Stanley Black & Decker Exceeds Estimates, Increases Outlook

Stanley Black & Decker the industrial toolmaker reported its earnings this week of $1.43 a share for its 2014-second quarter. The results were 17% higher than the same period one year ago and surpassed the analysts’ projections of $1.37 a share.

GAAP earnings a share were $1.37, which included charges for merger and acquisitions that amounted to 6 cents a share.

The toolmaker generated revenues of $2,886 million, which was up close to 1% from the same period one year earlier, but lower than analysts’ estimates of $2.943 million.

Stanley Black & Decker reports revenues under three different categories.

Revenues from its Construction and Do It Yourself sector, which were 48% of the revenues for the second quarter, were up just 0.1% to end the quarter at $1,395 million.

Its security sector reported total revenues of $601.6 million, which was 21% of the total. The Industrial sector, which was 31% of the total, was up 3.2% ending the quarter with $889.3 million.

Cost of sales on a normalized basis, as a percentage of the revenue, was down from 64.5% during the same period last year to 63.5%.

Gross margin increased slightly to 36.5%.

Administrative, general and sales expense edged higher by 0.7% from year to year, while it decreased when compared as a percentage of revenue to 22.8%. The operating margin increased to end the quarter at 13.7%.

Cash and its equivalents were up at the end of the quarter by 19% to over $515. 6 million compared to $432.5 million during the same period one year ago.

The company generated cash flow of more than $437.2 million from operating activities, which was 137% higher than the same period last year.

Software and capital expenditures reached $61.4 million, which was down 23% from last year’s $80 million.

The toolmaker increased its guidance for 2014. Currently per share earnings excluding one-off charges, have been projected at between $5.50 and $5.60 against a projection previously of between $5.35 and $5.50.

The revision up was attributed to an expectation of the industrial sector having strong performance and strict measures of cost control being implemented.

 

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