SWK Q2 GAAP loss $0.13 per share; revenue $4.0B down 3%; raises adj EPS and FCF guidance

STANLEY BLACK & DECKER, INC.

2024-Q2 EPS reported $0.05 revenue$7,893,900,000

Q2 GAAP EPS ($0.13) vs $1.18 prior year; revenue $4.02B down 3% YoY; organic revenue grew 1%.
Gross margin 28.4% up 600 bps; adjusted gross margin 29.2% up 560 bps; inventory destocking costs fell.
Tools & Outdoor segment profit $316M (9.0% margin, up 610 bps); Industrial $66.8M (13.5% margin).
Operating cash flow $573M, free cash flow $486M; debt reduced $1.2B in Q2 from strong cash generation.
FY 2024 guidance: GAAP EPS $0.90-$2.00 (from $1.60-$2.85); adj EPS $3.70-$4.50; FCF raised to $650-$850M.

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