Barnes Group (NYSE: B) reported Q2 EPS of $0.27, $0.05 better than the analyst estimate of $0.22. Revenue for the quarter came in at $236 million versus the consensus estimate of $242 million.

GUIDANCE:

Barnes Group sees Q3 2020 EPS of $0.22-$0.32, versus the consensus of $0.33.

• Barnes Group believes that the prevailing business environment does not allow for the forecast of performance with reasonable precision, and as such the Company continues to suspend its 2020 full year outlook. As clarity in our end markets returns, the Company will reestablish its practice of providing annual guidance.
• For the third quarter of 2020, we will continue to be impacted by the COVID-19 global pandemic. As such, our current view is for organic sales to be lower than last year’s third quarter by approximately 30%, though up sequentially from the second quarter of 2020 by approximately 6%. Operating margin is expected to approximate 10.0%. Adjusted earnings per share are anticipated to be in the range of $0.22 to $0.32. Our full year 2020 capital expenditures forecast of $40 to $45 million is down slightly from our prior view.

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