Stanley Black & Decker Reports Strong Q2 Results, Raises Full-Year Guidance
Stanley Black & Decker (NYSE:SWK) reported second-quarter results that exceeded expectations on Wednesday. The company's adjusted earnings per share came in at $1.57 versus a consensus estimate of $1.21, while revenue reached $4 billion against an expected $3.96 billion. Organic sales rose 3% year-over-year due to strong demand across U.S. retail and industrial markets. The company raised its full-year guidance for adjusted earnings per share from $4.90–$5.70 to a new range of $5.20–$5.80, with the midpoint now above analyst expectations at $5.37. Free cash flow projections were also increased to between $600 million and $800 million. Stanley Black & Decker's Tools & Outdoor division drove performance with a 3% sales increase and improved operating margins. The Engineered Fastening segment saw revenue drop due to the recent divestiture of its aerospace business, though organic growth was still positive.
Tickers: $SWK
Topics: Earnings Guidance Update Organic Growth