Barnes Group Inc. (B) reported fourth quarter adjusted net income per share of $0.36, down 58% from $0.86, a year ago. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.33, for the quarter. Analysts' estimates typically exclude special items.
Fourth quarter net sales were $289 million, down 22% from $370 million prior year, with organic sales declining 21% primarily driven by the ongoing impacts of the global pandemic on the company's end markets. Analysts expected revenue of $282.78 million, for the quarter.
Barnes Group expects 2021 organic sales to be up 6% to 8%. Adjusted earnings per share are expected to be in the range of $1.65 to $1.90.
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