Stanley Black & Decker: Q1 Earnings Snapshot
By AP News
Published - 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.
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.
