Stanley Black & Decker: 2Q Earnings Snapshot
NEW BRITAIN, Conn. (AP) _ Stanley Black & Decker Inc. (SWK) on Tuesday reported second-quarter profit of $356.3 million.
On a per-share basis, the New Britain, Connecticut-based company said it had net income of $2.37. Earnings, adjusted for costs related to mergers and acquisitions, were $2.66 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.55 per share.
The tool company posted revenue of $3.76 billion in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $3.8 billion.
Stanley Black & Decker expects full-year earnings in the range of $8.50 to $8.70 per share.
Stanley Black & Decker shares have climbed 18% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 19%. The stock has decreased almost 2% in the last 12 months.