Stanley Black & Decker Inc. (SWK) on Wednesday reported first-quarter profit of $169.9 million.
On a per-share basis, the New Britain, Connecticut-based company said it had net income of $1.13. Earnings, adjusted for costs related to mergers and acquisitions, were $1.42 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The tool company posted revenue of $3.33 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $3.31 billion.
Stanley Black & Decker expects full-year earnings in the range of $8.50 to $8.70 per share.
Stanley Black & Decker shares have climbed 23 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 17 percent. The stock has increased slightly more than 3 percent in the last 12 months.
