Stanley revenues increase 10% in Q3
Citing growth across its portfolio, Stanley Black & Decker posted third-quarter revenues of $2.76 billion, up 10% from the same period last year.
Net earnings increased to $166.0 million, up from $115.2 million.
“Growth was robust across the portfolio with our CDIY and Industrial segments posting another strong organic growth quarter, and with the exception of Europe, Security also achieved solid, mid-single digit organic growth," said CEO John Lundgren.
Net sales in the construction and DIY segment increased 5%. The overall segment profit was 14.9%.
However, Stanley cut its earnings per share guidance -- to a range of $4.90 to $5.00, down from a previous guidance of $5.40 to $5.65. Stanley blamed the "impact of the U.S. government shutdown on organic growth."