Stanley Black & Decker loses $66.7M in 4th quarter

Published on Tuesday, 22 January 2019 19:12
Written by The Associated Press

NEW BRITAIN - Stanley Black & Decker Inc. on Tuesday reported a fourth-quarter loss of $66.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New Britain-based company said it had a loss of 45 cents. Earnings, adjusted for costs related to mergers and acquisitions, were $2.11 per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of $2.11 per share.

The tool company posted revenue of $3.63 billion in the period, which topped Street forecasts. Seven analysts surveyed by Zacks expected $3.6 billion.

For the year, the company reported profit of $645.3 million, or $4.26 per share. Revenue was reported as $13.98 billion.

Stanley Black & Decker expects full-year earnings in the range of $8.45 to $8.65 per share.

Stanley Black & Decker shares have climbed 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 6.5 percent. The stock has fallen 23 percent in the last 12 months.

Posted in The Bristol Press, General Business, on Tuesday, 22 January 2019 19:12. Updated: Tuesday, 22 January 2019 19:15.