Barnes Group Inc. / 1


barneslogoq22014a04a01a01a39.jpg
 
 
 
Exhibit 99.1



Barnes Group Inc.
123 Main Street
Bristol, CT 06010
NEWS RELEASE

BARNES GROUP INC. REPORTS
FOURTH QUARTER AND FULL YEAR 2018
FINANCIAL RESULTS

Fourth Quarter 2018:
Record Quarterly Sales of $384 million, up 3% from last year; Organic Sales up 2%
Operating Margin of 13.6%; Adjusted Operating Margin of 15.3%, up 140 bps
GAAP EPS of $0.75; Adjusted EPS of $0.84, up 18% versus prior year period
Full Year 2018:
Record Full Year Sales of $1,496 million, up 4% from 2017; Organic Sales up 2%
Record Operating Income of $231.8 million; Adjusted Operating Income of $239.7 million, up 11%
Operating Margin of 15.5%; Adjusted Operating Margin of 16.0%, up 90 bps
GAAP EPS of $3.15; Adjusted EPS of $3.22, up 12% from 2017
2019 Outlook:
2019 Expected Sales Growth of 4% to 6%; Organic Sales Growth of 1% to 3%
2019 Adjusted Net Income of $3.25 to $3.40 per Share; Up 1% to 6% from 2018 Adjusted Net Income of $3.22 per Share

BRISTOL, Conn., February 22, 2019
- Barnes Group Inc. (NYSE: B), a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, today reported financial results for the fourth quarter and full year 2018.
“For 2018, Barnes Group delivered record revenues and operating profit, improved operating margins, and grew net income. Record orders, driven by the strength of our Aerospace business, allow us to exit the year with near all-time high backlogs, providing solid momentum as we move into the new year. Although we see a greater level of economic uncertainty in certain Industrial end markets in early 2019, we anticipate the upcoming year to demonstrate further revenue and earnings growth,” said Patrick J. Dempsey, President and Chief Executive Officer of Barnes Group Inc. “

“In addition, we expect 2019 to realize the benefits of our ongoing portfolio transformation, including the recent entry into industrial automation, and further advances in productivity driven by the Barnes Enterprise System,” added Dempsey.

Fourth quarter 2018 net sales of $384 million were up 3% from $373 million in the prior year period driven by organic sales growth (1) of 2% and acquisition sales of 3%. Foreign exchange negatively impacted sales by 2%. Net income for the fourth quarter was $38.8 million, or $0.75 per diluted share,


The following information was filed by Barnes Group Inc (B) on Friday, February 22, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Barnes Group Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Barnes Group Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

FREE Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account