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Stanley Black & Decker, Inc. (SWK) Stock Climbs on Q1 Earnings Beat

SWK has also raised its EPS outlook for the year

   

Stanley Black & Decker, Inc. (NYSE:SWK) stock was up on Friday following the release of its earnings report for the first quarter of 2017.

Stanley Black & Decker, Inc. (SWK) Stock Climbs on Q1 Earnings BeatDuring the first quarter of the year, Stanley Black & Decker, Inc. reported earnings per share of $1.29. This is a one penny increase over the earnings per share of $1.28 from the same time last year. It also beat out Wall Street’s earnings per share estimate of $1.20 for the quarter.

Stanley Black & Decker, Inc. reported revenue of $2.81 billion during its first quarter of 2017. This is an increase over its revenue of $2.67 billion that was reported in the first quarter of 2016. It also came in above analysts’ revenue estimate of $2.75 billion for the first quarter of the year.

Operating income reported by Stanley Black & Decker, Inc. during the first quarter of 2017 was $380.60 million. This is up from its operating income of $349.80 million that was reported during the same period of the year prior.

Stanley Black & Decker, Inc. reported net income of $393.10 million in the first quarter of the year. The tool company reported net income of $188.60 million during the first quarter of the previous year.

Stanley Black & Decker, Inc. also announced an update to its full year 2017 guidance in its most recent earnings report. It now expects earnings per share for the year to range from $7.08 to $7.28. The previous guidance had 2017 earnings per share falling between $6.98 and $7.18. Wall Street is expecting SWK to report earnings per share of $7.11 for the year.

SWK stock was up 3% as of Friday afternoon and is up 19% year-to-date.


Article printed from InvestorPlace Media, http://investorplace.com/2017/04/stanley-black-decker-inc-swk/.

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