Stanley Black & Decker sales up 14 percent
Stanley Black & Decker said its third-quarter revenues of $3.3 billion were up 14 percent compared to the same period last year.
Acquisitions accounted for 9 percent of the growth.
Net earnings of $274.2 million compared to earnings of $248.9 million in last year's third quarter.
Earnings per share of $1.80 compared to $1.63 in the same period last year.
"Tools and Storage led the way with 9% organic growth on strong, innovation-fueled operational execution and generally supportive markets around the world. Looking forward, our tools franchise continues to benefit from a series of growth catalysts including DC brushless, FlexVolt, the Newell Tools acquisition and beginning in mid-2018, the Craftsman brand," said James M. Loree, president and CEO.
Tools and Storage segment net sales increased 22 percent. Organic growth was strong across all regions with emerging markets up 16 percent, North America up 9 percent and Europe up 5 percent.
Industrial net sales increased 9 percent versus 3Q’16 due to volume (+8%) and currency (+1%).
Security net sales decreased 9% versus 3Q’16 as currency (+2%) and small, bolt-on commercial electronic security acquisitions (+3%) were more than offset by the sale of the Mechanical Security business (-14%). Europe.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
