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Stanley Black & Decker Lifts 2019 Profit View

Stanley Black & Decker (SWK) raised its 2019 earnings per share outlook to $7.50 - $7.70 from $7.45 - $7.65 on a GAAP basis, and to $8.50 - $8.70 from $8.45 - $8.65 on an adjusted basis, reflecting incremental organic growth and cost control realized in the first quarter more than offset an incremental $20 million headwind from foreign currency. Analysts polled by Thomson Reuters expect the company to report earnings of $8.53 per share for 2019. Analysts' estimates typically exclude special items.

The company reiterated its free cash flow conversion estimate of bout 85% - 90%.

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