While reporting financial for the second quarter, Barnes Group, Inc. (B), a provider of highly engineered products, on Friday lowered its adjusted earnings and revenue growth guidance for the full-year 2019.
For fiscal 2019, the company trimmed its adjusted earnings guidance to a range of $3.18 to $3.28 per share from the prior forecast range of $3.23 to $3.35 per share.
The company also now projects full year total revenue growth of 3 to 4 percent, with organic sales about flat to up 1 percent, down from the previous guidance range of 4 to 6 percent, with organic sales growth of 1 to 3 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.24 per share on revenue growth of 4.5 percent to $1.56 billion for the year. Analysts' estimates typically exclude special items.
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