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Stanley Black & Decker: Q2 2022 Earnings Update

Industry: Industrial Goods & Machinery
Current: Company Performance

Stanley Black & Decker reported growth in revenues of 16% year-over-year in Q2 2022
Stanley Black & Decker reported GAAP diluted earnings per share (EPS) of $0.51
Stanley Black & Decker revised its EPS guidance but maintained its full-year cash flow guidance

On July 28, 2022, Stanley Black & Decker reported Q2 revenues of $4.39 billion (a growth of 15.6% year-over-year) on adjusted diluted earnings per share (EPS) of $1.77.

Summary: Stanley Black & Decker’s Q2 2022 revenues grew by 15.6% as compared to the same period in 2021. Stanley Black & Decker reports its revenues across two segments: Tools & Outdoor and Industrial.

Tools & Outdoor segment’s revenues grew by 17.2% vs 2021 owing to the acquisitions of MTD Holdings and Excel Industries (growth of 28%) and price increase (growth of 7%) but was partially offset by lower sales volume (a decline of 16%) and currency rates (a decline of 2%).
Industrial segment’s revenues grew by 7.6% vs 2021 owing to the price increase (a growth of 8%) and growth in sales volume (a growth of 4%) but was partially offset by currency rates (a decline of 4%).

The company reported earnings from operations of $4.39 billion during Q2 2022, resulting in GAAP operating margins of 8.1%. On the bottom line, the company reported a GAAP diluted EPS of $0.51, whereas the adjusted diluted earnings came to $1.77 per share.

Guidance: For 2022 the management has guided to:

Lowered its GAAP EPS outlook to a range of $0.80 - $2.05 from the earlier range of $7.20 - $8.30.
Non-GAAP adjusted EPS outlook lowered to a range of $5.00 - $6.00 from the earlier guided range of $9.50 - $10.50.

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