Stanley Black's (SWK) Q1 Earnings Beat, Revenues Down Y/Y

Published on 2 May 2024 on Zacks via Yahoo Finance

Stanley Black's (SWK) Q1 Earnings Beat, Revenues Down Y/Y

Stanley Black & Decker, Inc. SWK reported first-quarter 2024 adjusted earnings of 56 cents per share, which beat the Zacks Consensus Estimate of 55 cents. The company reported a loss of 41 cents per share in the year-ago quarter.Stanley Black’s net sales of $3.9 billion beat the consensus estimate of $3.8 billion. The top line declined 1.6% year over year due to weakness in the Tools & Outdoor segment.

Segmental Discussion

Revenues from SWK’s primary segment, Tools & Outdoor, totaled $3.3 billion, down approximately 1% year over year. Muted market demand weighed on segmental revenues. Our estimate for segmental revenues was $3.3 billion.Revenues from the Industrial segment grossed $584.9 million, down 5.1% year over year. Lower volumes in the infrastructure market hurt segmental revenues. Our estimate for segmental revenues was $549.2 million.

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