Barnes Group: 2Q Earnings Snapshot
BRISTOL, Conn. (AP) _ Barnes Group Inc. (B) on Friday reported second-quarter profit of $37.6 million.
On a per-share basis, the Bristol, Connecticut-based company said it had net income of 73 cents. Earnings, adjusted for non-recurring costs, came to 75 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The aerospace and industrial parts supplier posted revenue of $371.7 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $387.2 million.
Barnes Group expects full-year earnings in the range of $3.18 to $3.28 per share.
Barnes Group shares have dropped 0.5% since the beginning of the year. The stock has decreased 13% in the last 12 months.