The 10-second takeaway
For the quarter ended June 30 (Q2), Barnes Group met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share grew. GAAP earnings per share grew significantly.
Gross margins shrank, operating margins expanded, net margins expanded.
Barnes Group reported revenue of $267.4 million. The five analysts polled by S&P Capital IQ hoped for sales of $270.2 million on the same basis. GAAP reported sales were 8.9% lower than the prior-year quarter's $293.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.47. The six earnings estimates compiled by S&P Capital IQ averaged $0.47 per share. Non-GAAP EPS of $0.47 for Q2 were 4.4% higher than the prior-year quarter's $0.45 per share. GAAP EPS of $3.82 for Q2 were much higher than the prior-year quarter's $0.45 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 33.7%, 50 basis points worse than the prior-year quarter. Operating margin was 13.5%, 190 basis points better than the prior-year quarter. Net margin was 78.3%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $279.9 million. On the bottom line, the average EPS estimate is $0.52.
Next year's average estimate for revenue is $1.09 billion. The average EPS estimate is $1.91.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 443 members out of 479 rating the stock outperform, and 36 members rating it underperform. Among 122 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 116 give Barnes Group a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Barnes Group is outperform, with an average price target of $32.20.
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