Barnes Group Inc. - B STOCK NEWS

Ouster (NYSE: OUST) and Tacticaware, a Hexagon (Nasdaq Stockholm: HEXA B) company, announced the launch of Ouster x Accur8vision, a joint security solution targeting the multibillion physical security market. This solution integrates Ouster's 3D digital lidar technology with Hexagon's security software to enhance monitoring capabilities across diverse environments, including airports and commercial properties. The new system aims to reduce false alarms and improve security accuracy, positioning Ouster to capitalize on a market projected to reach $153 billion by 2023.

Barnes Group Inc. (NYSE: B) will release its first quarter 2022 financial results on April 29, 2022, before market opening. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the results and future outlook. The public can access the call via a live audio webcast on the company's Investor Relations website or by phone. The recorded call will be available for playback from 12:00 p.m. ET on April 29 until May 6, 2022. More information is available on their official website.

Barnes Group Inc. (NYSE: B) announces that President and CEO Patrick J. Dempsey is taking a temporary leave of absence starting March 8, 2022, to address health matters within his family. During this period, Julie K. Streich, Senior VP and CFO, will serve as Interim CEO while maintaining her current responsibilities. The Board of Directors expresses full support for Dempsey's decision, assuring stakeholders of the leadership team's capability to manage the company's strategic operations effectively.

Edwards, a leader in semiconductor supply, is investing in a new 200,000-square-foot manufacturing facility in Chandler, Arizona. This facility will utilize advanced technologies to support the growing semiconductor market, creating approximately 200 jobs locally. With construction underway, the site will begin operations in Q3, focusing on the remanufacturing and assembly of vacuum pump equipment essential for semiconductor fabrication. This investment underlines Edwards' commitment to sustainable practices and enhancing supply chain capacity in North America.

Barnes Group Inc. (NYSE: B) reported strong financial growth for Q4 and the full year of 2021. Q4 sales reached $311 million, an 8% increase year-over-year, with organic sales up 9%. Adjusted EPS for Q4 was $0.55, up 53%. For the full year, sales totaled $1,259 million, a 12% rise, with adjusted EPS of $1.94, up 18%. The company anticipates organic sales growth of 8-10% for 2022 and adjusted EPS ranging from $2.20 to $2.45. Despite challenges in supply chains and inflation, Barnes' aerospace segment showed strong recovery, driving profitability.

Barnes Group Inc. (NYSE: B) has declared a quarterly cash dividend of $0.16 per share, payable on March 10, 2022, to shareholders who are on record as of February 24, 2022. The company has maintained uninterrupted dividend payments since 1934, showcasing its commitment to returning value to shareholders. This dividend declaration reflects the company’s stability and financial health in delivering continuous income to its investors.

Civil contractors are optimistic about the construction economy in 2022, with 73% confident in finding work. Around 50% expect revenue and profit margins to increase. However, a skilled worker shortage is a significant concern; 72% anticipate difficulties hiring skilled labor, and 89% expect labor costs to rise. 54% report scheduling issues, and 53% struggle with budget constraints due to rising labor costs. The Infrastructure Investment and Jobs Act may exacerbate these challenges.

Barnes Group (NYSE: B) will release its fourth quarter and full year 2021 financial results on February 18, 2022, before market open. A conference call to discuss these results and the company's outlook will follow at 8:30 a.m. ET. Investors can access the call via a live audio webcast on the company's website or by direct dial. A playback of the call will be available from 12:00 p.m. ET on February 18 until 11:59 p.m. ET on February 25. For more details, visit www.BGInc.com.

Barnes Group Inc. (NYSE: B) held a virtual investor day to present its growth strategy, capital allocation framework, and segment reviews. CEO Patrick Dempsey outlined the company’s 2025 financial targets, aiming for organic sales growth of 7%-9% CAGR, adjusted operating margins of 15%-17%, and double-digit CAGR in adjusted EPS. The updated 2021 outlook predicts a 12% revenue increase, with organic sales growth at 10%. However, adjusted operating margin forecasts were reduced to 12% due to supply chain challenges, despite a beneficial foreign tax rate adjustment.