Barnes Group (NYS: B) reported earnings on April 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Barnes Group whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share shrank. GAAP earnings per share dropped significantly.
Margins dropped across the board.
Barnes Group reported revenue of $263.5 million. The four analysts polled by S&P Capital IQ hoped for net sales of $313.2 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $303.1 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 $0.40. The five earnings estimates compiled by S&P Capital IQ anticipated $0.44 per share. Non-GAAP EPS of $0.40 for Q1 were 2.4% lower than the prior-year quarter's $0.41 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.) GAAP EPS of $0.24 for Q1 were 40% lower than the prior-year quarter's $0.40 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 32.6%, 80 basis points worse than the prior-year quarter. Operating margin was 9.5%, 140 basis points worse than the prior-year quarter. Net margin was 5.1%, 220 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $313.5 million. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $1.26 billion. The average EPS estimate is $1.94.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 441 members out of 477 rating the stock outperform, and 36 members rating it underperform. Among 117 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 110 give Barnes Group a green thumbs-up, and seven 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 $32.83.
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The article Barnes Group Whiffs on Revenues originally appeared on Fool.com.
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