$SWK (-0,12聽%) | Stanley Black & Decker Q3'24 Earnings Highlights:
馃敼 Adjusted EPS: $1.22 (Est. $1.05) 馃煝
馃敼 Revenue: $3.75B (Est. $3.8B) 馃敶; DOWN -5% YoY
馃敻 Adj Gross Margin: 30.5% (Up 290bps YoY)
Narrows FY24 Guidance:
馃敼 Adjusted EPS: $3.90-$4.30 (Est. $4.20) 馃煛
馃敼 GAAP EPS: $1.15-$1.75 (Prev. $0.90-$2.00)
馃敼 Free Cash Flow: $650M-$850M (Reiterated)
Q3 SEGMENTS:
Tools & Outdoor:
馃敼 Sales: $3.26B; DOWN -3% YoY
馃敻 Organic Revenue: DOWN -2% (North America: -4%, Europe: +1%, Rest of World: +6%)
馃敻 Adjusted Segment Margin: 11.1% (Up 180bps YoY)
馃敻 Growth in DEWALT offset by weak consumer and DIY demand.
Industrial:
馃敼 Sales: $488M; DOWN -18% YoY
馃敻 Organic Revenue: DOWN -1%
馃敻 Adjusted Segment Margin: 13.9% (Up 170bps YoY)
馃敻 Aerospace growth offset by weakness in automotive markets.
Financial Metrics:
馃敼 Operating Cash Flow: $286M
馃敼 Free Cash Flow: $200M
馃敼 SG&A Expenses: 21.2% of sales (vs. 20.1% prior year)
馃敻 Adjusted SG&A Expenses: 20.8% (vs. 19.3% prior year)
Strategic Initiatives:
馃敻 Executing a Global Cost Reduction Program, targeting $2 billion in pre-tax cost savings by 2025, with $1.5 billion from supply chain improvements.
馃敻 Achieved $105M of cost savings in Q3, contributing to cumulative $1.4B savings since program inception.
馃敻 Supply Chain Transformation improving margins and supporting growth investments.