Barnes Group Down 29.85% To $21.03 After Earnings

Barnes Group Inc (B) missed earnings projections on 10/27/2023 for Q3 2023.



Revenues were downbeat at $0.00. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is down 29.85% to $21.03 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Barnes Group a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 43. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Barnes Group Inc is a U.S. based industrial and aerospace manufacturer and service provider. The company operates through two segments: Industrial and Aerospace. The industrial segment manufactures precision parts, products, and systems for critical applications in end markets including transportation, industrial equipment, and consumer products. The aerospace segment provides machined components and assemblies for original equipment manufacturer turbine engine, airframe and industrial gas turbine builders, and the military. This segment also provides aftermarket maintenance, overhaul and repair services for turbine engine manufacturers, airlines, and the military. The company generates around half of its revenue from the domestic American market.