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Jun 30, 2024
Barnes Group Q2 2024 Earnings Report
Reported second quarter 2024 financial results, showing progress on transforming to an aerospace-focused company.
Key Takeaways
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.
Sales of $382 million, up 13%; Organic Sales up 5%
Operating Margin of -0.6%; Adjusted Operating Margin of 12.4%, down 40 bps
Adjusted EBITDA Margin of 20.0%, up 20 bps
GAAP EPS of -$0.91; Adjusted EPS of $0.37, down 36%
Barnes Group
Barnes Group
Barnes Group Revenue by Segment
Forward Guidance
The Company is updating its full year 2024 guidance to the following:
Positive Outlook
- Sales Growth of 10% to 12%
- Organic Sales Growth of 4% to 6%
- Adjusted EBITDA Margin of 20% to 22%
- Adjusted EPS of $1.55 to $1.75
- Free cash flow $45 million to $55 million
Challenges Ahead
- GAAP EPS of -$0.36 to -$0.16
- Adjusted effective tax rate 33% to 34%
- Capital expenditures $55 million to $65 million
- Industry supply chain constraints continue to temper Aerospace OEM results
- These industry factors will impact our overall near-term Aerospace outlook
Revenue & Expenses
Visualization of income flow from segment revenue to net income