Barnes Group Q1 2023 Earnings Report
Key Takeaways
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.
Sales of $335 million, up 7% versus prior year period; Organic Sales up 9%
Operating Margin of 6.9%; Adjusted Operating Margin of 11.1%, up 90 bps from a year ago
GAAP EPS of $0.26; Adjusted EPS of $0.47, up 15% versus prior year period
Forecasts 2023 Organic Sales Growth of +6% to +8%
Barnes Group
Barnes Group
Barnes Group Revenue by Segment
Forward Guidance
Barnes continues to expect organic sales growth of 6% to 8% for 2023 with adjusted operating margin in the range of 12.5% to 13.5%. Adjusted earnings are now expected to be in the range of $2.15 to $2.30 per share, up 9% to 16% from 2022’s adjusted earnings of $1.98 per share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income