The tool manufacturer reported earnings of $1.83 a share, bolstered by the absence of prior-year asset-impairment charges. When accounting for one-time items, including 67 cents per share from tariff refunds, adjusted earnings reached $2.31 a share, comfortably outpacing the $1.55 estimate expected by analysts. Sales dipped 1% to $3.73 billion, narrowly missing Wall Street projections as lower pricing and portfolio shifts weighed against volume gains.
In section Market Quotes
Stanley Black & Decker Profits Surge as Toolmaker Raises Guidance
Stanley Black & Decker posted a sharp rise in third-quarter net income to $272.1 million, a significant jump from the $51.4 million recorded during the same period last year. Despite a marginal decline in total sales, the company responded to strong underlying performance by lifting its full-year earnings outlook.
President and Chief Executive Chris Nelson noted robust activity within the Tools & Outdoor segment, specifically citing sustained momentum across U.S. retail and industrial channels. Driven by these results, the company raised its annual earnings projection to a range of $5.45 to $5.85 a share. Its adjusted per-share guidance also climbed to a new range of $5.95 to $6.25, even as analysts maintain a slightly higher consensus estimate of $6.33 for the full year.
Comments (0)
No comments yet. Be the first!