[Part I. FINANCIAL INFORMATION](index=3&type=section&id=Part%20I.%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) The company's financial performance was significantly impacted by the COVID-19 pandemic, leading to substantial declines in net sales and net income for Q2 2020, alongside balance sheet shifts and strategic divestiture actions Consolidated Statements of Income Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2020 | Three Months Ended June 30, 2019 | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $235,537 | $371,669 | $566,207 | $748,360 | | **Operating income** | $10,115 | $56,957 | $59,429 | $107,607 | | **Net income** | $567 | $37,616 | $30,300 | $71,608 | | **Diluted EPS** | $0.01 | $0.73 | $0.59 | $1.38 | Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $74,238 | $93,805 | | Total current assets | $665,522 | $764,390 | | Goodwill | $934,001 | $933,022 | | **Total assets** | **$2,588,496** | **$2,738,335** | | Long-term debt | $711,357 | $825,017 | | **Total liabilities** | **$1,330,790** | **$1,467,807** | | **Total stockholders' equity** | **$1,257,706** | **$1,270,528** | Consolidated Statements of Cash Flows Highlights (in thousands) | Metric | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | Net cash provided by operating activities | $123,077 | $108,155 | | Net cash provided (used) in investing activities | $10,688 | $(25,261) | | Net cash used in financing activities | $(151,610) | $(88,774) | | **Decrease in cash and cash equivalents** | **$(19,567)** | **$(5,849)** | - The company completed the sale of its Seeger business on February 1, 2020, yielding net cash proceeds of **$36.9 million** after transaction costs. The sale resulted in tax charges of **$4.2 million** and divestiture charges of **$2.4 million** in Q1 2020[15](index=15&type=chunk) - In response to the COVID-19 pandemic, the company initiated restructuring and workforce reduction actions, recording a pre-tax charge of **$18.2 million** in Q2 2020. These actions are expected to reduce the global workforce by approximately **8%**[99](index=99&type=chunk) - Annual impairment testing for goodwill and indefinite-lived intangible assets was performed in the second quarter of 2020, and no impairments were found[55](index=55&type=chunk)[57](index=57&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the significant 36.6% decline in Q2 2020 net sales to the COVID-19 pandemic, which caused a 32.1% drop in organic sales, impacting both Industrial and Aerospace segments [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Net sales for Q2 2020 fell 36.6% to $235.5 million, with organic sales down 32.1%, driven by pandemic-related disruptions across global end markets Q2 2020 vs Q2 2019 Sales by Segment (in millions) | Segment | Q2 2020 Sales | Q2 2019 Sales | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Industrial | $165.0 | $233.4 | $(68.4) | (29.3)% | | Aerospace | $70.5 | $138.3 | $(67.8) | (49.0)% | | **Total** | **$235.5** | **$371.7** | **$(136.1)** | **(36.6)%** | - The Industrial segment experienced an operating loss of **$0.3 million** in Q2 2020, a significant drop from a **$27.4 million** profit in Q2 2019, driven by lower organic sales and **$15.8 million** in restructuring charges[128](index=128&type=chunk) - The Aerospace segment's operating profit decreased **64.7%** to **$10.4 million** in Q2 2020. OEM backlog fell **30.7%** since year-end 2019 to **$555.2 million**, reflecting production cuts at major customers like Boeing and Airbus[133](index=133&type=chunk)[134](index=134&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a solid liquidity position with $74.2 million in cash and access to its credit facility, while suspending share repurchases to preserve cash amidst the pandemic - Cash from operations was **$123.1 million** for the first half of 2020, an increase from **$108.2 million** in the prior year period, primarily due to better working capital management[155](index=155&type=chunk) - The company suspended its share repurchase program in Q2 2020 to preserve liquidity due to the COVID-19 pandemic. **0.4 million shares** were repurchased in Q1 2020 for **$15.6 million**[145](index=145&type=chunk) Debt Covenant Compliance as of June 30, 2020 | Covenant | Actual Ratio | Maximum/Minimum Allowed | | :--- | :--- | :--- | | Ratio of Consolidated Senior Debt to Consolidated EBITDA | 2.38x | 3.25x (Max) | | Ratio of Consolidated Total Debt to Consolidated EBITDA | 2.38x | 3.75x (Max) | | Ratio of Consolidated EBITDA to Consolidated Cash Interest Expense | 16.43x | 4.25x (Min) | [Critical Accounting Policies](index=39&type=section&id=Critical%20Accounting%20Policies) The company's critical accounting policies include the annual impairment testing of goodwill and indefinite-lived intangible assets, with no impairments found in the Q2 2020 assessment - Management completed its annual goodwill impairment test in Q2 2020. While the fair value of the Automation reporting unit (Gimatic acquisition) exceeded its carrying value, the margin was less significant than for other units. No impairment was recorded[163](index=163&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=41&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The report refers to the company's Annual Report on Form 10-K for the year ended December 31, 2019, for a full discussion of its exposure to market risk - For discussion of the Company's exposure to market risk, readers are referred to the Annual Report on Form 10-K for the year ended December 31, 2019[169](index=169&type=chunk) [Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of the end of the quarter - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2020[170](index=170&type=chunk) - No changes in internal control over financial reporting occurred during Q2 2020 that materially affected, or are reasonably likely to materially affect, internal controls[171](index=171&type=chunk) [Part II. OTHER INFORMATION](index=42&type=section&id=Part%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings in the ordinary course of business but does not expect the outcomes to have a material adverse effect on its financial position, cash flows, or results of operations - The company is involved in litigation from time to time but does not anticipate any material adverse effect from the outcome of current proceedings[173](index=173&type=chunk) [Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) A material risk factor has been added concerning the COVID-19 pandemic, which has negatively impacted the global economy and the company's operations and financial performance, particularly in the air travel and aviation industries - The company has identified the COVID-19 pandemic as a new material risk factor, citing its adverse impact on the global economy, supply chains, and financial markets[175](index=175&type=chunk)[176](index=176&type=chunk) - The pandemic has had a material impact on the air travel and aviation industries, affecting major customers like General Electric and posing a significant risk to the Aerospace business's results[177](index=177&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase any shares under its publicly announced repurchase program during Q2 2020, suspending it to preserve liquidity amid the COVID-19 pandemic - The Board of Directors authorized a total of **5.0 million shares** for repurchase under the program. As of June 30, 2020, approximately **3.7 million shares** may yet be purchased[182](index=182&type=chunk)[183](index=183&type=chunk) - No shares were repurchased as part of the publicly announced plan in the second quarter (April-June 2020). Share repurchase activity was suspended due to the COVID-19 pandemic[145](index=145&type=chunk)[182](index=182&type=chunk) [Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including officer certifications (Sarbanes-Oxley Act Sections 302 and 906), a letter regarding unaudited interim financial information, and XBRL data files

[Part I. FINANCIAL INFORMATION](index=3&type=section&id=Part%20I.%20FINANCIAL%20INFORMATION) This section provides the unaudited financial statements and management's discussion and analysis for the first quarter, along with market risk disclosures and controls [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited consolidated financial statements for Barnes Group Inc. for the quarterly period ended March 31, 2020. It includes the Consolidated Statements of Income, Comprehensive Income, Balance Sheets, and Cash Flows, along with detailed Notes to the Financial Statements. Key events include the divestiture of the Seeger business, which impacted financial results and cash flows [Consolidated Statements of Income](index=3&type=section&id=Consolidated%20Statements%20of%20Income) This section presents the unaudited consolidated statements of income for the three months ended March 31, 2020 and 2019 Consolidated Statements of Income (Three Months Ended March 31) | Metric | 2020 (in millions) | 2019 (in millions) | | :--- | :--- | :--- | | **Net sales** | $330.7M | $376.7M | | Operating income | $49.3M | $50.6M | | Income before income taxes | $43.4M | $43.7M | | **Net income** | **$29.7M** | **$34.0M** | | **Diluted EPS** | **$0.58** | **$0.65** | [Consolidated Statements of Comprehensive Income](index=4&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) This section presents the unaudited consolidated statements of comprehensive income for the three months ended March 31, 2020 and 2019 Consolidated Statements of Comprehensive Income (Three Months Ended March 31) | Metric | 2020 (in millions) | 2019 (in millions) | | :--- | :--- | :--- | | Net income | $29.7M | $34.0M | | Total other comprehensive loss, net of tax | $(34.2)M | $(8.2)M | | **Total comprehensive (loss) income** | **$(4.5)M** | **$25.8M** | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) This section presents the unaudited consolidated balance sheets as of March 31, 2020, and December 31, 2019 Consolidated Balance Sheets Highlights | Metric | March 31, 2020 (in millions) | December 31, 2019 (in millions) | | :--- | :--- | :--- | | Cash and cash equivalents | $112.8M | $93.8M | | Total current assets | $756.6M | $764.4M | | **Total assets** | **$2667.6M** | **$2738.3M** | | Total current liabilities | $351.6M | $342.9M | | Long-term debt | $783.4M | $825.0M | | **Total stockholders' equity** | **$1245.0M** | **$1270.5M** | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This section presents the unaudited consolidated statements of cash flows for the three months ended March 31, 2020 and 2019 Consolidated Statements of Cash Flows (Three Months Ended March 31) | Metric | 2020 (in millions) | 2019 (in millions) | | :--- | :--- | :--- | | Net cash provided by operating activities | $47.2M | $53.1M | | Net cash provided (used) in investing activities | $18.5M | $(13.4)M | | Net cash used in financing activities | $(43.6)M | $(37.0)M | | **Increase in cash and cash equivalents** | **$19.0M** | **$2.8M** | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed explanations of the accounting policies and financial data presented in the statements. Key notes cover the divestiture of the Seeger business, revenue recognition details, segment performance, debt structure, and derivative instruments - On February 1, 2020, the company completed the sale of its Seeger business for gross proceeds of **39.6 million Euros** (**$43.7 million**), resulting in net cash proceeds of **$36.9 million**. This led to divestiture charges of **$2.4 million** and tax charges of **$4.2 million** in Q1 2020[16](index=16&type=chunk)[17](index=17&type=chunk) - Revenue from goods and services transferred over time accounted for approximately **15% of revenue** in Q1 2020, an increase from 10% in Q1 2019. The remaining performance obligations for contracts longer than one year stood at **$207.3 million** as of March 31, 2020[33](index=33&type=chunk)[45](index=45&type=chunk) - The company's effective tax rate for Q1 2020 was **31.5%**, a significant increase from **22.3%** in Q1 2019, primarily due to tax expenses related to the Seeger divestiture[79](index=79&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the financial results for Q1 2020, highlighting a 12.2% decrease in net sales to $330.7 million, driven by an 8.3% organic sales decline and the Seeger divestiture. The COVID-19 pandemic began to negatively impact demand late in the quarter. Despite lower sales, operating margin improved to 14.9% from 13.4%. The report details performance by the Industrial and Aerospace segments, liquidity position, and actions taken in response to the pandemic, such as cost reductions and suspension of share repurchases Q1 2020 vs Q1 2019 Performance | Metric | Q1 2020 | Q1 2019 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $330.7M | $376.7M | $(46.0)M | (12.2)% | | Operating Income | $49.3M | $50.6M | $(1.3)M | (2.6)% | | Operating Margin | 14.9% | 13.4% | +1.5 p.p. | - | | Net Income | $29.7M | $34.0M | $(4.3)M | (12.5)% | - The COVID-19 pandemic began to negatively impact sales late in the first quarter, with growing pressure on automotive and aerospace end markets. In response, the company has implemented temporary compensation reductions, employee furloughs, and suspended share repurchase activity[104](index=104&type=chunk)[105](index=105&type=chunk)[110](index=110&type=chunk) - The company maintains a strong liquidity position with **$112.8 million** in cash and **$320.9 million** of undrawn borrowing capacity under its credit facility as of March 31, 2020. The company was in compliance with all debt covenants[105](index=105&type=chunk)[137](index=137&type=chunk) [Financial Performance by Business Segment](index=29&type=section&id=Financial%20Performance%20by%20Business%20Segment) The Industrial segment's sales fell 17.9% to $199.1 million, hit by softness in automotive markets, the Seeger divestiture, and COVID-19 impacts, though operating margin slightly improved to 9.0%. The Aerospace segment saw a smaller sales decline of 2.0% to $131.6 million, as aftermarket growth partially offset an OEM decline related to the 737 MAX suspension. Aerospace operating margin increased significantly to 23.9% from 21.7% due to a favorable sales mix Industrial Segment Performance (Q1 2020 vs Q1 2019) | Metric | Q1 2020 | Q1 2019 | % Change | | :--- | :--- | :--- | :--- | | Sales | $199.1M | $242.5M | (17.9)% | | Operating Profit | $17.9M | $21.5M | (16.6)% | | Operating Margin | 9.0% | 8.9% | +0.1 p.p. | Aerospace Segment Performance (Q1 2020 vs Q1 2019) | Metric | Q1 2020 | Q1 2019 | % Change | | :--- | :--- | :--- | :--- | | Sales | $131.6M | $134.2M | (2.0)% | | Operating Profit | $31.4M | $29.1M | 7.7% | | Operating Margin | 23.9% | 21.7% | +2.2 p.p. | - Aerospace OEM backlog decreased **12.2%** from year-end 2019 to **$703.1 million** at March 31, 2020, largely due to changes in GE's production schedules for aircraft engines[127](index=127&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company generated $47.2 million in cash from operations in Q1 2020, down from $53.1 million in Q1 2019. Investing activities provided $18.5 million, primarily from the Seeger divestiture. Financing activities used $43.6 million, including $15.6 million for share repurchases and $8.1 million for dividends. The company ended the quarter with $112.8 million in cash and was in full compliance with its debt covenants, with a Senior Debt to EBITDA ratio of 2.39 times against a maximum of 3.25 times Cash Flow Summary (Q1 2020 vs Q1 2019) | Activity (in millions) | Q1 2020 | Q1 2019 | | :--- | :--- | :--- | | Operating Cash Flow | $47.2M | $53.1M | | Investing Cash Flow | $18.5M | $(13.4)M | | Financing Cash Flow | $(43.6)M | $(37.0)M | | **Increase in Cash** | **$19.0M** | **$2.8M** | - The company repurchased **0.4 million shares** for **$15.6 million** in Q1 2020 but has since suspended share repurchase activity due to the COVID-19 pandemic[136](index=136&type=chunk) - The company's borrowing capacity under its credit facility was limited by covenants to **$294.2 million** at March 31, 2020, despite having **$320.9 million** unused on the facility[148](index=148&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section refers the reader to the company's Annual Report on Form 10-K for the year ended December 31, 2019, for a full discussion of its exposure to market risk - For a detailed discussion of the Company's exposure to market risk, readers are directed to the 2019 Annual Report on Form 10-K[154](index=154&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of March 31, 2020. There were no material changes to the company's internal control over financial reporting during the first quarter of 2020 - The President and CEO, along with the CFO, concluded that the company's disclosure controls and procedures were effective as of the end of Q1 2020[155](index=155&type=chunk) - No changes in internal control over financial reporting occurred during Q1 2020 that have materially affected, or are reasonably likely to materially affect, these controls[156](index=156&type=chunk) [Part II. OTHER INFORMATION](index=37&type=section&id=Part%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, updated risk factors, equity security sales, and a list of exhibits [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings in the ordinary course of business. Management does not expect the outcome of these proceedings, individually or in aggregate, to have a material adverse effect on the company's financial position, cash flows, or results of operations - The company states that pending litigation is not expected to have a material adverse effect on its financial condition or results of operations[158](index=158&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) This section introduces a material change to the company's risk factors, specifically addressing the significant negative impact of the COVID-19 pandemic. The risks highlighted include disruptions to the global economy and supply chains, adverse effects on customer demand (particularly in the air travel and aviation industries), and the potential for the pandemic to heighten other existing business risks - A new material risk factor has been added regarding the COVID-19 pandemic, which has negatively impacted the global economy, supply chains, and financial markets[159](index=159&type=chunk)[160](index=160&type=chunk) - The pandemic poses specific risks to the Aerospace business due to severe disruptions in the air travel and aviation industries, which could materially affect results, especially given the reliance on major customers like General Electric[161](index=161&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the first quarter of 2020, the company repurchased 396,000 shares as part of its publicly announced repurchase program at an average price of $39.27 per share. As of March 31, 2020, 3,704,000 shares remained authorized for repurchase under the program Issuer Purchases of Equity Securities (Q1 2020) | Period | Total Shares Purchased | Average Price Paid Per Share | Shares Purchased as Part of Program | | :--- | :--- | :--- | :--- | | Jan 2020 | 938 | $64.64 | — | | Feb 2020 | 223 | $65.07 | — | | Mar 2020 | **396,192** | **$39.27** | **396,000** | | **Total** | **397,353** | **$39.35** | **396,000** | - As of March 31, 2020, **3,704,000 shares** may yet be purchased under the company's publicly announced repurchase program[166](index=166&type=chunk)[167](index=167&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q report. These include an offer letter, forms of award agreements, a letter regarding unaudited interim financial information, certifications by the CEO and CFO pursuant to the Sarbanes-Oxley Act, and XBRL data files - Exhibits filed with the report include executive compensation documents, Sarbanes-Oxley certifications (Sections 302 and 906), and XBRL interactive data files[169](index=169&type=chunk)[172](index=172&type=chunk)

Barnes Group Inc. (NYSE:B) Q1 2020 Earnings Conference Call April 24, 2020 8:30 AM ET Company Participants Bill Pitts - Director of IR Patrick J. Dempsey - President and CEO Christopher J. Stephens - SVP, Finance and CFO Conference Call Participants Christopher Glynn - Oppenheimer & Company Myles Walton - UBS Timothy Wojs - Robert W. Baird Edward Marshall - Sidoti & Company Michael Ciarmoli - SunTrust Robinson Humphrey Pete Skibitski - Alembic Global Matt Summerville - Alembic Global Advisors Operator Ladie ...

Table of Content UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ 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 of incorporation) (I.R.S. E ...

Financial Data and Key Metrics Changes - For Q4 2019, total sales decreased by 4% year-over-year, with organic sales also down by 4% [21] - Adjusted operating income increased by 8% to $64 million, with operating margin improving by 190 basis points to 17.2% [21] - Full-year 2019 sales were $1.5 billion, down slightly from the previous year, with organic sales down by 2% [23] - Adjusted operating income reached a record $244 million, with adjusted operating margin increasing by 40 basis points to 16.4% [23] Business Line Data and Key Metrics Changes - **Industrial Segment**: Q4 sales were $231 million, down 9% year-over-year, with organic sales decreasing by 10% [25] - **Aerospace Segment**: Q4 sales increased by 8% to $139 million, with OEM sales up by 7% and aftermarket sales up by 10% [27] - **Molding Solutions**: Organic sales declined by 8% in 2019, with strong demand in Medical Molds contrasting with weakness in automotive hot runners [8][9] Market Data and Key Metrics Changes - The Industrial segment experienced an 8% decline in organic sales for 2019, with a book-to-bill ratio just under 1x [8] - Global auto production declined by approximately 6% in 2019, impacting Engineered Components sales, which fell by 9% [10] - Aerospace backlog at the end of 2019 was $801 million, with expectations to ship approximately 50% of this backlog within the next 12 months [28] Company Strategy and Development Direction - The company plans to invest approximately $5 million in innovation efforts, focusing on materials, software, hardware, and sensors [13][14] - The divestiture of the Seeger business is part of a strategy to transform the portfolio towards more intellectual property and enabling technologies [46] - The company aims for low single-digit organic revenue growth in 2020, with a focus on maintaining high operating margins [14][29] Management's Comments on Operating Environment and Future Outlook - Management noted that the aerospace business remains strong, but the Boeing 737 MAX situation will weigh on OEM growth expectations in 2020 [17] - The company anticipates potential revenue risks in Q1 2020 due to the coronavirus outbreak, estimating a $10 million to $15 million impact [19] - Management expressed confidence in the long-term growth potential of automation markets despite short-term challenges [12] Other Important Information - The effective tax rate for 2019 was 23.4%, an increase from 19.9% the previous year [23] - Free cash flow for 2019 was $195 million, with capital expenditures of $53 million [24] - The company plans to host another Investor Day on September 24, 2020, to discuss strategic updates [31] Q&A Session Summary Question: Free cash flow outlook for 2020 - Management indicated that they expect operating cash flow in 2020 to be consistent with or better than 2019 performance, with no significant pension contributions anticipated [35] Question: Investment sustainability and growth acceleration - The $5 million investment in R&D is part of a long-term strategy to differentiate the company and is expected to yield returns in future years [37] Question: Aerospace OEM backlog visibility - Management confirmed strong visibility in the Aerospace OEM business, with the backlog providing confidence despite the 737 MAX challenges [41] Question: Impact of aftermarket on revenue - Management noted that current aircraft utilization remains high, and they have not seen significant headwinds in aftermarket orders despite recent airline revenue predictions [43] Question: Rationale for Seeger divestiture - The divestiture was part of a strategy to focus on higher-margin, differentiated offerings, with the sale price around $47 million and after-tax proceeds of approximately $36 million [46][47]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Emerging growth company ☐ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 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) (State or other jurisd ...

Barnes Group Inc. (NYSE:B) Q3 2019 Earnings Conference Call October 25, 2019 8:30 AM ET Company Participants Bill Pitts - Director of Investor Relations Patrick Dempsey - President and Chief Executive Officer Christopher Stephens - Chief Financial Officer and Senior Vice President of Finance Conference Call Participants Edward Marshall - Sidoti & Company Christopher Glynn - Oppenheimer Matt Summerville - D.A. Davidson Myles Walton - UBS Pete Skibitski - Alembic Global Timothy Wojs - Robert W. Baird Michael ...