Stanley Black & Decker Inc. reported second-quarter earnings of $293.6 million today.
The New Britain-based company said it had net income of $1.93 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $2.57 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.
The tool company posted revenue of $3.64 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $3.49 billion.
Stanley Black & Decker expects full-year earnings in the range of $8.30 to $8.50 per share.
Stanley Black & Decker shares have dropped 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 5 percent. The stock has fallen 5.5 percent in the last 12 months.




