Barnes Group Q3 Earnings: Aerospace Sales Jump 49%, Suspends Guidance Due To Buyout By Apollo

Barnes Group, Inc. (NYSE:B) reported a third-quarter FY24 sales increase of 7% year-over-year to $388 million (organic sales: +4%), beating the consensus of $380.3 million.

The net impact of acquisition and divestiture-related sales contributed about 3% to revenue, while foreign exchange fluctuations added approximately 1%.

In Aerospace segment, sales surged 49% to $232 million. Original equipment manufacturing (OEM) sales rose by 38%, and aftermarket sales surged by 67%.

Aerospace OEM backlog ended the third quarter at $1.80 billion, up 19% sequentially.

In the Industrial segment, sales stood at $156 million, down 24% due to the sale of the Associated Spring and Hänggi businesses. 

Total adjusted operating income rose 23% to $47.9 million, with adjusted ...