Stanley Black & Decker Posts Q2 Profit, Beats Market, But Sales Down, Below Street; Stock Down

(RTTNews) - Stanley Black & Decker, Inc. (SWK) reported Tuesday a profit in its second quarter, compared to prior year's loss, and adjusted earnings beat market estimates. Meanwhile, net sales were weaker due to a slow outdoor buying season and tariff-related shipment disruptions, amd missed the Street view.

In the pre-market activity on the NYSE, Stanley Black & Decker shares were losing around 6.6 percent to trade at $69.00.

In the second quarter, net earnings were $101.9 million, compared to prior year's net loss of $11.2 million. Earnings per share were $0.67, compared to loss of $0.07 a year ago.

Adjusted net earnings from continuing operations were $163.1 million or $1.08 per share, compared to last year's $164.5 million or $1.09 per share.

The Wall Street analysts on average expected the company to report earnings of $0.42 per share. Analysts' estimates typically exclude special items.

Second-quarter EBITDA margin was 6.0 percent versus 5.3 percent in the prior year. Second quarter adjusted EBITDA margin was 8.1 percent of sales versus 10.7 percent of sales in the prior year.

Net sales were $3.95 billion, down 2 percent from last year's $4.02 billion. The Street was looking for net sales of $3.99 billion for the quarter.

Volume was down 4 percent, partially offset by price increase of 1 percent and positive currency impact of 1 percent.

The Company further said it will review its planning scenario, including the current estimated tariff impact net of price and supply chain adjustments, on its earnings call.

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