Barnes Group Guides FY22 Adj. EPS In Line; Q4 Profit Rises 58% - Quick Facts

(RTTNews) - While reporting financial for the fourth quarter on Friday, Barnes Group, Inc. (B), a provider of highly engineered products, initiated its adjusted earnings and organic sales growth guidance for the full-year 2022.

For fiscal 2022, the company now projects earnings in a range of $2.18 to $2.43 per share and adjusted earnings in a range of $2.20 to $2.45 per share on organic sales growth of 8 to 10 percent.

On average, five analysts polled by Thomson Reuters expect the company to report earnings of $2.34 per share on revenue growth of 8.4 percent to $1.37 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company reported net income of $28.14 million or $0.55 per share, up from $17.72 million or $0.35 per share in the prior-year quarter. Net sales for the quarter increased 7.6 percent to $311.00 million from $289.13 in the same quarter last year. Organic sales were up 9 percent.

The Street was looking for earnings of $0.47 per share on revenues of $315.58 million for the quarter.