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Barnes Group Inc (B)
NYSE:B
Holding B?
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Earnings Data
Report Date
Feb 14, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.49Last Year’s EPS
$0.41Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2024
|% Change Since: 0.92%
|Next Earnings Date:Feb 14, 2025
Earnings Call Sentiment|Neutral
Overall, the earnings call presented a mix of positive developments and challenges. While the aerospace segment, driven by acquisitions and new agreements, shows strong growth potential, challenges in the OEM supply chain and increased interest expenses present significant hurdles. The industrial segment showed some weakness, impacting the broader outlook.Company Guidance
During the Barnes Q2 2024 earnings call, significant guidance was provided regarding the company's financial and strategic outlook. The company reported a 13% increase in revenue to $382 million, with a 5% organic growth rate. Adjusted EBITDA rose by 14% to $76 million, with a margin increase of 20 basis points. The aerospace sector now accounts for two-thirds of the adjusted EBITDA following the MB Aerospace acquisition, which is expected to generate $18 million in cost synergies by 2025. The company anticipates annualized savings of $38 million by the end of 2024 and $42 million by 2025, driven by its Barnes Transformation Office initiatives. Despite challenges in the aerospace OEM sector, such as supply chain bottlenecks and labor efficiency issues, the aftermarket segment is expected to see robust growth, supported by a backlog of $1.5 billion. For the full year 2024, Barnes projects total sales growth of 10% to 12%, with adjusted EPS expected to range between $1.55 and $1.75. The company maintains a focus on strategic transformation, including continued portfolio optimization and operational efficiency improvements.Strong Aerospace Growth
Aerospace sales were $218 million, an increase of 79% reported and 8% organic. Aftermarket sales increased by 19%. The acquisition of MB Aerospace has significantly scaled the aerospace segment, contributing to 2/3 of the company's adjusted EBITDA.
Operational Achievements
The company has rationalized, closed, or divested facilities, reducing over 500,000 square feet of space, and implemented cost mitigation actions targeting $38 million in savings by the end of 2024 and $42 million by the end of 2025.
Significant Long-Term Agreements
Barnes Aerospace announced a long-term extension of a repair services agreement with RTX Pratt & Whitney Canada. New long-term agreements with General Electric and Rolls-Royce have been reached, with a full-term value of approximately $2 billion.
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B Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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B Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 25, 2024 | $46.70 | $46.90 | +0.43% |
| Jul 26, 2024 | $41.94 | $40.93 | -2.41% |
| Apr 26, 2024 | $35.62 | $34.19 | -4.01% |
| Feb 16, 2024 | $36.08 | $35.90 | -0.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Barnes Group Inc (B) report earnings?
Barnes Group Inc (B) is schdueled to report earning on Feb 14, 2025, TBA Not Confirmed.
What is Barnes Group Inc (B) earnings time?
Barnes Group Inc (B) earnings time is at Feb 14, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is B EPS forecast?
B EPS forecast for the fiscal quarter 2024 (Q4) is $0.49.
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