Stanley Black & Decker Q2 Adj. Profit Tops Estimate; Backs FY13 Adj. EPS View

(RTTNews) - Stanley Black & Decker, Inc. (SWK) reported that its second-quarter net earnings attributable to common shareowners increased to $187.1 million or $1.18 per share, from $154.8 million or $0.92 per share in the same quarter last year.

Normalized earnings per share of common stock for the quarter was $1.21, compared to $1.13 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.19 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew to $2.87 billion from $2.57 billion in the prior year quarter. Twelve analysts had consensus revenue estimate of $2.81 billion for the quarter.

The company continues to expect full year 2013 earnings per share to be in the range of $5.40 - $5.65 and free cash flow of approximately $1 billion, excluding charges / payments. Organic net sales are now expected to increase to 4-5% from 2012, compared to the prior estimate of 2-3% increase. Analysts expect the company to report earnings of $5.44 per share for fiscal 2013.

Including all charges, the company expects GAAP earnings per share to approximate $4.46 to $4.71 in 2013.