BARNES GROUP INC

onebarnes.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Oct 29, 2024. Its latest SEC filing is a 15-12G from Feb 6, 2025.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Makes precision industrial components and systems for manufacturers, and produces and repairs turbine-engine parts for commercial and defense aviation customers.

How Did They Make Money?

Barnes earns money from product sales, generally when products ship or are delivered, and from repairs and services as work is performed; some customized contracts are earned over time.

FY2023 revenue

Who Were Their Customers?

Aerospace serves turbine-engine makers, commercial airlines and defense customers; Industrial products are sold mainly through Barnes’ direct sales force and global distribution channels.

Customers above 10% of revenue, FY2023

of revenue from one customer

FY2021: 17% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 1 cent of every revenue dollar as net income in FY2023 and turned 4 cents into free cash flow.

Operating income, FY2023

6% of revenue

▲ +56% vs FY2022 ($57.1M, 5%)

Net income, FY2023

1% of revenue

▲ +19% vs FY2022 ($13.5M, 1%)

Free cash flow, FY2023

4% of revenue

▲ +40% vs FY2022 ($40.5M, 3%)

How Were They Changing?

Since the FY2023 annual report

Latest quarter: Q3 FY2024, the three months to Sep 30, 2024

Revenue: ▲ +7%; vs $361M in Q3 FY2023
Net income: ▼ −90% (Loss); vs −$21.7M in Q3 FY2023

Jan 27, 2025 Apollo completed its acquisition of Barnes The all-cash transaction made Barnes privately held, and its shares were delisted from the New York Stock Exchange.
Oct 7, 2024 Barnes agreed to be acquired by Apollo and suspended full-year guidance
Apr 4, 2024 Barnes sold Associated Spring and Hänggi businesses One Equity Partners acquired the businesses.

Held flat. Revenue was $1.5B in FY2023, about the same as the $1.5B of FY2019.

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