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Stanley Black & Decker Reports Q1 2022 Results
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2022-06-13
Stanley Black & Decker (NYSE: SWK) announced their first quarter 2022 financial results:
- First Quarter Revenues Of $4.4 Billion, Up 20% Versus Prior Year, Led By Acquisitions In Outdoor Power Equipment And Price Realization
- First Quarter Diluted GAAP EPS Was $0.94; Excluding Charges, Adjusted Diluted EPS* Was $2.10
- Full Year 2022 Total Revenue Growth Is Expected To Be In The Mid-Twenties Year-Over-Year
- Updating Full Year 2022 Diluted GAAP EPS Guidance Range To $7.20 - $8.30 (From $10.10 - $10.70); Adjusted Diluted EPS* To $9.50 - $10.50 (From $12.00 - $12.50); Free Cash Flow To Approximate $1.0 - $1.5 Billion
- Made Substantial Progress Toward $4 Billion Share Repurchase Program, Initiating $2 Billion Accelerated Share Repurchase And Completed $0.3 Billion Open-Market Repurchase
"Stanley Black & Decker capitalized on the strong demand environment, our recent strategic acquisitions in the fast-growing outdoor power equipment market and a 5% contribution from pricing to drive 20% quarterly revenue growth as well as higher sequential margins," said Stanley Black & Decker CEO Jim Loree.
"We continue to strengthen our number one position in tools and are strategically focusing our portfolio for sustained growth, scale and efficiencies. Our announced Security divestitures enabled $2.3 billion of share repurchases in the first quarter, at a compelling value, which represents substantial progress against our $4 billion share repurchase program."
"I want to thank the organization for their agility and efforts as they successfully deliver strong day-to-day operational execution, inventory management and pricing realization in 2022. While inflationary pressures remain a macro headwind, we have demonstrated our ability to offset those pressures. We continue to invest in leading edge product innovation, strategic growth initiatives and capacity expansions to better serve our customers to enable a multi-year runway for growth, margin expansion and long-term shareholder value creation," concluded Loree.
Stanley Black & Decker
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financial
Q1
2022
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