Barnes Group Inc. (B - Free Report) is a manufacturer of precision metal parts as well as distributes industrial supplies worldwide. End-markets served include aerospace, transportation, industrial equipment, consumer products, packaging, electronics, medical devices, energy, medical/pharmaceutical, and personal care/health care industries. It currently has a $3.2 billion market capitalization.
However, this machinery company faces risks from regulatory issues in the aerospace business, unfavorable foreign currency movements and uncertain global economic conditions. Investors are eagerly waiting for the company’s latest earnings report.
The company’s financial performance in the last four quarters was impressive, with better-than-expected results in each. Average earnings surprise was a positive 8.94%.
Currently, Barnes Group has a Zacks Rank #2 (Buy), but that could definitely change after the release of its upcoming earnings report. You can see the complete list of today’s Zacks #1 Rank stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Barnes Group’ adjusted earnings came in at 81 cents per share in second-quarter of 2017. The bottom line result surpassed the Zacks Consensus Estimate of 69 cents per share.
Revenue: Revenues surpassed. Barnes Group generated revenues of $364 million, above the Zacks Consensus Estimate of $337.8 million.
Key Stats to Note: For 2017, Barnes Group increased its organic revenue growth projection to 9-10% while total revenue is predicted to grow 14-15%. Adjusted earnings is anticipated to be within $2.80-$2.90 per share range versus previous expectation of $2.68-$2.78.
Stock Price: Barnes Group shares were down 0.76% ahead of the report.
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