1156 ET - Stanley Black & Decker had a mixed quarter in which a big tax benefit drove its earnings beat, Edward Jones analyst Faisal Hersi says in a research note. Organic revenue was higher than anticipated, which was a nice surprise, but operating profitability fell short of expectations, even as it improved sequentially due to the company's cost-cutting efforts and improving supply-chain expenses, Hersi says. The tool market is still choppy and do-it-yourself work remains weak, while professional demand is solid, the analyst says. He expects mixed demand across the company's markets to persist near-term, though tools volume should keep recovering this year. Shares fall 2% to $84.97. (dean.seal@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 11:56 ET (16:56 GMT)
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