January 22, 2019

Stanley's 4Q, '18 net slide

PHOTO | Robert Benson Photography
PHOTO | Robert Benson Photography
Stanley Black & Decker's New Britain headquarters.

New Britain hand- and power-tool maker Stanley Black & Decker's fourth-quarter profits ran red on its way to lower 2018 earnings despite strong sales.

For three months ended Dec. 31, Stanley said Tuesday it lost a net $66.7 million, or 45 cents a diluted share, vs. $645.3 million, or $1.84 a share, netted in the final quarter of 2017.

Fourth-quarter sales grew to $3.6 billion vs. $3.5 billion a year earlier.

For the year, Stanley's net plummeted to $645.3 million, or $4.26 a diluted share, in 2018 vs. $1.2 billion, or $8.05 a share, earned in 2017.

Full-year sales climbed to $14 billion last year vs. $13 billion a year earlier.

Stanley said its 2019 outlook is per-share growth of 4 percent to 6 percent, coming in between $8.45 to $8.65 a share on an adjusted basis.

Read more

Stanley: Tariffs, other headwinds mean CT layoffs as part of $250M in cost cuts

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

Today's Poll Would renaming Bradley Airport make the airfield more marketable?<>
Most Popular on Facebook
Copyright 2017 New England Business Media