Barnes Group (B) Tops Q3 EPS by 3c, Offers Q4 Guidance

Barnes Group (NYSE: B) reported Q3 EPS of $0.30, $0.03 better than the analyst estimate of $0.27. Revenue for the quarter came in at $269 million versus the consensus estimate of $245.79 million.

GUIDANCE:

Barnes Group sees Q4 2020 EPS of $0.27-$0.35, versus the consensus of $0.34.

• For the fourth 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 fourth quarter by approximately 20%, though up sequentially from the third quarter of 2020 by approximately 5%. Operating margin is expected to approximate 11.0%. Adjusted earnings per share are anticipated to be in the range of $0.27 to $0.35. Our full year 2020 capital expenditures forecast of $40 million is down slightly from our prior view.

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

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