(RTTNews) - Barnes Group Inc. (B) reported third quarter earnings per share of $0.30, compared to $0.89, a year ago. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.28, for the quarter. Analysts' estimates typically exclude special items.
Third quarter net sales were $269 million, a decline of 28% from $373 million, prior year, with organic sales down 26% primarily driven by the impact of the global pandemic. Analysts expected revenue of $245.62 million, for the quarter.
For the fourth quarter, Barnes Group projects adjusted earnings per share to be in the range of $0.27 to $0.35. The company's current view is for organic sales to be lower than last year's fourth quarter by approximately 20%. Analysts expect the company to report profit per share of $0.34.
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