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BRISTOL, Conn. (AP) — BRISTOL, Conn. (AP) — Barnes Group Inc. (B) on Thursday reported first-quarter net income of $13.2 million.
On a per-share basis, the Bristol, Connecticut-based company said it had net income of 26 cents. Earnings, adjusted for restructuring costs, were 47 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The aerospace and industrial parts supplier posted revenue of $335.4 million in the period.
Barnes Group expects full-year earnings in the range of $2.15 to $2.30 per share.
Barnes Group shares have decreased almost 8% since the beginning of the year. The stock has risen nearly 5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a B">Zacks stock report on B at https://www.zacks.com/ap/B