Stanley Black & Decker Q3 Earnings: Revenue Misses, Cost Savings Drive Margin Gains, Narrows 2024 EPS Guidance & More

Stanley Black & Decker Inc (NYSE:SWK) shares are trading lower after the company reported mixed third-quarter results and narrowed its 2024 guidance.

SWK reported a third-quarter sales decline of 5.2% year over year to $3.751 billion, missing the consensus estimate of $3.804 billion.

Revenue declined as DEWALT growth was offset by mixed-end market demand; infrastructure divestiture impacted revenue growth by -2%.

Gross profit increased 5.7% to $1.12 billion, and the gross margin expanded by 310 basis points to 29.9%. The adjusted gross margin was 30.5%, up 290 bps YoY.

Profit from ...