Stanley Black & Decker (NYSE:SWK) stock got a boost on Friday after releasing its earnings report for the second quarter of 2018.
Stanley Black & Decker’s earnings report for the second quarter of the year includes earnings per share of $2.57. This is up from the company’s earnings per share of $2.02 that was reported in the second quarter of 2017. It was also a boon to SWK stock by coming in above Wall Street’s earnings per share estimate of $2.02 for the quarter.
Net income reported by Stanley Black & Decker for the second quarter of 2018 came in at $293.40 million. This is an increase over SWK’s net income of $277.60 million that was reported in the same period of the year prior.
During the second quarter of the year, Stanley Black & Decker also reported operating income of $347.80 million. The company’s operating income from the second quarter of the previous year was $404.60 million.
Stanley Black & Decker also reported revenue of $3.64 billion for the second quarter of 2018. This is better than its revenue of $3.29 billion that was reported during the same time last year. It was also good news for SWK stock by beating out analysts’ revenue estimate of $3.49 billion for the period.
The most recent earnings report from Stanley Black & Decker also has it reiterating its earnings per share outlook for the full year of 2018. The company is still expecting earnings per share for the year to range from $8.30 to $8.50. Wall Street is looking for earnings per share of $8.38 for the year.
SWK stock was up 3% as of noon Friday, but is down 17% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.