Stanley Black & Decker Q2 GAAP EPS $1.18, adjusted loss $0.11; revenue down 5%

STANLEY BLACK & DECKER, INC.

2023-Q2 EPS reported -$0.07 revenue$8,090,700,000

Net sales $4.16B, down 5% YoY; Tools & Outdoor volume declined 6% on lower consumer DIY demand.
Adjusted diluted EPS loss of $0.11, vs year-ago adjusted profit, due to high-cost inventory and production curtailments.
Inventory reduced by $1.4B since mid-2022; free cash flow ~$200M in Q2.
Narrowed FY2023 adjusted EPS guidance to $0.70–$1.30 from $0–$2.00; free cash flow guidance $0.6B–$0.9B.
Global Cost Reduction Program delivered $460M pre-tax run-rate savings YTD; on track for $1B by year-end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STANLEY BLACK & DECKER, INC. reported second quarter 2023 results: revenue $4.2 Billion, net income Diluted GAAP EPS Was $1.18. Guidance reaffirmed.

Period: second quarter 2023
Revenue: $4.2 Billion
Net income: Diluted GAAP EPS Was $1.18
Guidance: reaffirmed
Result: reported results

Exact text from the filing

1, 2023 ... Stanley Black & Decker (NYSE: SWK) , a worldwide leader in tools and outdoor, today announced second quarter 2023 financial results. • Second Quarter Revenues of $4.2 Billion, Down Versus Prior Year Due to Lower Consumer Outdoor and DIY Volume as well as the Oil & Gas Business Divestiture • Second Quarter Diluted GAAP EPS Was $1.18; Excluding Charges

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Source: SEC EDGAR

accession 0000093556-23-000022

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