Loading...
•
Sep 30, 2022
Stanley Black & Decker Q3 2022 Earnings Report
Reported third quarter 2022 results, with revenue up 9% versus prior year, led by acquisitions in outdoor power equipment, strong industrial growth and price realization.
Key Takeaways
Stanley Black & Decker announced third quarter 2022 financial results, with revenues of $4.1 billion, up 9% versus prior year. Diluted GAAP EPS was $0.24, and adjusted diluted EPS was $0.76. The company is updating its full year 2022 diluted GAAP EPS guidance range to $0.10 to $0.80 and adjusted diluted EPS to $4.15 to $4.65.
Revenues of $4.1 billion, up 9% versus prior year, led by acquisitions in outdoor power equipment, industrial growth and price realization.
Diluted GAAP EPS was $0.24; excluding charges, adjusted diluted EPS was $0.76.
Successfully Completed the Electronic Security, Access Technologies and Oil & Gas Divestitures.
Global Cost Reduction Program On-Track For Long-Term Targets and Delivers $65 Million Pre-Tax Savings in the Third Quarter with a $290 Million Inventory Reduction.
Revenue by Segment
Forward Guidance
The Company is revising its 2022 EPS outlook to $0.10 to $0.80 on a diluted GAAP basis from $0.80 to $2.05, and on a Non-GAAP adjusted basis to $4.15 to $4.65 from $5.00 to $6.00. Free cash flow is expected to be $0.3 to $0.6 billion in the fourth quarter.
Positive Outlook
- Disciplined capital allocation
- Commitment to dividends
- Debt reduction
- Strong investment grade credit ratings
Challenges Ahead
- Lower fourth quarter revenue, primarily driven by Europe
- Currency translation
- Higher production curtailment and destocking costs
- Tax impact from lower earnings
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...