The toolmaker's earnings report was disappointing, but understandable given the circumstances.Shares in tools and industrial products company Stanley Black & Decker (SWK 0.47%) slumped by 15.6% in October, according to data from S&P Global Market Intelligence. You have to look no further than the company's third-quarter 2024 earnings report for the reason for the fall. In a nutshell, the company took a step back in its recovery path, and management's commentary indicated that it would take a bit longer than ...

Stanley Black & Decker, Inc. (SWK) reported third-quarter 2024 adjusted earnings of $1.22 per share, which beat the Zacks Consensus Estimate of $1.03. The bottom line increased 16.2% year over year. Stanley Black's net sales of $3.75 billion missed the consensus estimate of $3.78 billion. The top line declined 5.1% year over year due to weakness in both segments. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Segmental Discussion Revenues from SWK's primary segment, Tools & Outdoo ...

Key Takeaways Stanley Black & Decker missed profit and sales estimates on weak demand from consumers and the automotive sector. Gross margin widened on improvements in the toolmaker's supply chain. The tool company narrowed its full-year adjusted earnings per share forecast. The news sent its shares into negative territory for the year so far. Stanley Black & Decker (SWK) shares plunged as the toolmaker posted worse-than-expected results and narrowed its guidance, citing falling consumer demand and a slowdo ...

Stanley Black & Decker, Inc. (NYSE:SWK) Q3 2024 Earnings Conference Call October 29, 2024 8:00 AM ET Company Participants Dennis Lange - Vice President, Investor Relations Donald Allan - President and Chief Executive Officer Christopher Nelson - Chief Operating Officer, Executive Vice President and President, Tools & Outdoor Patrick Hallinan - Executive Vice President and Chief Financial Officer Conference Call Participants Julian Mitchell - Barclays Chris Snyder - Morgan Stanley Timothy Wojs - Baird Jeffre ...

Third Quarter 2024 Overview O c t o b e r 2 9 , 2 0 2 4 StanleyBlack&Decker For those who make the world." Participants Don Allan President & CEO Chris Nelson COO, EVP And President, Tools & Outdoor Pat Hallinan Executive Vice President, CFO Dennis Lange Vice President, Investor Relations 3Q'24 Earnings Call | 2 Cautionary Statement | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Financial Performance - Net sales for Q3 2024 were $3,751.3 million, a decrease of 5.1% compared to $3,953.9 million in Q3 2023[1] - Gross profit increased to $1,120.6 million, representing 29.9% of net sales, up from 26.8% in the same quarter last year[1] - Net earnings from continuing operations were $91.1 million, compared to $4.7 million in Q3 2023, reflecting a significant improvement[1] - Year-to-date net sales for 2024 reached $11,645.2 million, down from $12,044.6 million in the same period of 2023[7] - Year-to-date net earnings from continuing operations for 2024 were $91.4 million, down from $433.7 million in 2023[12] Cash Flow and Assets - The company reported a free cash flow of $199.3 million for Q3 2024, down from $364.0 million in Q3 2023[5] - Total assets decreased to $22,481.8 million as of September 28, 2024, from $23,663.8 million at the end of 2023[3] - Short-term borrowings significantly reduced to $387.4 million from $1,074.8 million at the end of 2023[3] - Total current liabilities decreased to $5,292.3 million from $5,883.2 million at the end of 2023[3] Earnings and Profitability - The company’s diluted earnings per share from continuing operations was $0.60, compared to $0.03 in the same quarter last year[1] - Diluted earnings per share for continuing operations in Q3 2024 were $0.60, compared to $0.03 in Q3 2023, reflecting a significant improvement[9] - Total segment profit for Q3 2024 was $397.7 million, compared to $335.9 million in Q3 2023, with an overall profit margin of 10.6%[7] - Tools & Outdoor segment profit for year-to-date 2024 is $1,010.3 million, up from $568.5 million in year-to-date 2023, representing a 77.7% increase[20] - Total segment profit for year-to-date 2024 is $1,028.3 million, an increase from $604.0 million in year-to-date 2023, reflecting a growth of 70.3%[20] Segment Performance - Tools & Outdoor segment reported net sales of $3,263.3 million, down from $3,355.3 million year-over-year, while Industrial segment sales fell to $488.0 million from $598.6 million[7] - Segment profit for Tools & Outdoor increased to $327.5 million in Q3 2024, up from $273.4 million in Q3 2023, representing a profit margin of 10.0%[7] - Industrial segment profit for year-to-date 2024 is $205.6 million, compared to $220.8 million in year-to-date 2023, showing a decrease of 6.9%[20] - Segment profit as a percentage of net sales for Tools & Outdoor increased to 10.0% in year-to-date 2024 from 5.6% in year-to-date 2023[20] Adjustments and Charges - Non-GAAP adjustments for Q3 2024 included $39.9 million, leading to a total adjusted segment profit of $363.4 million[16] - Asset impairment charges were $46.9 million in Q3 2024, down from $124.0 million in Q3 2023[1] - Asset impairment charges in 2024 include a $41.0 million pre-tax impairment charge related to the Lenox trade name[26] - Environmental charges in 2024 amount to $152.1 million, primarily due to reserve adjustments for the Centredale Superfund site[26] Strategic Focus - The company expects continued focus on supply chain transformation and cost management strategies to enhance profitability moving forward[16] - The company anticipates continued improvements in operational excellence and strategic sourcing initiatives to enhance profitability moving forward[22] - Supply chain transformation costs for year-to-date 2024 include $57.8 million in footprint rationalization, down from $88.3 million in year-to-date 2023[25] EBITDA - Adjusted EBITDA for year-to-date 2024 is $1,178.3 million, compared to $787.7 million in year-to-date 2023, marking a 49.5% increase[24]

Third Quarter Gross Margin Up Versus Prior Year as Supply Chain Transformation Continues Driving Margin ExpansionStrong Third Quarter Cash Generation Supports Ongoing Capital Allocation Priorities Focused on Shareholder Dividends and Further Debt Reduction NEW BRITAIN, Conn., Oct. 29, 2024 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK), a worldwide leader in tools and outdoor, today announced third quarter 2024 financial results.   Third Quarter Revenues of $3.8 Billion, Down 5% Versus Prior Year as Gro ...

For Immediate Release Chicago, IL – October 28, 2024 – Today, Zacks Equity Research Stanley Black & Decker, Inc. (SWK) and Techtronic Industries Company Ltd. (TTNDY) . Industry: Tools - Manufacturing Link: https://www.zacks.com/commentary/2357859/2-manufacturing-tool-stocks-to-overcome-industryheadwinds The Zacks Manufacturing-Tools & Related Products industry has been grappling with persistent weakness in the manufacturing sector, declines in new orders and supply-chain disruptions. The shortage of skilled ...

The Zacks Manufacturing-Tools & Related Products industry has been grappling with persistent weakness in the manufacturing sector, declines in new orders and supply-chain disruptions. The shortage of skilled labor in the United States creates concerns for the industry. However, industry players' emphasis on cost-control initiatives and investments in product development have been enabling them to be competitive in the market. Stanley Black & Decker, Inc. (SWK) and Techtronic Industries Company Limited (TTND ...

Stanley Black & Decker, Inc. (SWK) is scheduled to release third-quarter 2024 results on Oct. 29, before market open.The Zacks Consensus Estimate for earnings has increased 1% in the past 60 days. The company has an impressive earnings surprise history, having outperformed the consensus estimate in each of the preceding four quarters, the average surprise being 20.3%.The consensus estimate for this New Britain, CT-based tool maker’s revenues is pegged at $3.8 billion, indicating a decrease of 4.5% from the ...