iStock.com/Wolterk
NEW BRITAIN, Conn. (AP) — Stanley Black & Decker Inc. on Tuesday reported third-quarter earnings of $91.1 million.
The Connecticut-based tool company said it had net income of 60 cents per share. Earnings, adjusted for non-recurring costs, came to $1.22 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The company posted revenue of $3.75 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $3.78 billion.
Stanley Black & Decker expects full-year earnings in the range of $3.90 to $4.30 per share.