Stanley Black & Decker Q1 Sales Grow, Industrial Dips 5%

The company said engineered fastening organic sales dipped 4 percent as expected due to lower volume.

Id 15691 Stanleya

Stanley Black & Decker recently reported its 2015 first quarter fiscal performance, led by a modest year-over-year increase in total sales and a significant jump in profit.

The New Britain, CT-based manufacturer had Q1 total sales of $2.7 billion, up 1.6 percent from a year earlier, with organic sales up approximately 5 percent. Meanwhile, Q1 profit of $189.4 million was a 16.7 percent increase.

The company said the total sales increase was primarily due to a growth of 4 percentage points in volume and a 1-point in price, more than offsetting a negative 3-point impact from foreign currency exchange.

By business segment:

Tools & Storage Q1 total sales of $1.71 billion increased 4 percent year-over-year, with organic sales up 8 percent. Organic sales were up 10 percent in North America.

Security Q1 total sales of $504 million decreased 1 percent from a year ago, with organic sales down 1 percent in North America and up 3 percent in Europe.

Industrial Q1 sales of $461 million decreased 5 percent from a year ago. Stanley Black & Decker said engineered fastening organic sales dipped 4 percent as expected to due lower volume. Infrastructure organic sales were flat, in which the company said higher oil & gas volumes from increased onshore activity offset lower hydraulic tools volumes.

In its 2016 full-year outlook, the company raised its organic growth estimate from ~3 to 3-4 percent

Id 15696 Stanley
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