Barnes Group (B) Tops Q1 EPS by 7c, Updates Guidance
Get Alerts B Hot Sheet
Price: $35.91 -0.97%
Revenue Growth %: +27.8%
Financial Fact:
Net sales: 311.56M
Today's EPS Names:
FRSB, DGICA, UXIN, More
Revenue Growth %: +27.8%
Financial Fact:
Net sales: 311.56M
Today's EPS Names:
FRSB, DGICA, UXIN, More
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Barnes Group (NYSE: B) reported Q1 EPS of $0.38, $0.07 better than the analyst estimate of $0.31. Revenue for the quarter came in at $302 million versus the consensus estimate of $278.8 million.
GUIDANCE:
Barnes Group sees FY2021 EPS of $1.78-$1.98, versus the consensus of $1.79.
- Barnes Group now expects 2021 organic sales to be up 10% to 12%, up from the prior 6% to 8% expectation. Foreign exchange is anticipated to have an approximate 2% favorable impact on 2021 sales, while divested revenues will have an approximate negative 1% impact. Operating margin is forecasted to be approximately 13%. Earnings per share are now expected to be in the range of $1.78 to $1.98, up 9% to 21% from 2020’s adjusted earnings per share of $1.64 and above our prior expectation of $1.65 to $1.90. Further, the Company forecasts capital expenditures of approximately $50 million and cash conversion of greater than 100% of net income. The effective tax rate for 2021 is expected to be approximately 30%.
For earnings history and earnings-related data on Barnes Group (B) click here.
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