Stanley Black & Decker nails down solid Q2

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Stanley Black & Decker nails down solid Q2

By HBSDealer Staff - 07/23/2019
Stanley Black & Decker reported second quarter net sales increased 3% to $3.8 billion from net sales of $3.6 billion for the same period a year ago.

Sales for the first six months of 2019 increased nearly 3% to $7.1 billion from sales of $6.9 billion for the first half of 2018.

The New Britain, Conn.-based tools and security manufacturer also reported second quarter net earnings of $357.4 million, soaring nearly 22% from net earnings of $293.4 million for the corresponding period a year in 2018. Net earnings for the first half of 2019 rose 14% to $527.8 million.

Sales in tools and storage products grew 2% to $2.6 billion for the quarter. Industrial sales increased 13% to $650 million while security sales declined 3% to $485 million.

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The bottom line: Sales rise 3% to $3.8 billion in the second quarter as profits jump 22% to $357.4 million.

What the CEO said:  "Our seasoned management team is operating with agility and leveraging our SFS 2.0 operating system to successfully navigate a dynamic operating environment, and pursue our vision: to become known as one of the world's leading innovators, deliver top-quartile financial performance and elevate our commitment to corporate social responsibility," said James Loree, president and CEO of Stanley Black & Decker. 

Company info: Stanley Black & Decker’s full second quarter 2019 report can be read here

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