Barnes Group Issues Q2 Outlook - Quick Facts

(RTTNews) - Barnes Group Inc. (B) said it expects second quarter adjusted earnings per share to be in the range of $0.20 to $0.30. Organic sales are projected to be lower year-on-year by approximately 30%. Operating margin is expected to be between 8.5% and 10%. The company continues to suspend 2020 full year outlook.

For the first quarter, on an adjusted basis, net income per share was $0.71, unchanged from a year ago. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.49, for the quarter. Analysts' estimates typically exclude special items.

First quarter net sales were $331 million, down 12% from prior year period, with organic sales declining 8%. Analysts expected revenue of $316.73 million for the quarter.