Barnes Group Q2 Adj. EPS Tops View - Quick Facts

(RTTNews) - Aerospace and industrial manufacturer Barnes Group, Inc. (B) Friday reported second-quarter net income of $34.2 million, or $0.61 per share, up from $30.2 million, or $0.54 per share, last year.

On an adjusted basis, net income for the latest quarter was $0.62 per share, up 5% from $0.59 per share, a year ago. On average, 7 analysts polled by Thomson Reuters expected the company to report profit per share of $0.61 for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales of $314.94 million were down 2% from $322.07 million in the second quarter of 2014, as positive organic growth of about 4% was more than offset by unfavorable foreign exchange of 6%. Seven analysts projected revenue of $319.83 million for the quarter.

Looking ahead to 2015, the Group now expects GAAP earnings from continuing operations to be in the range of $2.43 to $2.53 per share, adjusted earnings per share in the range of $2.45 to $2.55, total revenue growth essentially flat after consideration of unfavorable foreign exchange of approximately 5% and organic revenue growth of 4% to 6%. Analysts expect the company to report annual profit per share of $2.50.

Previously, the company expected GAAP earnings from continuing operations to be in the range of $2.43 to $2.58 per share, adjusted earnings per share in the range of $2.45 to $2.60, total revenue growth of 1% to 3% and organic revenue growth of 6% to 8%.