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Stanley Black & Decker, Inc. Message Board

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  • Stanley Black & Decker Reports 3Q 2014 Results


    Business Wire
    Stanley Black & Decker
    October 22, 2014 6:00 AM


    Stanley Black & Decker (SWK) today announced third quarter 2014 financial results.
    • 3Q’14 Revenues Up 5% To $2.9 Billion; Organic Growth Of 6%
    • Operating Margin Expanded 230 Basis Points To 13.8%; Excluding Charges, Operating Margin Expanded 120 Basis Points To 14.1%
    • 3Q’14 Diluted GAAP EPS Was $1.50; Excluding Charges, 3Q’14 Diluted EPS Was $1.55
    • CDIY Achieved 10% Organic Growth; Record Operating Margin Of 16.5%, Excluding Charges
    • Increasing 2014 Full Year Free Cash Flow Guidance To Approximately $800 Million From At Least $675 Million
    • Reiterating Mid-Point While Tightening 2014 Full Year EPS Guidance Range Of $5.40 To $5.46 On A GAAP Basis ($5.52 To $5.58, Excluding Charges)

    3Q’14 Key Points:
    • Net sales for the period were $2.9 billion, up 5% versus the prior year, primarily attributable to volume (+5%) and price (+1%), partially offset by currency (-1%).
    • The gross margin rate for the quarter was 36.2%. Excluding charges the gross margin rate was also 36.2%, up 20 basis points from the prior year rate of 36.0%, as favorable volume, price, productivity and cost actions more than offset unfavorable currency and lower Security margins.
    • SG&A expenses were 22.4% of sales. Excluding charges, SG&A expenses were 22.1% of sales, compared to 23.1% in 3Q’13.
    • Operating margin rate was 13.8%. Excluding charges, operating margin rate was 14.1%, up 120 basis points from 3Q’13, as actions taken to improve profitability and generate operating leverage more than offset slightly higher than expected unfavorable currency.
    • The tax rate was 19.1%. Excluding charges, the tax rate was 18.8% due to a larger portion of earnings in lower taxed jurisdictions and changes in required foreign tax reserves due to statute expirations.

    Sentiment: Buy

97.36+0.04(+0.04%)Dec 24 1:02 PMEST

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