Stanley Black & Decker Q1 Profit Plunges 34% to $59.6M, EPS Falls to $0.39
summarizeSummary
Stanley Black & Decker reported a significant decline in its first-quarter GAAP profit, which fell to $59.6 million, or $0.39 per share, from $90.4 million, or $0.60 per share, in the same period last year. Despite a 2.7% increase in revenue to $3.846 billion, the substantial retreat in the bottom line is a material negative development. The company reiterated its full-year adjusted EPS guidance of $4.90 to $5.70, which aligns with the outlook reaffirmed on April 20. This Q1 performance, particularly the profit contraction, is new information that could weigh on investor sentiment and the stock price, despite the revenue growth and reaffirmed guidance.
At the time of this announcement, SWK was trading at $79.25 on NYSE in the Manufacturing sector, with a market capitalization of approximately $12.2B. The 52-week trading range was $58.23 to $93.37. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.