Stanley Black & Decker Q4 Profit Beat The Street, But Sales Decline

(RTTNews) - Stanley Black & Decker, Inc. (SWK), a provider of Tools and Storage products, Thursday reported a loss of $276.1 million or $1.84 per share for the fourth quarter, wider than $106.2 million or $0.72 per share in the same quarter a year ago, primarily due to higher income taxes. However, excluding one-off items, the company reported profit that beat the consensus estimates.

The company had a tax of $197.3 million for the latest quarter, compared with a tax benefit of $51.6 million in the previous year.

Excluding one-time items, Stanley Black & Decker posted profit of 138 million or $0.92 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.79 per share. Analysts' estimates typically exclude special items.

Sales for the quarter declined to $3.737 billion from $3.987 billion a year ago. The consensus estimate was for $3.84 billion.

For 2024, Stanley Black & Decker expects adjusted EPS to be in the range of $3.50 - $4.50. Analysts expect the company to report earnings of $4.46 per share for the year.