Stanley Black & Decker Q4 sales rise 17%
<p>Stanley Black & Decker reported fourth quarter 2017 net sales of $3.4 billion, up 17% compared to net sales of $2.9 billion in the fourth quarter 2016.</p>
<p>For the full year, 2017 net sales increased 12% to $12.7 billion from $11.4 billion in the prior year.</p>
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Stanley Black & Decker reported fourth quarter 2017 net sales of $3.4 billion, up 17% compared to net sales of $2.9 billion in the fourth quarter 2016.
For the full year, 2017 net sales increased 12% to $12.7 billion from $11.4 billion in the prior year.
Sales in the Tools & Storage division increased 26% during the quarter, with acquisitions contributing 13% growth and sales volume increasing 12%. The tool, hardware, and security manufacturer reported that total fourth quarter sales included 8% organic growth.
Industrial sales increased 4% during the quarter but security net sales decreased 4% during the period as bolt-on commercial electronic security acquisitions, currency, and volume were offset by the sale of the company’s mechanical security business, Stanley Black & Decker reported.
Stanley Black & Decker also revealed that it has signed a letter of intent to acquire the industrial business of Nelson Fastener Systems for $440 million. Based in Elyria, Ohio, Nelson Fastener Systems recently had revenues of $200 million, according to Stanley. Nelson manufactures and distributes weld stud fasteners and application equipment for the construction and industrial markets.
Net earnings for the quarter increased nearly 10% to $281.1 million from net earnings of $255.8 million in the fourth quarter 2016, Stanley Black & Decker reported. For the full year, net earnings grew approximately 24% to $1.2 billion from $969 million in 2016.
“Stanley Black & Decker delivered an impressive 2017, with strong execution aligned with our SFS 2.0 operating system,” commented James Loree, Stanley Black & Decker, president and CEO. “We are expecting 2018 to be another strong year as our continued focus on SFS 2.0 and our solid growth pipeline position us to deliver sustained above-market organic growth with margin expansion.”
For the full year, 2017 net sales increased 12% to $12.7 billion from $11.4 billion in the prior year.
Sales in the Tools & Storage division increased 26% during the quarter, with acquisitions contributing 13% growth and sales volume increasing 12%. The tool, hardware, and security manufacturer reported that total fourth quarter sales included 8% organic growth.
Industrial sales increased 4% during the quarter but security net sales decreased 4% during the period as bolt-on commercial electronic security acquisitions, currency, and volume were offset by the sale of the company’s mechanical security business, Stanley Black & Decker reported.
Stanley Black & Decker also revealed that it has signed a letter of intent to acquire the industrial business of Nelson Fastener Systems for $440 million. Based in Elyria, Ohio, Nelson Fastener Systems recently had revenues of $200 million, according to Stanley. Nelson manufactures and distributes weld stud fasteners and application equipment for the construction and industrial markets.
Net earnings for the quarter increased nearly 10% to $281.1 million from net earnings of $255.8 million in the fourth quarter 2016, Stanley Black & Decker reported. For the full year, net earnings grew approximately 24% to $1.2 billion from $969 million in 2016.
“Stanley Black & Decker delivered an impressive 2017, with strong execution aligned with our SFS 2.0 operating system,” commented James Loree, Stanley Black & Decker, president and CEO. “We are expecting 2018 to be another strong year as our continued focus on SFS 2.0 and our solid growth pipeline position us to deliver sustained above-market organic growth with margin expansion.”
