Stanley Black & Decker Reports 1Q 2020 Results and Details $1 Billion Cost Reduction and Efficiency Program
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Stanley Black & Decker (SWK) Tops Q1 EPS by 10c, Revenues Miss; Maintains Guidance Suspension, 'Expects 2Q to be Trough for FY20 Revenue Decline'
April 30, 2020 6:09 AM EDTStanley Black & Decker (NYSE: SWK) reported Q1 EPS of $1.20, $0.10 better than the analyst estimate of $1.10. Revenue for the quarter came in at $3.1 billion versus the consensus estimate of $3.25 billion.
1Q'20 Revenues Totaled $3.1 Billion, Down 6% Versus Prior Year, With A 7% Organic Decline Primarily Related To Impacts From COVID-191Q'20 Diluted GAAP EPS Was $0.88; Excluding Charges, 1Q'20 Diluted EPS Was $1.20, Reflecting $60 Million In External Headwinds And Coronavirus Related Volume Declines Partially Offset By Margin Resiliency ActionsRecently Announced Cost Reduction Program Expected To Deliver $1 Billion In Annualized Savings With $500 Million In... More