Barnes Group Q3 2022 Earnings Report
Key Takeaways
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.
Sales of $315 million, down 3% from last year; Organic Sales up 2%
Operating Margin of 9.5%; Adjusted Operating Margin of 12.4%, down 110 bps from a year ago
GAAP EPS of $0.33; Adjusted EPS of $0.49, down 11% versus the prior year period
Forecasts 2022 Organic Sales Growth of +5% to +6%
Barnes Group
Barnes Group
Barnes Group Revenue by Segment
Forward Guidance
Barnes expects organic sales growth of 5% to 6% for the current year. Adjusted operating margin is now forecasted to be in the range of 11.5% to 12%. Adjusted earnings are expected to be in the range of $1.90 to $2.00 per share.
Positive Outlook
- Expecting 2022 Adjusted EPS of $1.90 to $2.00; Down 2% to Up 3% from 2021 Adjusted EPS of $1.94
- Organic sales growth of 5% to 6% for the current year
- Adjusted operating margin is now forecasted to be in the range of 11.5% to 12%
- Strong Aerospace Aftermarket
Challenges Ahead
- Geopolitical and economic uncertainty
- Ongoing challenges within our Industrial Segment
- Negative foreign exchange of approximately 4%
- Reduction of $0.05 from the high end of our previous range
Revenue & Expenses
Visualization of income flow from segment revenue to net income