Stanley Black & Decker, Inc. (NYSE: SWK) muscled up Friday, on reporting quarterly earnings.
A release out Friday morning showed 2Q'18 revenues totaled $3.6 Billion, Up 11% from the prior-year, headlined by 7% organic growth
2Q Diluted GAAP EPS were $1.93. Net sales for the quarter were $3.6 billion, up 11% versus prior year. Restructuring charges for the quarter were $13.4 million.
Excluding charges, restructuring charges for the quarter were $8.9 million, compared to $6.3 million in 2Q'17.
The Company is reiterating its adjusted EPS range of $8.30 - $8.50 and its free cash flow conversion estimate of approximately 100%.
CEO James M. Loree commented, "We delivered a strong second quarter performance, successfully overcoming approximately $70 million of commodity and currency pressure. Total revenues were up 11%, with each business contributing.
"We are at a moment in time when company-specific growth catalysts, which are as strong as any time in 20 years, enable us to vault over difficult prior year revenue comps. At the same time, we are operating with the agility required to successfully navigate through a growing series of exogenous shocks, including cost inflation, FX volatility and tariffs.”
Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, electronic security solutions, healthcare solutions, engineered fastening systems, and more.
Shares climbed $2.77, or nearly 2%, to $142.42.
