Stanley Black & Decker Q2: Earnings Beat, 5% Sales Decline, Narrowed FY23 EPS Outlook & More
Portfolio Pulse from Shivani Kumaresan
Stanley Black & Decker Inc (NYSE:SWK) reported a 5% YoY sales decline in Q2 FY23 to $4.20 billion, beating the analyst consensus. The decrease was driven by lower Consumer Outdoor and DIY volume and the Oil & Gas Business sale. The company's gross margin contracted to 22.4%, and the gross profit decreased 22.7% to $932.1 million. Adjusted EPS of $(0.11) beat the analyst consensus. The company held $395.9 million in cash and equivalents as of July 1, 2023. The company narrowed its FY23 adjusted EPS outlook from $0.00 - $2.00 to $0.70 - $1.30.
August 01, 2023 | 12:01 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Stanley Black & Decker reported a 5% YoY sales decline in Q2 FY23, beating analyst consensus. Adjusted EPS also beat consensus. The company narrowed its FY23 adjusted EPS outlook.
Despite the sales decline, Stanley Black & Decker beat analyst expectations, which could have a positive impact on investor sentiment. However, the company's narrowed EPS outlook for FY23 might cause some uncertainty, potentially offsetting the positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100