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Stanley Black & Decker, Inc. (SWK) Q3 2023 Earnings Call Transcript
Stanley Black & Decker (NYSE:SWK) (SBD) shares rose after the industrial equipment provider's third quarter earnings topped estimates. The company's earnings per share (EPS) were $1.05, ahead of estimate of $0.84.
While the top- and bottom-line numbers for Stanley Black & Decker (SWK) give a sense of how the business performed in the quarter ended September 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Stanley Black & Decker (SWK) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.76 per share a year ago.
Shares of Stanley Black & Decker Inc. SWK, -0.03% jumped 2.1% in premarket trading Friday to bounce off a five-month low, after the tools maker reported third-quarter profit that was well above expectations and raised the full-year outlook, as cost cutting provided a boost. Net income dropped to $4.7 million, or 3 cents a share, from $844.6 million, or $5.50 a share, in the year-ago period.
Stanley Black's (SWK) Q3 results are likely to be hurt by lower volumes. However, cost-control measures are expected to drive earnings.
Allegion is home to many No. 1 and No. 2 access and security brands throughout North America and Europe.
SWK's premium valuations do not match the consensus estimates, attributed to the underwhelming top and bottom line projections through FY2025. Combined with the bloated inventory, aggressive pricing actions, and uncertain macroeconomic outlook, we believe its eventual reversal may take longer than expected. The "trifecta of high borrowing costs, tight housing supply, and elevated home prices" doesn't a pretty picture for the US housing market as well, triggering further headwinds to SWK's recovery.
NEW BRITAIN, Conn. , Sept. 19, 2023 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) will broadcast its third quarter 2023 earnings conference call on Friday, October 27, 2023.
Stanley Black's (SWK) efforts to eliminate and reduce overlapping capabilities and functions bode well for the company. Its shareholder-friendly measures are encouraging.