Stanley Black & Decker beats by $0.06, beats on revs; raises FY14 EPS in-line
Reports Q1 (Mar) earnings of $1.02 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.96; revenues rose 6.6% year/year to $2.64 bln vs the $2.6 bln consensus.
Financial metrics:
Co issues in-line guidance for FY14, sees EPS of $5.35-5.50, excluding non-recurring items, vs. $5.43 Capital IQ Consensus Estimate and above prior guidance of $5.23-5.38
Financial metrics:
- Net sales for the period were $2.6 billion, up 7% versus the prior year, attributable to volume (+4%) and acquisitions (+4%), partially offset by currency (-1%). Price was relatively flat for the quarter.
- The gross margin rate for the quarter was 36.4%.
- Operating margin was 11.8% of sales. Excluding charges, operating margin was 12.1% of sales, up 30 basis points from the 1Q'13 operating margin of 11.8%.
Co issues in-line guidance for FY14, sees EPS of $5.35-5.50, excluding non-recurring items, vs. $5.43 Capital IQ Consensus Estimate and above prior guidance of $5.23-5.38