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Barnes Group Inc. (NYSE: B) maintains its position as a global leader in precision industrial technologies and aerospace solutions. This news hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and strategic initiatives.
Access timely updates spanning earnings announcements, product innovations, and operational milestones. Our curated collection features official press releases alongside market analysis relevant to Barnes Grp's industrial and aerospace segments.
Key coverage areas include manufacturing advancements in transportation systems, aerospace component developments, and strategic partnerships across global markets. The repository serves as a reliable resource for understanding the company's impact on sectors ranging from healthcare infrastructure to defense technologies.
Bookmark this page for streamlined access to Barnes Grp's latest financial disclosures and operational updates. Regularly refreshed content ensures stakeholders maintain current awareness of this engineering leader's market position and technological contributions.
Barnes Group (NYSE: B) reported Q4 2022 sales of $313 million, a 1% increase year-over-year, with organic sales up 5%. Operating margin was 7.7%, and GAAP EPS was $0.30, down from $0.55 a year ago. For the full year 2022, sales reached $1,262 million, slightly up from 2021, with adjusted EPS of $1.98, a 2% increase. The 2023 outlook suggests organic sales growth of 6% to 8% and adjusted EPS between $2.10 and $2.30. The effective tax rate rose to 64.7%, largely due to non-tax-deductible charges. Management emphasizes core business execution to unlock enterprise value.
The Board of Directors of Barnes Group Inc. (NYSE: B) has declared a quarterly cash dividend of $0.16 per share, payable on March 10, 2023, to shareholders of record as of February 23, 2023.
Barnes has consistently paid dividends since 1934, underscoring its commitment to returning value to shareholders. The company specializes in advanced manufacturing and engineering solutions across various industries, enhancing sustainability and automation.
Barnes Group Inc. (NYSE: B) has appointed Neal J. Keating to its Board of Directors, effective February 9, 2023. Keating, who brings extensive experience as a former President and CEO of Kaman Corporation, will also serve on the Corporate Governance Committee. His leadership in the aerospace industry aligns with Barnes Aerospace's growth strategy, which is expected to enhance shareholder value. Chairman Thomas O. Barnes expressed confidence in Keating's contributions to the company’s success.
Zordix AB (publ) announced the launch of Maximum Entertainment, a global entertainment company focusing on developing owned intellectual property alongside external partnerships. The company is acquiring Romanian game studio FUN Labs to enhance its development capabilities. With over 100 games planned, including 15 own IPs, the portfolio targets various gaming genres. A recently secured $30 million credit facility supports this strategic realignment. Upcoming game releases include Maximum Football (free-to-play), Smalland: Survive the Wilds (March 29), and Bramble: The Mountain King (April 27). The goal is to generate 30% of revenue from owned IP by 2025.
On January 30, 2023, BioArctic AB announced that its partner, Eisai, received Priority Review designation from the Japanese Ministry of Health for the marketing application of lecanemab (LEQEMBI™), an antibody for Alzheimer's disease (AD). The application, submitted on January 16, 2023, is based on results from the Phase 3 Clarity AD study, which demonstrated a significant reduction in clinical decline in early AD. Lecanemab has also received accelerated FDA approval in the U.S. for AD treatment. BioArctic is entitled to payments and royalties from lecanemab's sales, having no development costs associated with the drug.
BioArctic AB announced that its partner Eisai received acceptance from the European Medicines Agency (EMA) for a marketing authorization application (MAA) for lecanemab (brand name LEQEMBI) targeting early Alzheimer's disease.
This approval allows BioArctic to receive a milestone payment of MEUR 5. In the U.S., the drug received accelerated approval by the FDA on January 6, 2023, and Eisai is pursuing traditional approval based on positive Phase III results.
BioArctic has no developmental costs for lecanemab and is entitled to royalties on global sales and milestone payments.
On January 25, 2023, BioArctic AB announced the upcoming publication of its fourth quarter report for October-December 2022, set for February 3, 2022, at 08:00 CET. The company will host an audiocast at 09:30 CET the same day, where CEO Gunilla Osswald and CFO Jan Mattsson will present the report and participate in a Q&A session. BioArctic focuses on innovative treatments for neurodegenerative diseases, collaborating with global partners. Their Class B shares trade on Nasdaq Stockholm under the ticker BIOA B. For more details, visit their corporate website.
Hexagon's Manufacturing Intelligence and Sumika Polymer Compounds Europe have partnered to digitise sustainable automotive-grade polypropylene (PP) compounds. This initiative aims to facilitate the design of lighter, recyclable components, resulting in up to a 60% lower carbon footprint compared to traditional plastics. The new GF-PP materials are engineered for the circular economy, addressing plastic waste issues at the end of a vehicle's life. Their advanced multiscale material modelling technology allows for accurate simulations, expediting the adoption of these sustainable materials in automotive manufacturing.
Hexagon's Manufacturing Intelligence division has partnered with Datanomix to integrate the latter's No Operator Input™ production monitoring software. This collaboration aims to enhance efficiency and optimize manufacturing processes for Hexagon's global customers. Datanomix's platform simplifies data collection by connecting directly to manufacturing equipment, providing real-time insights without manual data entry. The partnership will enable Hexagon to offer the Datanomix solution as part of its Production Software portfolio, with training provided to customer-facing teams. This development aligns with Hexagon's goals for autonomous manufacturing, promising improved insights and productivity.
ETQ, a part of Hexagon, has appointed Vick Vaishnavi as its new CEO, succeeding Rob Gremley. Vaishnavi, with over three decades of experience in building high-growth SaaS companies, will lead ETQ during its ongoing global expansion and product innovation. Previously, he was a senior executive at Everbridge, where he grew its Critical Event Management business to over $100M in recurring revenue. Vaishnavi's past leadership roles include CEO of Yottaa and Aveksa, where he successfully drove significant growth and acquisitions. The transition took place on January 17, 2023, with Gremley praising Vaishnavi's capability to lead ETQ into its next growth phase.
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