Barnes Group Q3 Earnings: Aerospace Sales Jump 49%, Suspends Guidance Due To Buyout By Apollo
Barnes Group Q3 Earnings: Aerospace Sales Jump 49%, Suspends Guidance Due To Buyout By Apollo
Aerospace OEM backlog ended the third quarter at $1.80 billion, up 19% sequentially.Barnes Group, Inc. (NYSE:B) reported a third-quarter FY24 sales increase of 7% year-over-year to $388 million (organic sales: +4%), beating the consensus of $380.3 million.
Barnes Group, Inc.（紐交所：B）報告，截至FY24第三季度銷售額同比增長7%，達到38800萬美元（有機銷售：+4%），超過了38030萬美元的共識。
The net impact of acquisition and divestiture-related sales contributed about 3% to revenue, while foreign exchange fluctuations added approximately 1%.
收購和剝離相關銷售的淨影響爲營業收入貢獻了約3%，而匯率波動增加了約1%。
In Aerospace segment, sales surged 49% to $232 million. Original equipment manufacturing (OEM) sales rose by 38%, and aftermarket sales surged by 67%.
在航空航天板塊，銷售額激增了49%，達到23200萬美元。原始設備製造（OEM）銷售上漲38%，售後銷售激增67%。
Aerospace OEM backlog ended the third quarter at $1.80 billion, up 19% sequentially.
航空航天OEm積壓訂單在第三季度末達到18億美元，較上一季度增長19%。
In the Industrial segment, sales stood at $156 million, down 24% due to the sale of the Associated Spring and Hänggi businesses.
在工業板塊，銷售額爲15600萬美元，因出售Associated Spring和Hänggi業務而下降24%。
Total adjusted operating income rose 23% to $47.9 million, with adjusted operating margin increasing 150 bps to 12.3%.
總調整後營業收入增長23%，達到4790萬美元，調整後營業利潤率提高150個點子，達到12.3%。
Adjusted EBITDA increased 16% to $76.9 million, with an adjusted EBITDA margin of 19.8%, up 140 bps from a year ago.
調整後EBITDA增長16%，達到7690萬美元，調整後EBITDA利潤率爲19.8%，比一年前增加了140個點子。
Adjusted EPS of $0.09 missed the consensus of $0.39.
調整後每股收益爲0.09美元，低於0.39美元的共識。
Year-to-date, operating cash flow stood at $49.8 million and free cash flow (adjusted for the tax payments related to the divestiture) came in at $20.4 million.
截至今年，營業現金流達到4980萬美元，自由現金流（調整後考慮與出售相關的稅款）爲2040萬美元。
Thomas J. Hook, President and Chief Executive Officer, said, "In the third quarter, despite ongoing production delays from aircraft manufacturers, our Aerospace OEM business generated extraordinarily strong orders in anticipation of a future industry re-ramp. Meanwhile, our Aerospace aftermarket business continues to deliver robust performance on strong top-line growth."
托馬斯·J·胡克，總裁兼首席執行官，表示：「在第三季度，儘管飛機制造商持續生產延遲，我們的航空航天原始設備製造商業務基於對未來行業復甦的預期，產生了非同尋常強勁的訂單。同時，我們的航空航天售後市場業務在強勁的收入增長基礎上繼續表現出色。」
"With the MB Aerospace integration and synergies progressing ahead of plan, we are delivering on our strategy to scale Aerospace and transform Barnes."
「隨着Mb航空航天業務整合和協同效應超前計劃進行，我們正在執行擴展航空航天業務和改造巴恩斯的策略。」
This month, Barnes inked a deal to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE:APO) in an all-cash transaction valued at around $3.6 billion.
本月，巴恩斯公司與阿波羅全球管理公司（NYSE：APO）附屬基金達成協議，進行全現金交易，交易價值約36億美元。
The agreement stipulates that Barnes shareholders will receive $47.50 per share in cash, representing a premium of about 22% over the undisturbed closing share price on June 25, 2024.
協議規定，巴恩斯股東將以每股47.50美元的價格收到現金，相當於2024年6月25日未受干擾的收盤股價的溢價約22%。
Given the pending acquisition, the company will not hold a conference call or webcast for the quarter and is also suspending its full-year 2024 financial guidance.
鑑於即將被收購，該公司不會就本季度召開電話會議或網絡研討會，同時暫停其全年2024年財務預測。
Price Action: B shares closed higher by 0.06% at $46.70 on Thursday.
股票走勢：b股週四收漲0.06%，報46.70美元。
Photo: Courtesy of Pasuwan via Shutterstock
圖片：由Shutterstock的Pasuwan提供
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譯文內容由第三人軟體翻譯。
