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Barnes Updates 2024 Guidance: Now Expects Sales Growth Of 10%-12% (Prior 13%-16%); Sees Adjusted EPS Of $1.55-$1.75 (Prior $1.62-$1.82) Vs. $1.72 Est

Author: Benzinga Newsdesk | July 26, 2024 06:35am

Updated 2024 Full Year Outlook

The Company is updating its full year 2024 guidance to the following:

 

 

2024 Guidance

Organic sales growth

 

4% to 6%

Adjusted operating margin

 

12% to 14%

Adjusted EBITDA margin

 

20% to 22%

Adjusted earnings per share

 

$1.55 to $1.75

Capital expenditures

 

$55 million to $65 million

Free cash flow

 

$45 million to $55 million

Adjusted effective tax rate

 

33% to 34%

The Company's 2024 Adjusted EPS guidance excludes a $1.05 non-cash goodwill impairment charge, $0.40 related to restructuring and transformation activities, $0.35 of divestiture impacts related to the sale of the Associated Spring and Hänggi businesses, $0.06 of MB Aerospace short-term purchase accounting adjustments, $0.02 of acquisition-related impacts, and $0.03 of shareholder advisory costs.

Posted In: B

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