|Bid||34.48 x 900|
|Ask||35.15 x 800|
|Day's Range||33.88 - 34.70|
|52 Week Range||29.60 - 50.34|
|Beta (5Y Monthly)||1.17|
|PE Ratio (TTM)||19.70|
|Earnings Date||Apr 28, 2022 - May 02, 2022|
|Forward Dividend & Yield||0.64 (1.89%)|
|Ex-Dividend Date||Aug 24, 2022|
|1y Target Est||41.00|
Barnes Group's (B) Q2 results reflect higher sales in Aerospace. However, B lowers the adjusted operating margin forecast due to the lackluster performance of the Industrial segment.
Shares in engineering products company Barnes Group (NYSE: B) fell more than 8% by midday today. Barnes sells into two main end markets: industrial (healthcare, automation, mobility, packaging, and advanced packaging) and aerospace (commercial and military).
Barnes Group Inc. (NYSE: B) reported that second-quarter FY22 sales were flat year-over-year at $321.27 million, +5% on an organic basis, missing the consensus of $329.1 million. Adjusted EPS improved to $0.56 compared to $0.45 in 2Q21, beating the consensus of $0.48. The company reported an operating loss of $(28.19) million, compared to a profit of $38.54 million a year ago. Industrial segment sales decreased by 9.6% Y/Y, and Aerospace segment sales increased by 26.2% Y/Y to $109.15 million. B