Stanley Black & Decker sales up 11% for Q2
Tool manufacturer Stanley Black & Decker reported second quarter 2018 sales of $3.6 billion, rising 11% from sales of $3.3 billion in the second quarter 2017.
The New Britain, Conn.-based company also reported net earnings of $293.4 million for the quarter, rising nearly 6% from net earnings of $227.6 million for the same period last year.
"We delivered a strong second quarter performance, successfully overcoming approximately $70 million of commodity and currency pressure,” said James Loree, president and CEO of Stanley Black & Decker.
Tools and storage net sales increased 11% for the quarter including a 9% increase in volume. Industrial net sales rose 14% for the quarter while sales in the company’s security division rose 6%.
During the quarter Stanley Black & Decker had mergers and acquisition-related charges of nearly $127 million. The charges were primarily related to restructuring, deal, and integration costs, the company said.
The New Britain, Conn.-based company also reported net earnings of $293.4 million for the quarter, rising nearly 6% from net earnings of $227.6 million for the same period last year.
"We delivered a strong second quarter performance, successfully overcoming approximately $70 million of commodity and currency pressure,” said James Loree, president and CEO of Stanley Black & Decker.
Tools and storage net sales increased 11% for the quarter including a 9% increase in volume. Industrial net sales rose 14% for the quarter while sales in the company’s security division rose 6%.
During the quarter Stanley Black & Decker had mergers and acquisition-related charges of nearly $127 million. The charges were primarily related to restructuring, deal, and integration costs, the company said.