Barnes Group Inc. (NYSE:B) Q2 2024 Earnings Call Transcript July 26, 2024 8:30 AM ET Company Participants Bill Pitts - VP of IR Thomas Hook - President and CEO Julie Streich - SVP, Finance and CFO Conference Call Participants Gregory Dahlberg - Wolfe Research Matt Summerville - D.A. Davidson Sam Struhsaker - Truist Securities Christopher Glynn - Oppenheimer Operator Thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to t ...

Core Insights - Barnes Group reported revenue of $382.23 million for the quarter ended June 2024, reflecting a year-over-year increase of 12.8% [1] - The earnings per share (EPS) for the quarter was $0.37, down from $0.58 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $398.8 million, resulting in a surprise of -4.15% [1] - The EPS also missed the consensus estimate of $0.39, with a surprise of -5.13% [1] Financial Performance Metrics - Net Sales in the Industrial segment were $164.27 million, exceeding the average estimate of $158.75 million, but showing a decline of 24.3% compared to the year-ago quarter [2] - Net Sales in the Aerospace segment were $217.96 million, below the average estimate of $240.08 million, but representing a significant increase of 78.6% year-over-year [2] - Non-GAAP Operating Profit for the Industrial segment was $15.25 million, slightly above the estimated $14.89 million [2] - Non-GAAP Operating Profit for the Aerospace segment was $32.33 million, marginally below the average estimate of $32.44 million [2] Stock Performance - Over the past month, shares of Barnes Group have returned +0.8%, contrasting with a -1.2% change in the Zacks S&P 500 composite [2] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [2]

Barnes Group (B) came out with quarterly earnings of $0.37 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.13%. A quarter ago, it was expected that this aerospace and industrial parts supplier would post earnings of $0.35 per share when it actually produced earnings of $0.38, delivering a surprise of 8.57%.Over the last fo ...

Exhibit 99.1 860.583.7070 | info@onebarnes.com onebarnes.com BARNES REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS Significant Progress Made on Transforming to an Aerospace Focused Company Comparisons are year-over-year unless noted otherwise Second Quarter 2024: • Sales of $382 million, up 13%; Organic Sales up 5% • Operating Margin of -0.6%; Adjusted Operating Margin of 12.4%, down 40 bps • Adjusted EBITDA Margin of 20.0%, up 20 bps • GAAP EPS of -$0.91; Adjusted EPS of $0.37, down 36% • Records Automation ...

For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Barnes Group (B) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.Barnes Group is one of 218 individual stocks in the Indu ...

Barnes Group (B) shares ended the last trading session 7.6% higher at $41.87. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.1% loss over the past four weeks.Barnes’ rally is largely driven by optimism regarding its strong momentum in the Aerospace segment, driven by strength in the OEM business. Also, the company’s investments in product development, new technologies and manufacturing processes bode well.This a ...

Barnes Group Inc. (B) is benefiting from the strong performance of the Aerospace segment. The wear and tear from the increased use of older planes in the commercial market, particularly with narrowbody engines like the CFM56 and V2500, is aiding the after-market sales. The company has stepped up the production of both narrow-body airframes and wide-body airframes, and its maintenance, repair and overhaul (MRO) activity is strong. This underlying strength, along with the MB Aerospace acquisition, fueled the ...

Barnes Group Inc. (B) recently finalized a long-term extension of a repair services contract with RTX Corporation’s (RTX) Pratt & Whitney Canada (“P&WC”). Per the agreement, both companies will collaborate on maintenance, repair and overhaul of highly engineered and complex parts utilized in aero engine cases, rotating components, seals and shrouds.The recently signed contract extension is a testimony to the longstanding partnership between Barnes and P&WC, which started in the 1970s. The agreement will boo ...

Barnes Group Inc. (B) has been benefiting from strong momentum in the Aerospace segment and accretive acquisitions despite weakness in the Industrial segment and the rising cost of sales.Let us discuss the factors why investors should retain the stock for the time being.Growth CatalystsBusiness Strength: Barnes is benefiting from the strong performance of the Aerospace segment. Strength in the original equipment manufacturer (OEM) and Aftermarket businesses is supporting the segment’s revenues. Continued gr ...

Have you assessed how the international operations of Barnes Group (B) performed in the quarter ended March 2024? For this aerospace and industrial parts supplier, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.In the modern, closely-knit global economic landscape, the capacity of a business to access foreign markets is often a key determinant of its financial well-being and growth path. Investor ...