Barnes Group Earnings Reports

Barnes Group Inc. reported financial results for the third quarter of 2024. Sales were up 7% to $388 million, with organic sales up 4%. Adjusted EPS was $0.09, down 52%. The company is pending acquisition by Apollo Funds.

Barnes Group Inc. reported second quarter sales of $382 million, up 13% with organic sales up 5%. GAAP EPS was reported at -$0.91, while adjusted EPS was $0.37, down 36%. The company is making progress in transforming into a higher growth, higher value company.

Barnes Group's first quarter 2024 sales reached $431 million, a 28% increase, with organic sales up by 4%. The operating margin was 9.2%, and adjusted EPS was $0.38. The company is advancing its business transformation strategy, focusing on aerospace and optimizing its industrial business.

Barnes Group Inc. reported a 33% increase in sales to $416 million for the fourth quarter of 2023, with organic sales up 2%. The company's operating income increased by 23% to $29.7 million, and adjusted EPS was $0.41. Full year sales were $1,451 million, up 15% from the previous year.

Barnes Group's Q3 2023 sales were $361 million, up 15% from the prior year, with organic sales increasing 4%. GAAP EPS was -$0.43, while adjusted EPS was $0.19. The company is forecasting 2023 organic sales growth of +5% to +6% and adjusted EPS of $1.57 to $1.67.

Barnes Group Inc. reported a 6% increase in net sales to $339 million for the second quarter of 2023, with organic sales up 5%. The company's operating margin was 7.7%, and adjusted operating margin was 12.8%, up 30 bps from the previous year. GAAP EPS was $0.34, while adjusted EPS was $0.58, a 4% increase year-over-year. The company forecasts 2023 organic sales growth of +7% to +9% and maintains its adjusted EPS forecast of $2.15 to $2.30.

Barnes Group Inc. reported a 7% increase in net sales to $335 million for the first quarter of 2023, with organic sales up 9%. Adjusted EPS increased by 15% to $0.47, and the adjusted operating margin improved by 90 bps to 11.1%. The company forecasts 2023 organic sales growth of +6% to +8% and adjusted EPS of $2.15 to $2.30.

Barnes Group Inc. reported a 1% increase in fourth-quarter sales to $313 million, with organic sales up 5%. GAAP EPS was $0.30, while adjusted EPS was $0.52, a 5% decrease year-over-year. The company is focused on strategic end markets, operational efficiencies, and enhanced profitability and cash flow.

Barnes Group's third quarter 2022 sales were $315 million, a 3% decrease year-over-year. Organic sales increased by 2%. GAAP EPS was $0.33, while adjusted EPS was $0.49, an 11% decrease from the prior year. The Aerospace segment continued its strong performance, driven by aftermarket growth, while the Industrial segment faced persistent economic headwinds.

Barnes Group reported flat sales compared to the prior year period, but organic sales increased. The company faced an operating loss due to a goodwill impairment charge in the Industrial Segment. Adjusted EPS increased, and the company updated its 2022 outlook, expecting organic sales growth and adjusted EPS.

Barnes Group Inc. reported a 4% increase in net sales to $312 million for Q1 2022, with organic sales up 6%. GAAP EPS was $0.40, and adjusted EPS was $0.41, an 8% increase year-over-year. The company forecasts 2022 organic sales growth of +8% to +10% and expects adjusted EPS of $2.20 to $2.40.