Barnes Group Inc. - B STOCK NEWS

On January 25, 2023, BioArctic AB announced the upcoming publication of its fourth quarter report for October-December 2022, set for February 3, 2022, at 08:00 CET. The company will host an audiocast at 09:30 CET the same day, where CEO Gunilla Osswald and CFO Jan Mattsson will present the report and participate in a Q&A session. BioArctic focuses on innovative treatments for neurodegenerative diseases, collaborating with global partners. Their Class B shares trade on Nasdaq Stockholm under the ticker BIOA B. For more details, visit their corporate website.

Hexagon's Manufacturing Intelligence and Sumika Polymer Compounds Europe have partnered to digitise sustainable automotive-grade polypropylene (PP) compounds. This initiative aims to facilitate the design of lighter, recyclable components, resulting in up to a 60% lower carbon footprint compared to traditional plastics. The new GF-PP materials are engineered for the circular economy, addressing plastic waste issues at the end of a vehicle's life. Their advanced multiscale material modelling technology allows for accurate simulations, expediting the adoption of these sustainable materials in automotive manufacturing.

Hexagon's Manufacturing Intelligence division has partnered with Datanomix to integrate the latter's No Operator Input™ production monitoring software. This collaboration aims to enhance efficiency and optimize manufacturing processes for Hexagon's global customers. Datanomix's platform simplifies data collection by connecting directly to manufacturing equipment, providing real-time insights without manual data entry. The partnership will enable Hexagon to offer the Datanomix solution as part of its Production Software portfolio, with training provided to customer-facing teams. This development aligns with Hexagon's goals for autonomous manufacturing, promising improved insights and productivity.

ETQ, a part of Hexagon, has appointed Vick Vaishnavi as its new CEO, succeeding Rob Gremley. Vaishnavi, with over three decades of experience in building high-growth SaaS companies, will lead ETQ during its ongoing global expansion and product innovation. Previously, he was a senior executive at Everbridge, where he grew its Critical Event Management business to over $100M in recurring revenue. Vaishnavi's past leadership roles include CEO of Yottaa and Aveksa, where he successfully drove significant growth and acquisitions. The transition took place on January 17, 2023, with Gremley praising Vaishnavi's capability to lead ETQ into its next growth phase.

On January 16, 2023, BioArctic AB announced that its partner, Eisai, has submitted a marketing authorization application for lecanemab (brand name: LEQEMBI™) for early Alzheimer's disease treatment in Japan. The application follows Phase 3 Clarity AD study results, showing significant clinical decline reduction. BioArctic is entitled to a milestone payment of MEUR 5 upon acceptance by the PMDA. The FDA granted accelerated approval for lecanemab on January 6, 2023, with a supplemental application for full approval submitted on the same date. Eisai manages global development, while BioArctic prepares for commercialization in the Nordics.

Barnes Group Inc. (NYSE: B) will announce its fourth quarter and full year 2022 financial results on February 17, 2023, before market opens. A conference call will follow at 8:30 a.m. ET to discuss the results and outlook, accessible via the company’s website or by phone. Playback will be available from 12:00 p.m. ET on the same day until February 24, 2023. The company specializes in advanced manufacturing technologies across various industries, enhancing service and sustainability.

Edwards, a leader in vacuum products for the semiconductor sector, is expanding its footprint in the U.S. with a new manufacturing facility in Western New York’s Science and Technology Advanced Manufacturing Park. The initial phase involves a $127 million investment for a 240,000 sq. ft. plant, expected to total $319 million over seven years and create around 600 jobs. This facility aims to support growing semiconductor demand, ensuring supply chain stability, and will operate on 100% renewable energy. The initiative aligns with LEED certification, promoting sustainability.

Barnes Group Inc. (NYSE: B) reported third quarter 2022 net sales of $315 million, a 3% decrease year-over-year, with organic sales increasing by 2%. The operating margin was 9.5%, and adjusted EPS was $0.49, down 11% from $0.55 the previous year. The company forecasts 2022 organic sales growth of 5% to 6% and anticipates adjusted EPS between $1.90 and $2.00, reflecting a modest decline from 2021. The restructuring efforts aim to improve Industrial segment performance, which faced challenges due to economic pressures.

The latest The Civil Quarterly report from Dodge Construction Network highlights a decline in revenue and profit margin expectations among contractors, with only 53% anticipating revenue growth compared to 66% last quarter. Additionally, 45% expect profit margin increases, down from 51%. A significant 60% of contractors foresee economic downturn impacts on private projects. Supply chain issues persist, with 93% affected by material cost fluctuations. Despite reduced expectations, contractors remain optimistic, with 77% confident about future workloads.