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$SWK (-2,49%) | Stanley Black & Decker Q3'24 Earnings Highlights:


๐Ÿ”น Adjusted EPS: $1.22 (Est. $1.05) ๐ŸŸข

๐Ÿ”น Revenue: $3.75B (Est. $3.8B) ๐Ÿ”ด; DOWN -5% YoY

๐Ÿ”ธ Adj Gross Margin: 30.5% (Up 290bps YoY)


Narrows FY24 Guidance:

๐Ÿ”น Adjusted EPS: $3.90-$4.30 (Est. $4.20) ๐ŸŸก

๐Ÿ”น GAAP EPS: $1.15-$1.75 (Prev. $0.90-$2.00)

๐Ÿ”น Free Cash Flow: $650M-$850M (Reiterated)


Q3 SEGMENTS:

Tools & Outdoor:

๐Ÿ”น Sales: $3.26B; DOWN -3% YoY

๐Ÿ”ธ Organic Revenue: DOWN -2% (North America: -4%, Europe: +1%, Rest of World: +6%)

๐Ÿ”ธ Adjusted Segment Margin: 11.1% (Up 180bps YoY)

๐Ÿ”ธ Growth in DEWALT offset by weak consumer and DIY demand.


Industrial:

๐Ÿ”น Sales: $488M; DOWN -18% YoY

๐Ÿ”ธ Organic Revenue: DOWN -1%

๐Ÿ”ธ Adjusted Segment Margin: 13.9% (Up 170bps YoY)

๐Ÿ”ธ Aerospace growth offset by weakness in automotive markets.


Financial Metrics:

๐Ÿ”น Operating Cash Flow: $286M

๐Ÿ”น Free Cash Flow: $200M

๐Ÿ”น SG&A Expenses: 21.2% of sales (vs. 20.1% prior year)

๐Ÿ”ธ Adjusted SG&A Expenses: 20.8% (vs. 19.3% prior year)


Strategic Initiatives:

๐Ÿ”ธ Executing a Global Cost Reduction Program, targeting $2 billion in pre-tax cost savings by 2025, with $1.5 billion from supply chain improvements.

๐Ÿ”ธ Achieved $105M of cost savings in Q3, contributing to cumulative $1.4B savings since program inception.

๐Ÿ”ธ Supply Chain Transformation improving margins and supporting growth investments.

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