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Stanley Black & Decker: Q1 Earnings Snapshot
By AP News - May 04, 2023, 06:18 AM ET
Last Updated - Jun 21, 2023, 11:00 PM EDT
NEW BRITAIN, Conn. (AP) — NEW BRITAIN, Conn. (AP) — Stanley Black & Decker Inc. (SWK) on Thursday reported a loss of $187.8 million in its first quarter.
On a per-share basis, the New Britain, Connecticut-based company said it had a loss of $1.26. Losses, adjusted for costs related to mergers and acquisitions, were 41 cents per share.
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The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 73 cents per share.
The tool company posted revenue of $3.93 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $4 billion.
Stanley Black & Decker expects full-year results to range from a loss of $1.65 per share to earnings of $2 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a SWK">Zacks stock report on SWK at https://www.zacks.com/ap/SWK
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