Stanley Black & Decker ( (SWK) ) has realeased its Q3 earnings. Here is a breakdown of the information Stanley Black & Decker presented to its investors.
Stanley Black & Decker, a global leader in tools and outdoor equipment, is known for its innovative products catering to builders, tradespeople, and DIY enthusiasts worldwide.
The company’s third-quarter 2024 earnings report indicates a strategic focus on supply chain transformation and operational priorities, resulting in improved gross margins and strong cash generation.
For the third quarter of 2024, Stanley Black & Decker reported revenues of $3.8 billion, which is a decrease of 5% compared to the previous year, primarily impacted by mixed market demand and the divestiture of its Infrastructure business. Despite the revenue decline, the company achieved a gross margin of 29.9%, up 310 basis points from the last year, and an adjusted EPS of $1.22. Furthermore, the company generated $286 million in operating cash flow, contributing to $100 million in debt reduction.
The company remains committed to its multi-year strategic goals, including returning gross margins to historical levels, enhancing supply chain operations, and achieving organic revenue growth. Management has narrowed the 2024 EPS guidance range and maintains a positive outlook on achieving targeted gross margins and cash flow goals, emphasizing long-term growth and shareholder value creation.
