Barnes Q2: Topline Miss, Maintained 2023 EPS Forecast & More
Portfolio Pulse from Akanksha Bakshi
Barnes Group Inc reported Q2 FY23 sales growth of 5.5% YoY at $338.98 million, missing the consensus of $339.166 million. Adjusted EPS of $0.58 beat the consensus of $0.54. The company's operating cash flow for six months ended June 30, 2023, totaled $42.5 million. Industrial segment sales increased by 2% YoY and Aerospace segment sales increased by 12% YoY. The company boosted its organic sales growth forecast to 7%-9% and continues to expect adjusted EPS of $2.15-$2.30.
July 28, 2023 | 4:08 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Barnes Group's Q2 FY23 sales missed consensus, but adjusted EPS beat expectations. The company boosted its organic sales growth forecast and maintained its adjusted EPS outlook. However, the stock traded lower by 5.67%.
Barnes Group's Q2 sales missed consensus, which could have led to negative sentiment among investors, causing the stock to trade lower. However, the company's EPS beat expectations and it boosted its organic sales growth forecast, which could potentially offset some of the negative sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100