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Dec 31, 2022
Stanley Black & Decker Q4 2022 Earnings Report
Stanley Black & Decker reported fourth quarter and full year 2022 financial results, with revenues of $4.0 billion for the quarter and $16.9 billion for the full year.
Key Takeaways
Stanley Black & Decker's fourth-quarter revenues were $4.0 billion, in line with the prior year. The company reported a GAAP EPS loss of ($0.72) and an adjusted EPS loss of ($0.10). They generated $520 million in free cash flow and reduced inventory by $500 million during the quarter. The company is guiding for a full-year 2023 GAAP EPS of ($1.65) to $0.85.
Fourth-quarter revenues were $4.0 billion, matching the previous year's performance.
The company's diluted GAAP EPS was ($0.72), while the adjusted diluted EPS was ($0.10).
Free cash flow for the fourth quarter reached $520 million, contributing to a $0.5 billion debt reduction.
The company is focused on streamlining the organization and prioritizing cash flow generation.
Revenue by Segment
Forward Guidance
Management expects 2023 EPS to be in the range of ($1.65) to $0.85 on a GAAP basis, and between $0.00 to $2.00 on an adjusted basis. Free cash flow is expected to approximate $0.5 billion to $1.0 billion.
Positive Outlook
- Prioritizing free cash flow generation
- Focusing on serving its customers
- Leveraging the SBD Operating Model to drive working capital efficiency
- Positioning the Company for gross margin expansion
- Enhanced balance sheet strength
Challenges Ahead
- Wider range of 2023 demand possibilities
- Destocking scenarios
- EPS loss expected in the front half
- Impact of targeted production curtailments will continue to weigh on margins through the first half of 2023
Historical Earnings Impact
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Avg. Return Before/After Earnings
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