Barnes Group reports Q3 adjusted EPS 9c, consensus 39c

Reports Q3 revenue $388M, consensus $380.31M. “In the third quarter, despite ongoing production delays from aircraft manufacturers, our Aerospace OEM business generated extraordinarily strong orders in anticipation of a future industry re-ramp. Meanwhile, our Aerospace aftermarket business continues to deliver robust performance on strong top-line growth. With the MB Aerospace integration and synergies progressing ahead of plan, we are delivering on our strategy to scale Aerospace and transform Barnes,” said Thomas Hook, President and CEO of Barnes. “Over the last eighteen months, we have taken numerous actions to unlock the underlying value of Barnes by growing Aerospace, simplifying Industrial, investing in our businesses, and streamlining costs. Collectively, these actions have helped to position us for long-term profitable growth and led to outside interest in Barnes. As such, we are excited about our pending acquisition by Apollo Funds.”