Barnes Group: Q2 Earnings Snapshot

July 29, 2022 GMT

BRISTOL, Conn. (AP) _ Barnes Group Inc. (B) on Friday reported a second-quarter loss of $39.6 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Bristol, Connecticut-based company said it had a loss of 78 cents. Earnings, adjusted for non-recurring costs, came to 56 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The aerospace and industrial parts supplier posted revenue of $321.3 million in the period.

Barnes Group expects full-year earnings in the range of $1.90 to $2.05 per share.

Barnes Group shares have decreased 26% since the beginning of the year. The stock has declined 31% in the last 12 months.


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