Barnes Group Updates 2017 Outlook - Quick Facts

(RTTNews) - Barnes Group Inc. (B) announced, for 2017, adjusted earnings from continuing operations are expected to be in the range of $2.84 to $2.89 per share, up 12% to 14% from last year. Previously, adjusted earnings from continuing operations were expected to be in the range of $2.80 to $2.90.

The company now expects 2017 total revenue growth of 15.5% to 16.5% with organic revenue growth of 10.5% to 11.5%. Previously, the company expected 2017 total revenue growth of 14% to 15% with organic revenue growth of 9% to 10%.

For the third-quarter, on an adjusted basis, net income was $0.66 per share, down 7% from $0.71 last year. Net sales were $357 million, up 15% from $312 million in the prior year period driven by organic sales growth of 8%.