47.28
price up icon0.06%   0.03
after-market Handel nachbörslich: 47.28
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Warum fällt Barnes Group Inc-Aktie (B)?

2023-10-27:

Shares of Barnes Group, Inc (B) dropped by 32.82% from $29.98 to $20.14 in the trading on Friday, October 27, 2023. The reason why B stock down is due to the company's downbeat thirs-quarter earnings and lowered FY2023 outlook.

  • In the third quarter, the company reported a net sales increase of 15% to $361 million, with organic sales up 4%. However, operating income dropped significantly to $10.0 million, and an adjusted operating margin of 10.8% was down 160 bps. The company attributed these declines to restructuring costs and acquisition-related expenses.
  • In terms of segments, aerospace sales surged 41%, while industrial sales remained nearly flat. Aerospace operating profit decreased, while the industrial segment saw a 14% drop in adjusted operating profit.
  • Looking ahead, Barnes Group expects organic sales growth of 5% to 6% for 2023 and an adjusted operating margin between 11% and 12%. Adjusted earnings per share are forecasted to be in the range of $1.57 to $1.67, but this outlook is lower due to impacts from the MB Aerospace acquisition and a softer industrial sector. The company anticipates expenses related to restructuring, acquisition costs, and purchase accounting adjustments in its adjusted earnings.
specialty_industrial_machinery XYL
$115.42
price down icon 0.19%
specialty_industrial_machinery ROK
$276.98
price up icon 0.53%
specialty_industrial_machinery IR
$89.40
price up icon 1.38%
$91.78
price up icon 0.68%
specialty_industrial_machinery AME
$179.15
price up icon 1.50%
specialty_industrial_machinery CMI
$364.25
price up icon 0.88%
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