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Barnes Group: Q1 Earnings Snapshot

Associated Press Finance
·1-min read

BRISTOL, Conn. (AP) — BRISTOL, Conn. (AP) — Barnes Group Inc. (B) on Friday reported first-quarter earnings of $1.9 million.

The Bristol, Connecticut-based company said it had net income of 4 cents per share. Earnings, adjusted for non-recurring costs, came to 38 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The aerospace and industrial parts supplier posted revenue of $430.6 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $425.3 million.

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Barnes Group expects full-year earnings in the range of $1.62 to $1.82 per share.

Barnes Group shares have risen 10% since the beginning of the year. The stock has dropped slightly more than 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on B at https://www.zacks.com/ap/B