Barnes Group Q1 2023 Earnings Report

Barnes Group EPS Results

• Actual EPS: $0.47
• Consensus EPS: $0.39
• Beat/Miss: Beat by +$0.08
• One Year Ago EPS: $0.41

Barnes Group Revenue Results

• Actual Revenue: $335.40 million
• Expected Revenue: $312.91 million
• Beat/Miss: Beat by +$22.49 million
• YoY Revenue Growth: +7.20%

Barnes Group Announcement Details

• Quarter: Q1 2023
• Date: 4/27/2023
• Time: Before Market Opens

Barnes Group (NYSE:B) provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices. This segment also designs and manufactures hot runner systems, mold cavity sensors and process control systems, and precision high cavitation mold assemblies for injection molding applications; provides force and motion control solutions for various metal forming and other industrial markets; and designs and develops robotic grippers, end-of-arm tooling systems, sensors, and other automation components for intelligent robotic handling solutions and industrial automation applications. In addition, it manufactures and supplies precision mechanical products, including mechanical springs, and high-precision punched and fine-blanked components used in mobility and industrial applications. This segment sells its products primarily through its direct sales force and distribution channels. The Aerospace segment produces fabricated and precision machined components and assemblies for turbine engines; and nacelles and structures for commercial and defense-related aircraft. It also provides aircraft engine component maintenance, repair, and overhaul services for turbine engine manufacturers, commercial airlines, and defense market; and manufactures and delivers aerospace aftermarket spare parts. This segment serves original equipment manufacturing industry. Barnes Group Inc. was founded in 1857 and is headquartered in Bristol, Connecticut.