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Mar 31, 2024
Barnes Group Q1 2024 Earnings Report
Barnes Group reported first quarter 2024 financial results, driven by its long-term profitable growth strategy and a more aerospace-oriented business.
Key Takeaways
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.
Sales of $431 million, up 28%; Organic Sales up 4%
Operating Margin of 9.2%; Adjusted Operating Margin of 11.9%, up 80 bps
Adjusted EBITDA Margin of 18.7%, up 130 bps
GAAP EPS of $0.04; Adjusted EPS of $0.38, down 19%
Barnes Group
Barnes Group
Barnes Group Revenue by Segment
Forward Guidance
The Company is updating its full year 2024 guidance.
Positive Outlook
- Organic sales growth 5% to 8%
- Adjusted EBITDA margin 20% to 22%
- Adjusted earnings per share $1.62 to $1.82
- Capital expenditures $60 million to $70 million
- Free cash flow $75 million to $85 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income