Tue, Oct 29, 6:59 PM (65 days ago)
**Barnes Group Inc. (B) Q3 2024 Summary** For Q3 2024, Barnes Group Inc. reported net sales of $387.8 million, a 7.4% increase from Q3 2023, driven by a 9.0% rise in Aerospace sales, bolstered by the acquisition of MB Aerospace, which contributed $61.1 million. However, the Industrial segment saw a decline of 23.9% due to the divestiture of the Associated Spring™ and Hänggi™ businesses, reducing sales by $51.8 million. Operating income surged to $41.8 million (10.8% margin) from $10.0 million (2.8% margin) in the prior year, reflecting lower restructuring costs and the absence of prior acquisition-related expenses. Despite a goodwill impairment charge of $53.7 million in the nine-month period, the company maintained a focus on cost management and operational integration. Cash flow from operating activities was $49.8 million. The company ended the period with $80.7 million in cash and a robust liquidity position, supported by a $1.0 billion revolving credit facility. The announced merger with Goat Holdco, LLC, valued at $47.50 per share, is expected to close by Q1 2025, pending regulatory approvals. Overall, while facing challenges in the Industrial segment, the company shows resilience through strategic acquisitions and cost management.