NEW BRITAIN, Conn. (AP) — Stanley Black & Decker Inc. on Tuesday reported second-quarter earnings of $177 million.
On a per-share basis, the company said it had net income of $1.18. Losses, adjusted for gains related to mergers and acquisitions, were 11 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.
The tool company posted revenue of $4.16 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $4.12 billion.
Stanley Black & Decker expects full-year earnings in the range of 70 cents to $1.30 per share.