Barnes Group (B) Tops Q1 EPS by 2c

Barnes Group (NYSE: B) reported Q1 EPS of $0.71, $0.02 better than the analyst estimate of $0.69. Revenue for the quarter came in at $376.7 million versus the consensus estimate of $374.04 million.

GUIDANCE:

Barnes Group sees FY2019 EPS of $3.23-$3.35, versus the consensus of $3.27.

Barnes Group continues to expect 2019 total revenue growth of 4% to 6%, with organic sales growth of 1% to 3%.

The Company’s Board of Directors has authorized the repurchase of up to five million shares of Barnes Group common stock. Under this authorization, the Company may, from time to time, repurchase shares in the open market or through privately negotiated transactions depending on market conditions and other relevant factors. This action adds 3.5 million shares to the remaining 1.5 million shares under the 2016 Stock Repurchase Authorization.

For earnings history and earnings-related data on Barnes Group (B) click here.

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