Stanley Black & Decker Guides FY23 Above Estimates - Update
(RTTNews) - While reporting financial results for the fourth quarter on Thursday, Stanley Black & Decker (SWK) initiated its earnings and adjusted earnings outlook for the full-year 2023, above analysts' estimates.
For fiscal 2023, the company now projects results between a loss of $1.65 and earnings of $0.85 per share and adjusted earnings in a range of $0.00 To $2.00 per share.
On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.31 per share for the year. Analysts' estimates typically exclude special items.
The company said the difference between 2023 reported and adjusted guidance consists of integration-related charges and other charges primarily due to supply chain transformation under the Global Cost Reduction Program.
The guidance band reflects the wider range of 2023 demand possibilities and destocking scenarios with a loss per share is expected in the front half as the Company prioritizes free cash flow generation. The company expects the impact of targeted production curtailments to continue to weigh on margins through the first half of 2023.
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