Stanley Black & Decker, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 02, 2021
October 28, 2021 at 06:00 am EDT
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Stanley Black & Decker, Inc. reported earnings results for the third quarter and nine months ended October 02, 2021. For the third quarter, the company reported sales was USD 4,263.2 million compared to USD 3,850.2 million a year ago. Net income was USD 414.2 million compared to USD 394.9 million a year ago. Basic earnings per share from continuing operations was USD 2.6 compared to USD 2.47 a year ago. Diluted earnings per share from continuing operations was USD 2.56 compared to USD 2.44 a year ago.
For the nine months, sales was USD 12,761.2 million compared to USD 10,127 million a year ago. Net income was USD 1,361.1 million compared to USD 766.5 million a year ago. Basic earnings per share from continuing operations was USD 8.5 compared to USD 4.91 a year ago. Diluted earnings per share from continuing operations was USD 8.36 compared to USD 4.86 a year ago.
Stanley Black & Decker, Inc. specializes in the design, manufacturing and marketing of tools and engineering solutions for professional, industrial and construction and consumer use. Net sales break down by family of products as follows:
- electric tools and accessories (71.1%): tools and electric devices (drills wire, sanders, saws, grinders, batteries, etc.), garden tools (shears, cutting edge, trimmers, aerators , grinders, chainsaws, etc.), vacuum cleaners, lamps, lights, battery chargers, starter batteries, power converters, hand tools (measuring and leveling tools, planes, hammers, knives, blades, screwdrivers, saws, etc.), consumer mechanics tools (wrenches and sockets), plastic tool boxes, pneumatic tools and fasteners (nail guns, staplers, staples, etc.);
- industrial products (16.2%): professional and automotive mechanics tools (wrenches, sockets, electronic diagnostic tools, etc.), storage systems, plumbing, heating and air conditioning tools (pipe wrenches, pliers, tubing cutters, etc.), hydraulic tools, etc.;
- access and security products (12.7%): automatic doors, door closers, emergency exit devices, locking mechanisms, integrated security devices, etc.
Net sales are distributed geographically as follows: the United States (60.5%), Canada (4.7%), Americas (4.2%), France (4%), Europe (19.2%) and Asia (7.4%).