NEW YORK--(BUSINESS WIRE)--Irenic Capital Management LP (together with its affiliates, “Irenic” or “we”), a top shareholder of Barnes Group Inc. (NYSE: B) (“Barnes” or the “Company”) and the beneficial owner of approximately 5.1% of the Company’s outstanding common stock, today issued the following statement from Co-Founder and Chief Investment Officer Adam Katz: “ We are committed to working constructively and in good faith to help Barnes realize its potential. Today's underwhelming results for the fourth ...

Barnes Group Inc. (NYSE:B) Q4 2023 Earnings Conference Call February 16, 2024 8:30 AM ET Company Participants William Pitts - VP, IR Thomas J. Hook - President and CEO Julie K. Streich - SVP, Finance and CFO Ian Reason - SVP, Barnes and President, Barnes Aerospace Conference Call Participants Matt Summerville - D.A. Davidson & Co. Christopher Glynn - Oppenheimer & Co. Myles Walton - Wolfe Research Michael Ciarmoli - Truist Securities Operator Good morning. My name is Krista and I will be your conference ope ...

Fourth Quarter & Full Year 2023 Earnings Presentation February 16, 2024 The data in this package should be read in conjunction with Barnes Group Inc.’s earnings release and periodic filings with the SEC. Today’s Speakers ...

Core Insights - Barnes Group Inc. reported significant financial growth in Q4 and full year 2023, with a focus on business transformation and strategic acquisitions to enhance capabilities and customer relationships [1][2]. Q4 2023 Highlights - Sales reached $416 million, a 33% increase year-over-year, driven by 2% organic growth, 28% from acquisitions, and 2% favorable foreign exchange [2]. - Operating income was $29.7 million, up 23%, with an operating margin of 7.1%, down 60 basis points [2]. - Adjusted operating income increased by 36% to $47.7 million, with an adjusted operating margin of 11.5%, up 30 basis points [2]. - Interest expense rose significantly to $23.6 million from $4.4 million due to higher borrowings related to the MB Aerospace acquisition [2]. Full Year 2023 Highlights - Total sales for the year were $1,451 million, a 15% increase, supported by 5% organic growth and 9% from acquisitions [4]. - Operating income increased by 56% to $89.0 million, with an operating margin of 6.1%, up 160 basis points [4]. - Adjusted operating profit was $167.3 million, up 15%, with an adjusted operating margin of 11.5%, down 10 basis points [4]. - Interest expense for the year was $58.2 million, compared to $14.6 million in the previous year, reflecting increased borrowings [5]. Segment Performance Aerospace - Q4 sales were $213 million, a 96% increase, with organic sales up 15% and acquisition-related sales contributing 81% [8]. - Full year sales reached $608 million, a 42% increase, with organic sales up 15% [9]. - Aerospace OEM backlog at year-end was $1.23 billion, expected to convert approximately 50% to revenue in the next 12 months [9]. Industrial - Q4 sales were $203 million, down 1%, with organic sales decreasing by 4% [10]. - Full year sales were $843 million, a 1% increase, with flat organic sales [11]. Balance Sheet and Liquidity - As of December 31, 2023, the company had $90 million in cash and $357 million available under its revolving credit facility [12]. - The "Net Debt to EBITDA" ratio was approximately 3.64, down from 3.77 at the end of Q3 [12]. 2024 Full Year Outlook - The company expects organic sales growth of 4% to 8% and an adjusted operating margin of 12% to 14% [13][14]. - Adjusted earnings per share guidance is set at $1.55 to $1.80, excluding certain restructuring and acquisition-related impacts [14].

In its upcoming report, Barnes Group (B) is predicted by Wall Street analysts to post quarterly earnings of $0.35 per share, reflecting a decline of 32.7% compared to the same period last year. Revenues are forecasted to be $419.75 million, representing a year-over-year increase of 33.9%.The consensus EPS estimate for the quarter has been revised 1.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates duri ...

BRISTOL, Conn.--(BUSINESS WIRE)--The Board of Directors of Barnes Group Inc. (NYSE: B) has declared a quarterly cash dividend of sixteen cents ($0.16) per share. The dividend will be payable March 8, 2024, to shareholders of record at the close of business on February 22, 2024. Barnes and its predecessor companies have paid a cash dividend to stockholders on a continuous basis since 1934. About Barnes Barnes Group Inc. (NYSE: B) leverages world-class manufacturing capabilities and market-leading engineer ...

Barnes Group Inc. (B) recently entered into an agreement with One Equity Partners for the divestment of its Associated Spring and Hänggi businesses. The deal, valued at $175 million, includes a $15 million seller promissory note set to mature in two years. Barnes expects to utilize the net cash proceeds from the transaction, worth $150 million, to reduce the debt incurred from the MB Aerospace buyout in August 2023.The company’s shares increased 4.5% yesterday, ending the trading session at $31.77.Based in ...

BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B), a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, today announced that it has entered into a definitive agreement to sell its Associated Spring™ and Hänggi™ businesses to One Equity Partners. The transaction is valued at $175 million, inclusive of a $15 million seller promissory note due in 24 months. Expected net cash proceeds of $150 million will be used to reduce debt incurred fr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-4801 BARNES GROUP INC. (Exact name of registrant as specified in its charter) Delaware 06-0247840 (State or other jurisdiction ...

Barnes Group Inc. (NYSE:B) Q3 2023 Earnings Conference Call October 27, 2023 8:30 AM ET Company Participants Bill Pitts - Vice President, Investor Relations Thomas Hook - President and CEO Julie Streich - Senior Vice President, Finance and CFO Conference Call Participants Pete Osterland - Truist Lou Raffetto - Wolfe Research Matt Summerville - D. A. Davidson Christopher Glynn - Oppenheimer Operator Hello. And welcome to the Barnes Third Quarter 2023 Earnings Conference Call and Webcast. All lines have been ...