Stanley Black & Decker Inc

NYSE:SWK  
99.86
+1.56 (+1.59%)
Other Pre-Announcement

Stanley Black & Decker Reports 2Q 2022 Results

Published: 07/28/2022 10:26 GMT
Stanley Black & Decker Inc (SWK) - Stanley Black & Decker Reports 2q 2022 Results.
Q2 Revenue Rose 16 Percent to $4.4 Billion.
Q2 GAAP Earnings per Share $0.51.
Implementing Global Cost Reduction Program Expected to Deliver Pre-tax Savings of $1 Billion by End of 2023.
Expected Pre-tax Savings From Cost Reduction Program to Grow to Approximately $2 Billion Within 3 Years.
Updating Full Year 2022 Diluted GAAP EPS Guidance Range to $0.80 - $2.05.
Updating Full Year 2022 Adjusted Diluted EPS Guidance to $5.00 - $6.00.
Stanley Black & Decker - Has Implemented Significant Production Curtailments to Slow Finished Goods Manufacturing.
Stanley Black & Decker - & Expects Inventory to Decline Sequentially, Beginning Q3 2022.
Stanley Black & Decker - Co Expects Cost Reduction Initiatives to Generate Cost Savings of Approximately $150 to $200 Million in Remainder of 2022.
Stanley Black & Decker - Aggressively Reducing Inventory to Support Working Capital Reduction of $1.0 to $1.5 Billion & Free Cash Flow Generation in H2 of 2022.
Expects to Achieve $1 Billion of Cost Savings by End of 2023.
Embarking on a Three-year Journey to Completely Reshape Its Supply Chain.
Total Pre-tax Acquisition-related and Other Charges in Q2 of 2022 Were $248.1 Million.
Q2 Earnings per Share View $2.12, Revenue View $4.75 Billion -- Refinitiv Ibes Data (analyst estimates).
FY2022 Earnings per Share View $9.66, Revenue View $18.82 Billion -- Refinitiv Ibes Data (analyst estimates).