Stanley Black & Decker Q1: revenue -2%, GAAP EPS $0.13, adj. EPS $0.56; gross margin +740bps

STANLEY BLACK & DECKER, INC.

2024-Q1 EPS reported $0.13 revenue$3,869,500,000

Revenue $3.87B (-2% YoY); GAAP EPS $0.13 (vs -$1.26 loss), adjusted EPS $0.56.
Gross margin 28.6% (up 740bps); adjusted gross margin 29.0% (up 590bps) on lower destocking and supply chain benefits.
Tools & Outdoor segment margin 7.8% (vs 0.6% prior); Engineered Fastening organic sales +5%.
Closed STANLEY Infrastructure sale for $760M on Apr 1; proceeds used to reduce short-term debt.
Reiterated 2024 guidance: adj EPS $3.50-$4.50, FCF $0.6-$0.8B; cost program on track for $1.5B savings 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 first quarter 2024 results: revenue $3.9 Billion, EPS GAAP EPS Was $0.13; Adjusted EPS* Was $0.56. Guidance reaffirmed.

Period: first quarter 2024
Revenue: $3.9 Billion
EPS: GAAP EPS Was $0.13; Adjusted EPS* Was $0.56
Guidance: reaffirmed
Result: reported results

Exact text from the filing

May 2, 2024 ... Stanley Black & Decker (NYSE: SWK) , a worldwide leader in tools and outdoor, today announced first quarter 2024 financial results. • First Quarter Revenues of $3.9 Billion, Down 2% Versus Prior Year as Growth in DEWALT and Engineered Fastening was More Than Offset by Lower Infrastructure Volume and Muted Consumer and DIY Demand • First Quarter

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STANLEY BLACK & DECKER, INC. filing history →

Source: SEC EDGAR

accession 0000093556-24-000088

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