NEW BRITAIN, Conn. (AP) — Stanley Black & Decker Inc. on Thursday reported a loss of $304.4 million in its fourth quarter.
The Connecticut-based tool company said it had a loss of $2.03 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 92 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The company posted revenue of $3.74 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $3.86 billion.
For the year, the company reported a loss of $310.5 million, or $2.07 per share. Revenue was reported as $15.78 billion.
Stanley Black & Decker expects full-year earnings in the range of $3.50 to $4.50 per share.
