Stanley Black & Decker 3Q Sales Drop Hits Shares -- Update

Dow Jones

2024-10-29

By Dean Seal

Stanley Black & Decker posted a steeper-than-expected drop in quarterly sales as softer volumes offset an uptick in prices, sending the stock sharply lower.

Shares of the power-tools maker were down 12% at $90.99 in early trading, falling into negative territory year-to-date. The stock is on track for its biggest single-day decline in more than two years.

The New Britain, Conn., company Tuesday said its third-quarter sales dropped 5% to $3.75 billion in the third quarter, missing projections for $3.8 billion, according to FactSet.

The top line was dented by a "weak consumer and automotive production backdrop," Chief Executive Donald Allan Jr. said. Volumes were down, partially offset by higher prices.

Margins weakened during the quarter as well from investments the company said are designed to help it gain market share.

Quarterly earnings came in at $91.1 million, or 60 cents a share. That's up from $4.7 million, or 3 cents a share, in a year-ago quarter that included a substantial non-cash impairment charge.

Stripping out one-time items, adjusted earnings were $1.22 a share. Analysts polled by FactSet had been expecting $1.05 a share.

Stanley Black & Decker narrowed its full-year earnings view by 25 cents at each end to $1.15 to $1.75 a share and narrowed its adjusted earnings outlook by 20 cents at each end to $3.90 to $4.30 a share.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

October 29, 2024 10:38 ET (14:38 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The stock is on track for its biggest single-day decline in more than two years. \n</p>\n<p>\n  The New Britain, Conn., company Tuesday said its third-quarter sales dropped 5% to $3.75 billion in the third quarter, missing projections for $3.8 billion, according to FactSet. \n</p>\n<p>\n  The top line was dented by a \"weak consumer and automotive production backdrop,\" Chief Executive Donald Allan Jr. said. Volumes were down, partially offset by higher prices. \n</p>\n<p>\n  Margins weakened during the quarter as well from investments the company said are designed to help it gain market share. \n</p>\n<p>\n  Quarterly earnings came in at $91.1 million, or 60 cents a share. That's up from $4.7 million, or 3 cents a share, in a year-ago quarter that included a substantial non-cash impairment charge. \n</p>\n<p>\n  Stripping out one-time items, adjusted earnings were $1.22 a share. Analysts polled by FactSet had been expecting $1.05 a share. \n</p>\n<p>\n  Stanley Black & Decker narrowed its full-year earnings view by 25 cents at each end to $1.15 to $1.75 a share and narrowed its adjusted earnings outlook by 20 cents at each end to $3.90 to $4.30 a share. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 29, 2024 10:38 ET (14:38 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones & Company, Inc.\n</p>\n</font></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta content=\"text/html; charset=utf-8\" http-equiv=\"Content-Type\"/>\n<meta content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\" name=\"viewport\"/>\n<meta content=\"telephone=no,email=no,address=no\" name=\"format-detection\"/>\n<title>Stanley Black & Decker 3Q Sales Drop Hits Shares -- Update</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStanley Black & Decker 3Q Sales Drop Hits Shares -- Update\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\">\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2024-10-29 22:38</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  Stanley Black & Decker posted a steeper-than-expected drop in quarterly sales as softer volumes offset an uptick in prices, sending the stock sharply lower. \n</p>\n<p>\n  Shares of the power-tools maker were down 12% at $90.99 in early trading, falling into negative territory year-to-date. The stock is on track for its biggest single-day decline in more than two years. \n</p>\n<p>\n  The New Britain, Conn., company Tuesday said its third-quarter sales dropped 5% to $3.75 billion in the third quarter, missing projections for $3.8 billion, according to FactSet. \n</p>\n<p>\n  The top line was dented by a \"weak consumer and automotive production backdrop,\" Chief Executive Donald Allan Jr. said. Volumes were down, partially offset by higher prices. \n</p>\n<p>\n  Margins weakened during the quarter as well from investments the company said are designed to help it gain market share. \n</p>\n<p>\n  Quarterly earnings came in at $91.1 million, or 60 cents a share. That's up from $4.7 million, or 3 cents a share, in a year-ago quarter that included a substantial non-cash impairment charge. \n</p>\n<p>\n  Stripping out one-time items, adjusted earnings were $1.22 a share. Analysts polled by FactSet had been expecting $1.05 a share. \n</p>\n<p>\n  Stanley Black & Decker narrowed its full-year earnings view by 25 cents at each end to $1.15 to $1.75 a share and narrowed its adjusted earnings outlook by 20 cents at each end to $3.90 to $4.30 a share. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 29, 2024 10:38 ET (14:38 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones & Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SWK","symbol_name":"美國史丹利公司","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2479814922","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479814922","pubTimestamp":1730212680,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Stanley Black & Decker posted a steeper-than-expected drop in quarterly sales as softer volumes offset an uptick in prices, sending the stock sharply lower.Shares of the power-tools maker were down 12% at $90.99 in early trading, falling into negative territory year-to-date. The stock is on track for its biggest single-day decline in more than two years.The New Britain, Conn., company Tuesday said its third-quarter sales dropped 5% to $3.75 billion in the third quarter, missing projections for $3.8 billion, according to FactSet.The top line was dented by a \"weak consumer and automotive production backdrop,\" Chief Executive Donald Allan Jr. said. Volumes were down, partially offset by higher prices.Margins weakened during the quarter as well from investments the company said are designed to help it gain market share.Quarterly earnings came in at $91.1 million, or 60 cents a share. That's up from $4.7 million, or 3 cents a share, in a year-ago quarter that included a substantial non-cash","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SWK":"美国史丹利公司"},"translate_title":"斯坦利百得第三季度销售额下降影响股价——更新","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SWK":1},"content_text":"By Dean Seal \n\n\n \n\n\n  Stanley Black & Decker posted a steeper-than-expected drop in quarterly sales as softer volumes offset an uptick in prices, sending the stock sharply lower. \n\n\n  Shares of the power-tools maker were down 12% at $90.99 in early trading, falling into negative territory year-to-date. The stock is on track for its biggest single-day decline in more than two years. \n\n\n  The New Britain, Conn., company Tuesday said its third-quarter sales dropped 5% to $3.75 billion in the third quarter, missing projections for $3.8 billion, according to FactSet. \n\n\n  The top line was dented by a \"weak consumer and automotive production backdrop,\" Chief Executive Donald Allan Jr. said. Volumes were down, partially offset by higher prices. \n\n\n  Margins weakened during the quarter as well from investments the company said are designed to help it gain market share. \n\n\n  Quarterly earnings came in at $91.1 million, or 60 cents a share. That's up from $4.7 million, or 3 cents a share, in a year-ago quarter that included a substantial non-cash impairment charge. \n\n\n  Stripping out one-time items, adjusted earnings were $1.22 a share. Analysts polled by FactSet had been expecting $1.05 a share. \n\n\n  Stanley Black & Decker narrowed its full-year earnings view by 25 cents at each end to $1.15 to $1.75 a share and narrowed its adjusted earnings outlook by 20 cents at each end to $3.90 to $4.30 a share. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 29, 2024 10:38 ET (14:38 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}