Barnes Group Q2 2023 Earnings Report
Key Takeaways
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.
Sales of $339 million, up 6% versus prior year period; Organic Sales up 5%
Operating Margin of 7.7%; Adjusted Operating Margin of 12.8%, up 30 bps from a year ago
GAAP EPS of $0.34; Adjusted EPS of $0.58, up 4% versus prior year period
Forecasts 2023 Organic Sales Growth of +7% to +9%
Barnes Group
Barnes Group
Barnes Group Revenue by Segment
Forward Guidance
Barnes forecasts organic sales growth of 7% to 9% for 2023 with adjusted operating margin in the range of 12.5% to 13.5%. Adjusted earnings are 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, consistent with our previous outlook.
Revenue & Expenses
Visualization of income flow from segment revenue to net income