Stanley Black & Decker (SWK) Beats Q1 Earnings and Revenue
Stanley Black & Decker ( SWK ) is a leading global manufacturer of branded tools and engineered solutions for professional, industrial and consumer applications. Also, the company provides integrated access and security solutions to commercial, institutional and residential customers. This New Britain, CT-based company has a $16.2 billion market capitalization.
However, weak industrial activities in the U.S. as well as damper global economy in the first-quarter 2016 might have adversely impacted demand for Stanley Black & Decker's products. Also, the company is likely to face severe headwinds from adverse currency translation movements. Investors are eagerly waiting for the company's latest earnings report.
Stanley Black & Decker's earnings track record has been quite satisfactory in the trailing four quarters. Better-than-expected results in three out of four quarters led to an average earnings surprise of +4.15%.
Currently, Stanley Black & Decker has a Zacks Rank #2 (Buy), but that could definitely change after the release of its upcoming earnings report. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Stanley Black & Decker reported earnings from continuing operations of $1.28 per share in first-quarter 2016. The bottom line result was above the Zacks Consensus Estimate of $1.19 per share.
Revenue: Revenues surpassed. Stanley Black & Decker generated revenues of $2,672.1 million, above the Zacks Consensus Estimate of $2,551 million.
Key Stats to Note: Stanley Black & Decker raised its organic revenue growth expectation from roughly 3% to 3−4%, while earnings is now predicted to be $6.20−$6.40 per share versus $6.00−$6.20 per share projected earlier.
Stock Price: Stanley Black & Decker shares were down 0.77% ahead of the report while no movement was noticed in the pre-market trading session.
Check back our full write up on this SWK earnings report later!
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