Stanley Black & Decker narrows FY24 adjusted EPS to $3.90-$4.30 from $3.70-$4.50

Consensus $4.20. Backs FY24 free cash flow view $650M-$850M. Patrick Hallinan, executive VP and CFO, commented, “Our gross margin meaningfully expanded in the third quarter versus both the prior year quarter and the first half of 2024, driven by the disciplined execution of our supply chain transformation, and we remain on track to achieve an approximately 30% adjusted gross margin* for the full year. Our ability to deliver approximately $200 million of free cash flow* year-to-date supported our capital allocation priorities, including our dividend and debt reduction, along with reinvestment in growth initiatives. Looking forward, we remain focused on executing further supply chain improvements to drive toward our target of 35%+ adjusted gross margins,* support incremental growth investments and deliver improved earnings. Our top priorities remain delivering margin expansion, cash generation and balance sheet strength to position the Company for long-term growth and value creation.”