Barnes Group reports Q3 adjusted EPS 19c, consensus 48c

Reports Q3 revenue $361M, consensus $356.5M. “As we work to transform the Barnes portfolio, a significant amount of progress was made in Q3. We successfully recapitalized the business and closed on the MB Aerospace acquisition earlier than originally anticipated, accelerating the integration of operations, and realization of forecasted synergies. The combined entity has been well-received by our customers, and we look forward to delivering solid, profitable growth,” said CEO Thomas Hook. “Momentum behind industrial restructuring continues with facility closures tracking to plan and a new cost rationalization activity implemented. That said, we remain unsatisfied with Industrial results and are engaged in multiple activities to deliver improved operational and financial performance. Executing our strategic priorities, which begins with fundamental core business execution, remains the primary focus across the company”.