Stanley Black & Decker Reports Net Loss of $187.8 Million in Q1 2023

Stanley Black & Decker, Inc.(SWK), a renowned global provider of di versified industrial tools and solutions, recently released its condensed consolidated financial statements for the three months ended April 1, 2023, and April 2, 2022. The report reveals a challenging quarter for the company, with a notable net loss and a decline in revenue compared to the previous year.

Net Income/Loss

During the first quarter of 2023, Stanley Black & Decker reported a net loss of $187.8 million. This is in stark contrast to the same period in 2022 when the company recorded net earnings from continuing operations of $155.6 million. The substantial decrease in net income reflects the challenges faced by the company in the current economic environment.

Revenue