Barnes Group (NYSE: B) reported Q1 EPS of $0.72, $0.04 better than the analyst estimate of $0.68. Revenue for the quarter came in at $367 million versus the consensus estimate of $363.97 million.

GUIDANCE:

Barnes Group sees FY2018 EPS of $3.03-$3.15, versus the consensus of $3.04.

• Barnes Group now expects 2018 total revenue growth of 5% to 6%, with organic sales growth of 3% to 4%. Foreign exchange is anticipated to benefit revenues by approximately 2% for the year. Operating margin forecast remains in the range of 15.5% to 16.5%. Earnings are expected to be in the range of $3.03 to $3.15 per diluted share, up 5% to 9% from 2017’s adjusted diluted earnings per share of $2.88. Further, the Company continues to anticipate capital expenditures of between $60 to $65 million and cash conversion of greater than 100% of net income. Based upon our forecasted geographic mix of earnings, the effective tax rate for 2018 is expected to be between 25% and 25.5%.

For earnings history and earnings-related data on Barnes Group (B) click here.