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Stanley Black & Decker 2018 EPS lowered in 10-K filing after IPS Worldwide-related charge

Tomi Kilgore

Stanley Black & Decker Inc. filed Tuesday its 10-K annual report with the Securities and Exchange Commission, that showed 2018 earnings per share that was lower than the unaudited fourth-quarter report the tools maker released last month. The company did say last week that it will book a $50 million charge on 2018 net earnings due to the bankruptcy of IPS Worldwide LLC, the third-party provider of freight payment processing services that listed Stanley Black & Decker as a creditor. In the 10-K, the company said it recorded a $50.8 million charge to fourth-quarter results. The 10-K said 2018 net income was $605.2 million, or $3.99 a share, while in the Q4 report 2018 net income was $645 million, or $4.26 a share; 2017 net income remained as $1.23 billion, or $8.05 a share. The stock has gained 6.6% over the past three months, while the S&P 500 has tacked on 4.6%.