Previous Close | 35.53 |
Open | 35.08 |
Bid | 31.84 x 900 |
Ask | 0.00 x 800 |
Day's Range | 34.64 - 35.34 |
52 Week Range | 29.60 - 49.10 |
Volume | |
Avg. Volume | 208,745 |
Market Cap | 1.769B |
Beta (5Y Monthly) | 1.17 |
PE Ratio (TTM) | 47.97 |
EPS (TTM) | 0.73 |
Earnings Date | Oct 27, 2022 - Oct 31, 2022 |
Forward Dividend & Yield | 0.64 (1.83%) |
Ex-Dividend Date | Aug 24, 2022 |
1y Target Est | 37.00 |
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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