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Stanley Black & Decker Reveals Fall In Q2 Bottom Line; Trims 2022 Earnings Outlook - Update

(Adds Outlook)

Stanley Black & Decker, Inc. (SWK) reported a profit for second quarter that decreased from last year

The company's bottom line totaled $87.6 million, or $0.57 per share. This compares with $459.5 million, or $2.75 per share, in last year's second quarter.

Excluding items, Stanley Black & Decker, Inc. reported adjusted earnings of $274.6 million or $1.77 per share for the period.

The company's revenue for the quarter rose 15.5% to $4.39 billion from $3.80 billion last year.

Outlook:

The company revised down its 2022 net earnings guidance to $0.80-$2.05 from $7.20-$8.30 provided earlier. Earnings guidance, excluding items, are lowered to $5.00-$6.00 per share from $9.50-$10.50 per share.

The company cited lower second -half revenue on slowing consumer demand in n Tools & Outdoor and moderated price expectations and currency translation for the lower outlook for the fiscal.

Stanley Black & Decker, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $87.6 Mln. vs. $459.5 Mln. last year.
-EPS (Q2): $0.57 vs. $2.75 last year.
-Revenue (Q2): $4.39 Bln vs. $3.80 Bln last year.

-Guidance:
Full year EPS guidance: $5.00 to $6.00

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