Stanley Black & Decker (SWK) Tops Q2 EPS by 12c; CEO Lundgren to Reitre
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Stanley Black & Decker Announces CEO Transition
July 22, 2016 6:01 AM EDTNEW BRITAIN, Conn., July 22, 2016 /PRNewswire/ -- The Board of Directors of Stanley Black & Decker (NYSE: SWK) today announced that Chairman and Chief Executive Officer John F. Lundgren, who will turn 65 in September, will retire as CEO after more than 12 years with the Company, effective July 31, 2016. Mr. Lundgren will continue as Chairman of the Board until the end of the year and serve as Special Advisor to the Company through April 30, 2017. James M. Loree, currently President and Chief Operating Officer, will succeed Mr. Lundgren as President and CEO on August 1,... More
Stanley Black & Decker Reports 2Q 2016 Results
July 22, 2016 6:00 AM EDTNEW BRITAIN, Conn., July 22, 2016 /PRNewswire/ --Â Stanley Black & Decker (NYSE: SWK) today announced second quarter 2016 financial results.
2Q'16 Revenues Totaled $2.9 Billion, Up 2% Versus Prior Year, Fueled By 4% Organic Growth 2Q'16 Operating Margin Rate Expanded 140 Basis Points To A Post-Merger Record 15.8% Despite Significant Currency Headwinds 2Q'16 Diluted EPS Was $1.84, Up 19% From 2Q'15 As Strong Operational Performance Combined With A Lower Share Count More Than Offset Currency Headwinds Raising 2016 Full Year Diluted EPS Guidance Range To $6.30 - $6.50 (Up 6% - 10% Versus 2015) From $6.20 - $6.40, Due To Higher Organic Growth... More