Stanley Black & Decker Inc Up 2.49% To $101.82 After Earnings Beat

Jul 03, 2023

Tuesday, August 1, 2023 - Stanley Black & Decker Inc (SWK) reported upside earnings and revenues today.Analyst expectations for Stanley Black & Decker Inc earnings per share (EPS) were at a loss of $0.38 per share, with the company surpassing those estimates with a reported EPS loss of $0.11 per share, leading to a positive surprise of $0.27 per share (71%). Stanley Black & Decker Inc's earnings were down 106% year-over-year as the firm reported an EPS of $1.77 in its year-ago quarter. The negative annual growth shows the Industrials company isn't performing well amid current economic conditions. Revenues were upbeat at $4.2 billion. That represents a 5.33% decrease in revenues from the year-ago report and is 0.90% higher than consensus estimates set at $4.1 billion. The stock is up 2.49% to $101.82 after the report.The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.Trading in the five days leading up to the report earned Stanley Black & Decker Inc a Bullish Sentiment Rank from InvestorsObserver.Stanley Black & Decker Inc has performed a little above average during the past few months. Before the report, Stanley Black & Decker Inc received a Long-Term Technical Rank by InvestorsObserver of 68, putting it in the top half of stocks. The firm set a 52-week low on October 13, 2022 at $70.24 and set a 52-week high on August 16, 2022 at $104.42.Stanley Black & Decker Inc is a manufacturer of hand and power tools. The company operates three business segments: tools and storage, security, and industrial. Tools and storage, the largest segment by revenue, sells hand tools and power tools to professional end-users, distributors, retail consumers, and industrial customers. Security installs electronic security systems and provides electronic security services including alarm monitoring and video surveillance. Industrial sells engineered fastening products such as stud-welding systems, blind inserts and tools, and engineered plastic and mechanical fasteners. The largest end market is the United States of America.