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Stanley Black & Decker: 2Q Earnings Snapshot

July 23, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWK at https://www.zacks.com/ap/SWK

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