Barnes Group Inc. - B STOCK NEWS

Barnes Group Inc. (NYSE: B) announced the extension of its long-term agreement with ITP Aero, a Rolls-Royce company, through 2025. This contract includes the manufacturing of components for the Trent XWB engine program. Barnes Aerospace will utilize its advanced metal forming and fabrication technologies. Senior VP Mike Beck highlighted the significance of this partnership, which underscores their strong relationship with ITP Aero and Rolls-Royce. The agreement showcases Barnes Aerospace's commitment to delivering high-quality components and maintaining a competitive edge in the aerospace sector.

The Board of Directors of Barnes Group (NYSE: B) has declared a quarterly cash dividend of $0.16 per share, payable on December 10, 2021, to shareholders of record on November 23, 2021. This marks a continuation of dividend payments since 1934. Barnes Group is a global provider of engineered products and technologies for various sectors including aerospace and healthcare, emphasizing sustainable growth and corporate accountability, as recognized by its listing in Newsweek's America's Most Responsible Companies.

The latest issue of The Civil Quarterly from Dodge Data & Analytics highlights significant supply chain challenges for civil contractors, with 92% reporting project impacts due to construction material cost fluctuations. Despite concerns about rising costs, 53% anticipate revenue growth, and 63% expect stable or improved profit margins over the next year. The report also discusses cybersecurity risks, with small contractors underestimating potential cyber threats, and the usage of reality capture tools, which enhance project management and quality improvements.

Hexagon’s Manufacturing Intelligence division has partnered with ETQ to enhance product quality assurance throughout the manufacturing lifecycle. This collaboration will utilize machine learning and artificial intelligence to automate quality control processes, linking Hexagon’s inspection solutions with ETQ’s QMS. The integration aims to minimize defects and enhance efficiency, thereby supporting smart manufacturing strategies. Hexagon reported net sales of approximately 3.8bn EUR and employs around 20,000 people globally.

Barnes Group Inc. (NYSE: B) announced a virtual investor day on December 14, 2021, at 8:30 a.m. (ET). Key executives, including President Patrick Dempsey and CFO Julie Streich, will discuss long-term growth strategies and financial outlook, concluding around 12:00 p.m. (ET). A live webcast will be available on the Company’s Investor Relations webpage, with presentation materials posted prior to the event.

Barnes Group Inc. (NYSE: B) will release its third quarter 2021 financial results on October 29, 2021, before market opening. A conference call to discuss the results and outlook is scheduled for 8:30 a.m. ET on the same day, accessible via live audio webcast and phone. The call will be recorded for playback from 12:00 p.m. ET on October 29 until 11:59 p.m. ET on November 5. The company is recognized for its commitment to corporate accountability and innovation across various industries.

Barnes Group reported a strong second quarter for 2021, with net sales of $321 million, up 36% year-over-year. This growth was driven by a 31% increase in organic sales and 5% from favorable foreign exchange. Operating income grew to $38.5 million from $10.1 million a year prior, with a margin of 12%. Net income reached $24.5 million or $0.48 per share, compared to $0.01 in the same period last year. The company adjusted 2021 sales growth expectations upward to 11%-12%.

The Board of Directors of Barnes Group has announced a quarterly cash dividend of $0.16 per share, scheduled for payment on September 10, 2021. Shareholders must be on record by the close of business on August 26, 2021. This marks a continuous dividend payout since 1934, reflecting the company's commitment to returning value to its shareholders.

Barnes Group Inc. (NYSE: B) has appointed Jakki L. Haussler to its Board of Directors, effective July 15, 2021. She will be up for election at the 2022 Annual Meeting of Stockholders and will serve on the Compensation and Management Development Committee. Chairman Thomas O. Barnes expressed confidence in her extensive experience in public accounting and investment banking to enhance the company's growth strategy. Haussler co-founded Opus Capital Management and has held various leadership roles in other organizations, including Cincinnati Bell Inc.