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PR Newswire is an important news source that can be accessed via the X-Billboard. It is part of the Newswire Hub, which bundles important international news sources for stock market participants in one central location. If you want to get a quick overview, you can easily scroll through the headlines. If you want to look at the news in more detail, you can use the detailed views of the info cards to directly access the respective news item and other analysis tools.
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State: 17.08.2024 | 11PM
Thu, 02.05.2024       Stanley Black & Decker
US8545021011

First Quarter Gross Margin Expanded Versus Prior Year Driven by Lower Inventory Destocking Costs, Supply Chain Transformation Benefits and Reduced Shipping Costs

Global Cost Reduction Program On-Track for Expected Pre-Tax Run-Rate Savings of $1.5 Billion by End of 2024 and $2 Billion by End of 2025 

NEW BRITAIN, Conn., May 2, 2024 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK), a worldwide leader in tools and outdoor, today announced first quarter 2024 financial results.  

First Quarter Revenues of $3.9 Billion, Down 2% Versus Prior Year as Growth in DEWALT and Engineered Fastening Was More Than Offset by Lower Infrastructure Volume and Muted Consumer and DIY DemandFirst Quarter Gross Margin Was 28.6%, Up 740 Basis Points Versus Prior Year; First Quarter Adjusted Gross Margin* Was 29.0%, Up 590 Basis Points Versus Prior YearFirst Quarter GAAP EPS Was $0.13; First Quarter Adjusted EPS* Was $0.56Completed STANLEY Infrastructure Divestiture on April 1; Net Proceeds Used to Reduce Short-Term DebtReiterating 2024 Full Year Guidance – Expect GAAP EPS of $1.60 to $2.85, Adjusted EPS* of $3.50 to $4.50 and Free Cash Flow* of $0.6 Billion to $0.8 Billion
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