Barnes Updates 2024 Guidance: Now Expects Sales Growth Of 10%-12% (Prior 13%-16%); Sees Adjusted EPS Of $1.55-$1.75 (Prior $1.62-$1.82) Vs. $1.72 Est
Portfolio Pulse from Benzinga Newsdesk
Barnes Group Inc. has updated its 2024 guidance, now expecting sales growth of 10%-12% (previously 13%-16%) and adjusted EPS of $1.55-$1.75 (previously $1.62-$1.82) versus an estimate of $1.72. The company also provided detailed guidance on organic sales growth, operating margin, EBITDA margin, capital expenditures, free cash flow, and effective tax rate.
July 26, 2024 | 10:35 am
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Barnes Group Inc. has revised its 2024 guidance, lowering its sales growth and adjusted EPS expectations. This could lead to a short-term negative impact on the stock price as the new guidance is below previous estimates and market expectations.
The revised guidance indicates lower sales growth and adjusted EPS compared to previous estimates and market expectations. This is likely to be perceived negatively by investors, leading to a short-term decline in the stock price.
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