the Term Loan~~Rates. WeOur ~~regularly~~operations ~~evaluate the impact of interest rate changes on our net income and cash flow and take action to limit our exposure when appropriate. As discussed~~ in ~~Note 13 in Part I, Item I of this report, we have utilized an interest rate swap to fix a portion of~~ the ~~variable~~following ~~rate~~countries ~~interest~~utilize ~~expense associated with~~ the ~~Term~~following ~~Loan.~~currencies Asas oftheir ~~September 27,~~functional ~~2025, approximately 57% of our debt bears interest at a fixed rate, after giving effect to the interest rate swap agreement in place.~~currency:

~~Foreign~~● ~~Currency~~Australia ~~Exchange Rates.~~– ~~Our~~Australian ~~operations~~dollar in● ~~the~~India ~~following~~– ~~countries~~rupee ~~utilize~~● ~~the~~Canada ~~following~~– ~~currencies~~Canadian asdollar ~~their~~● ~~functional~~Mexico ~~currency:~~– peso ● China – Chinese yuan ● Poland – zloty ● France and Germany – euro ● Switzerland – Swiss franc ● England – British pound

●As ~~Australia~~a –result, ~~Australian~~we are exposed to risk associated with fluctuating currency exchange rates between the U.S. dollar ●and ~~India~~these –currencies. ~~rupee~~Foreign ●currency ~~Canada~~transaction –gains ~~Canadian~~and losses are included in earnings. Approximately 10% and 12% of our net sales were impacted by foreign currency fluctuations for the three- and nine-month periods ended December 27, 2025, respectively. Approximately 12% and 11% of our net sales were impacted by foreign currency fluctuations for the three- and nine-month periods ended December 28, 2024, respectively. For those countries outside the U.S. where we have sales, a strengthening in the U.S. dollar ●or ~~Mexico~~devaluation –in ~~peso~~the ●local ~~China~~currency –would ~~Chinese~~reduce ~~yuan~~the ●value ~~Poland~~of –our ~~zloty~~local ●inventory ~~France~~as presented in our consolidated financial statements. In addition, a stronger U.S. dollar or a weaker local currency would result in reduced net sales, operating profit and ~~Germany~~shareholders’ –equity ~~euro~~due ●to ~~Switzerland~~the –impact ~~Swiss~~of ~~franc~~foreign ●exchange ~~England~~translation –on ~~British~~our ~~pound~~consolidated financial statements. Fluctuations in foreign currency exchange rates may make our products more expensive for others to purchase or increase our operating costs, affecting our competitiveness and our profitability.

AsChanges ain ~~result, we are exposed to risk associated with fluctuating currency~~ exchange rates between the U.S. dollar and ~~these~~other currencies. ~~Foreign currency transaction gains~~ and ~~losses~~volatile ~~are included in earnings. Approximately 11% of our net sales were impacted by foreign currency fluctuations for both the three-month and six-month period ended September 27~~economic, ~~2025~~political and ~~the~~market ~~three-month~~conditions ~~and~~in ~~six-month~~emerging ~~period~~market ~~ended September 28, 2024. For those~~ countries ~~outside the U.S. where we~~ have ~~sales, a strengthening~~ in the ~~U.S.~~past ~~dollar~~adversely oraffected ~~devaluation in the local currency would reduce the value of~~ our ~~local inventory as presented in our consolidated~~ financial ~~statements.~~performance Inand ~~addition,~~may ~~a stronger U.S. dollar or a weaker local currency would result~~ in ~~reduced~~the ~~net~~future ~~sales,~~adversely ~~operating~~affect ~~profit and shareholders’ equity due to~~ the ~~impact~~value of ~~foreign exchange translation on~~ our ~~consolidated~~assets ~~financial~~located ~~statements. Fluctuations in foreign currency exchange rates may make our products more expensive for others~~outside tothe ~~purchase~~United orStates, ~~increase~~ our ~~operating~~gross ~~costs,~~profit ~~affecting~~and our ~~competitiveness~~results ~~and~~of ~~our profitability~~operations.

~~Changes~~We inperiodically ~~exchange~~enter ~~rates~~into ~~between~~derivative ~~the~~financial ~~U.S.~~instruments ~~dollar~~in ~~and~~the ~~other~~form ~~currencies~~of ~~and~~forward ~~volatile~~exchange ~~economic,~~contracts ~~political~~to ~~and~~reduce ~~market~~the ~~conditions~~effect inof ~~emerging~~fluctuations ~~market~~in ~~countries~~exchange ~~have~~rates on incertain ~~the~~third-party ~~past~~sales ~~adversely~~transactions ~~affected~~denominated ~~our~~in ~~financial~~non-functional ~~performance~~currencies. ~~and~~As ~~may~~of inDecember ~~the~~27, ~~future~~2025, ~~adversely~~the ~~affect~~Company ~~the~~had ~~value~~a ofcross ~~our~~currency swap, ~~assets~~which ~~located~~is ~~outside the~~discussed ~~United~~in ~~States,~~further ~~our~~detail ~~gross~~within ~~profit~~Notes 6 and ~~our~~13 ~~results~~in Part I, Item 1 of ~~operations~~this report.

We periodically enter into derivative financial instruments in the form of forward exchange contracts to reduce the effect of fluctuations in exchange rates on certain third-party sales transactions denominated in non-functional currencies. As of September 27, 2025, the Company had a cross currency swap, which is discussed in further detail within Notes 6 and 13 in Part I, Item 1 of this report.37

Item 4. Controls and Procedures

Our management, with the ~~participation~~ participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)) as of ~~September~~ December 27, 2025. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as of December ~~September~~ 27, 2025, our disclosure controls and procedures were (1) designed to ensure that information relating to our Company required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported to our Chief Executive Officer and Chief Financial Officer within the time periods specified in the rules and forms of the SEC, and (2) effective, in that they provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

Changes in Internal Control over Financial Reporting

No change in our internal control over financial reporting occurred during the first ~~six~~nine months of fiscal 2026 that has materially affected, or is reasonably ~~likely~~ likely to materially affect, our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act).

As discussed within Note 14 included within Part I, Item 1 of this report, we acquired VACCO on July 18, 2025. We are currently in the process of integrating the internal controls and procedures of VACCO into our internal controls over financial reporting. As provided under the Sarbanes-Oxley Act of 2002 and the applicable rules and regulations of the Securities and Exchange Commission, we will include the internal ~~controls~~ controls and procedures of VACCO in our annual assessment of the effectiveness of our internal control over financial reporting for our 2027 fiscal year.

3638

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

No legal proceeding became a reportable event during the quarter ended ~~September~~December 27, 2025 and there were no material developments during the quarter with respect to any legal proceedings previously disclosed.

Item 1A. Risk Factors

There have been no material changes to our risk factors and uncertainties since the filing of our Annual Report with the SEC on May 16, 2025. For a discussion of the risk factors, refer to Part I, Item 2, “Cautionary Statement as to Forward-Looking Information” contained in this quarterly report and Part I, Item 1A, “Risk Factors,” contained in our Annual Report.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Unregistered Sales of Equity Securities

During the ~~second~~third quarter of fiscal 2026, we did not issue any common stock that was not registered under the Securities Act of 1933.

Use of Proceeds

Not applicable.

~~Issuer Purchases of Equity Securities~~39

~~Our~~Issuer ~~repurchases~~Purchases of ~~shares of~~Equity ~~our common stock for the three months ended September 27, 2025 are as follows:~~Securities

Period	Total number of shares purchased(1)		Average price paid per-share(2)		Number of shares purchased as part of the publicly announced program(3)		Approximate dollar value of shares still available to be purchased under the program (in millions)(3)
06/29/2025 – 07/26/2025		513	$	376.71		—	$	100.0
07/27/2025 – 08/23/2025		851		394.74		—		100.0
08/24/2025 – 09/27/2025		38		385.05		—	$	100.0
Total		1,402	$	387.88		—

Our repurchases of shares of our common stock for the three months ended December 27, 2025 are as follows:

(1) Consists of shares of RBC stock repurchased from employees upon the award or vesting of those shares in order to fund the employees’ tax withholding obligation. These repurchased shares were never in the open market.

Period	Total number of shares purchased⁽¹⁾		Average price paid per-share⁽²⁾		Number of Shares purchased as part of the publicly announced program⁽³⁾		Approximate dollar value of shares still available to be purchased under the program (in millions)⁽³⁾
09/28/2025 – 10/25/2025		893	$	389.33		—	$	100.0
10/26/2025 – 11/22/2025		248		428.89		—		100.0
11/23/2025 – 12/27/2025		133		446.43		—	$	100.0
Total		1,274	$	402.99		—

(21) ~~The~~Consists ~~closing~~of ~~price~~shares ~~for~~of ~~our~~RBC stock onrepurchased from employees upon the ~~trading~~award ~~day~~or ~~immediately~~vesting ~~preceding~~of those shares in order to fund the ~~stock~~employees’ ~~award~~tax orwithholding ~~vesting~~obligation. ~~date~~These repurchased shares were never in the open market.

(32) InThe ~~2019,~~closing ~~our~~price ~~Board~~for ~~of Directors authorized us to repurchase up to $100.0 of~~ our ~~common~~ stock ~~from~~on ~~time to time in~~ the ~~open~~trading ~~market~~day inimmediately ~~compliance~~preceding ~~with~~the ~~SEC~~stock ~~Rule 10b-18 depending on market conditions, alternative uses of capital, and other relevant factors. Purchases may be commenced, suspended, or discontinued at any time without prior notice. The~~ repurchase ~~plan does not have an expiration~~ date. ~~As of September 27, 2025, the Company has not repurchased any shares pursuant to this program.~~

(3)

In 2019, our Board of Directors authorized us to repurchase up to $100.0 of our common stock from time to time in the open market in compliance with SEC Rule 10b-18 depending on market conditions, alternative uses of capital, and other relevant factors. Purchases may be commenced, suspended, or discontinued at any time without prior notice. The repurchase plan does not have an expiration date. As of December 27, 2025, the Company has not repurchased any shares pursuant to this program.

Item 3. Defaults Upon Senior Securities

Not applicable.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Not applicable.

Item 6. Exhibits

Exhibit Number		Exhibit Description
31.01		Certification of Chief Executive Officer Pursuant to Securities Exchange Act Rule 13a-14(a).
31.02		Certification of Chief Financial Officer Pursuant to Securities Exchange Act Rule 13a-14(a).
32.01		Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 and Securities Exchange Act Rule 13a-14(b).*
32.02		Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 and Securities Exchange Act Rule 13a-14(b).*
101.INS		Inline XBRL Instance Document.
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File, formatted in iXBRL and contained in Exhibit 101.

This certification accompanies this Quarterly Report on Form 10-Q, is not deemed filed with the SEC and is not to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended (whether made before or after the date of this Quarterly Report on Form 10-Q), irrespective of any general incorporation language contained in such filing.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

RBC Bearings Incorporated
~~(Registrant)~~	(Registrant)
By:	/s/ Michael J. Hartnett
	Name:	Michael J. Hartnett
	Title:	Chief Executive Officer
	Date:	~~October~~February 315, ~~2025~~2026
By:	/s/ Robert M. Sullivan
	Name:	Robert M. Sullivan
	Title:	Chief Financial Officer
	Date:	~~October~~February 315, ~~2025~~2026

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Filing Compare · RBC Bearings INC