16.02.2024 12:42:40

Barnes Group Q4 Profit Declines, But Better Than Estimates - Update

(RTTNews) - (Adds Outlook)

Barnes Group Inc (B) released earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $7.216 million, or $0.14 per share. This compares with $15.569 million, or $0.30 per share, in last year's fourth quarter.

Excluding items, Barnes Group Inc reported adjusted earnings of $0.41 per share for the period.

Analysts on average had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 32.6% to $415.542 million from $313.473 million last year.

Outlook:

Looking ahead, for the full year, the company provided adjusted earnings outlook of $1.55 to $1.80 per share, in line with analysts' average estimates of $1.71 per share.

Barnes Group Inc Q4 earnings at a glance (GAAP) :

-Earnings (Q4): $7.216 Mln. vs. $15.569 Mln. last year. -EPS (Q4): $0.14 vs. $0.30 last year. -Analyst Estimates: $0.35 -Revenue (Q4): $415.542 Mln vs. $313.473 Mln last year.

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Barnes Group Inc. 45,20 5,61% Barnes Group Inc.