Strong Q3 for Stanley Black & Decker

Stanley Black & Decker, the New Britain, Conn.-based tool maker, reported 3Q 2017 revenue of $3.3 billion, up 14% compared to 3Q 2016. Organic growth accounted for 7% of the revenue increase.

Net earnings for the quarter increased to $274.2 million from net earnings of $249 million during the same period a year ago.

Tools and storage net sales increased 22% versus 3Q 2016 as acquisitions (+13%), volume (+9%) and currency (+1%) offset divestitures (-1%), the company said. 

Stanley Black & Decker, the New Britain, Conn.-based tool maker, reported 3Q 2017 revenue of $3.3 billion, up 14% compared to 3Q 2016. Organic growth accounted for 7% of the revenue increase.

Net earnings for the quarter increased to $274.2 million from net earnings of $249 million during the same period a year ago.

Tools and storage net sales increased 22% versus 3Q 2016 as acquisitions (+13%), volume (+9%) and currency (+1%) offset divestitures (-1%), the company said. 

Industrial net sales increased 9% for the quarter due to volume (+8%) and currency (+1%). Security net sales decreased 9% versus 3Q 2016 as currency (+2%) and small, bolt-on commercial electronic security acquisitions (+3%) were more than offset by the sale of the mechanical security business (-14%).

“Tools and storage led the way with 9% organic growth on strong, innovation-fueled operational execution and generally supportive markets around the world,” James Loree, president and CEO of Stanley Black & Decker, said in a prepared statement.

Looking ahead, Loree said Stanley Black & Decker’s tools division, “continues to benefit from a series of growth catalysts including DC brushless, FlexVolt, the Newell Tools acquisition and beginning in mid-2018, the Craftsman brand.”