Barnes Group Inc. Hosts Inaugural Investor Day
September 07 2017 - 6:45AM
Business Wire
- Barnes Group Outlines Strategy to
Drive Global Profitable Growth and Margin Expansion
- Introduces 2020 Financial Targets
and Reaffirms Full-Year 2017 Outlook
Barnes Group Inc. (NYSE: B), which is celebrating its
160th anniversary this year, will hold its inaugural investor day
today in New York City with presentations given by Patrick Dempsey,
President and Chief Executive Officer, Christopher Stephens, Senior
Vice President, Finance and Chief Financial Officer, and other
senior executives. Management will present its growth strategy and
capital allocation framework, as well as provide an in-depth review
of its Industrial and Aerospace segments. In addition, the Company
is introducing 2020 financial targets and reaffirming its 2017
Outlook.
“We are excited to host Barnes Group’s inaugural investor day to
provide the investor community with a deeper understanding of and
appreciation for our Company and the major transformation we have
been undergoing,” said Patrick Dempsey, President and Chief
Executive Officer. “We have dramatically enhanced our portfolio as
we continue to execute our profitable growth strategy, and with the
Barnes Enterprise System as the framework to drive performance, our
profitability has dramatically improved,” added Dempsey.
Introduces 2020 Financial Targets
Barnes Group is introducing 2020 financial targets,
specifically:
- Organic Sales: 4% to 6% CAGR
- Operating Margin: 18% to 19%
- EPS: Double-digit CAGR(1)
The Company will detail the key initiatives supporting
achievement of these goals as well as assumptions at its investor
day.
“We are pleased with the progress made on positioning Barnes
Group for continued success. As we move forward, our businesses are
aligned with favorable end markets, we’re expanding the global
reach of our high-quality brands, and we have a flexible balance
sheet with strong cash generation that will continue to support
high-impact investments. This, coupled with our passionate and
dedicated employees, should enable us to achieve our 2020 financial
objectives,” added Dempsey.
Reaffirms 2017 Outlook
The Company is also reaffirming its 2017 Outlook,
specifically:
- Total Revenue: Up 14% to 15% over the
prior year period
- Organic Revenue: Up 9% to 10%(2)
- Adjusted Operating Margin: 15.5% to
16.0%
- EPS from Continuing Operations: $2.77
to $2.87, including a 0.12 tax benefit
- Adjusted EPS: $2.80 to $2.90, up 11% to
15% year-over-year, excluding $0.03 of acquisition-related
short-term purchase accounting adjustments related to the 2016
FOBOHA transaction
Event Webcast Details
The presentation, which includes question and answer sessions,
will begin at 8:30 a.m. (ET) and is expected to conclude at
approximately 12:00 p.m. The public may access the event through a
live webcast available on the Investor Relations section of Barnes
Group’s website at www.BGInc.com. The conference will also be
available by dialing the following numbers: (877) 201-0168 in the
U.S. or (647) 788-4901 for international participants; Conference
ID 30373513. Presentation materials will be posted to the Investor
Relations section of the Company's website today at approximately
8:00 a.m. (ET). A replay of the webcast will be available following
the presentation at the same link listed above until August 31,
2018.
Note:
(1) 2017 base year adjusted earnings excludes the discrete tax
benefit of $0.12 recorded in the second quarter.(2) Organic sales
growth represents the total reported sales increase within the
Company’s ongoing businesses less the impact of foreign currency
translation and acquisition and divestitures completed in the
preceding twelve months.
About Barnes Group
Barnes Group Inc. (NYSE: B) is a global provider of highly
engineered products, differentiated industrial technologies, and
innovative solutions, serving a wide range of end markets and
customers. Its specialized products and services are used in
far-reaching applications including aerospace, transportation,
manufacturing, healthcare, and packaging. Barnes Group’s skilled
and dedicated employees around the globe are committed to the
highest performance standards and achieving consistent, sustainable
profitable growth. For more information, visit www.BGInc.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements often address our expected future
operating and financial performance and financial condition, and
often contain words such as "anticipate," "believe," "expect,"
"plan," "estimate," "project," and similar terms. These
forward-looking statements do not constitute guarantees of future
performance and are subject to a variety of risks and uncertainties
that may cause actual results to differ materially from those
expressed in the forward-looking statements. These include, among
others: difficulty maintaining relationships with employees,
including unionized employees, customers, distributors, suppliers,
business partners or governmental entities; failure to successfully
negotiate collective bargaining agreements or potential strikes,
work stoppages or other similar events; difficulties leveraging
market opportunities; changes in market demand for our products and
services; rapid technological and market change; the ability to
protect intellectual property rights; introduction or development
of new products or transfer of work; higher risks in global
operations and markets; the impact of intense competition; acts of
terrorism, cybersecurity attacks or intrusions that could adversely
impact our businesses; uncertainties relating to conditions in
financial markets; currency fluctuations and foreign currency
exposure; future financial performance of the industries or
customers that we serve; our dependence upon revenues and earnings
from a small number of significant customers; a major loss of
customers; inability to realize expected sales or profits from
existing backlog due to a range of factors, including changes in
customer sourcing decisions, material changes, production schedules
and volumes of specific programs; the impact of government budget
and funding decisions; changes in raw material or product prices
and availability; integration of acquired businesses; restructuring
costs or savings; the continuing impact of prior acquisitions and
divestitures; and any other future strategic actions, including
acquisitions, divestitures, restructurings, or strategic business
realignments, and our ability to achieve the financial and
operational targets set in connection with any such actions; the
outcome of pending and future legal, governmental, or regulatory
proceedings and contingencies and uninsured claims; future
repurchases of common stock; future levels of indebtedness; and
numerous other matters of a global, regional or national scale,
including those of a political, economic, business, competitive,
environmental, regulatory and public health nature; and other risks
and uncertainties described in documents filed with or furnished to
the Securities and Exchange Commission by the Company, including,
among others, those in the Management's Discussion and Analysis of
Financial Condition and Results of Operations and Risk Factors
sections of the Company's filings. The Company assumes no
obligation to update its forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170907005018/en/
Barnes Group Inc.William PittsDirector, Investor
Relations860.583.7070
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