Stanley Black & Decker (SWK) Tops Q1 EPS by 2c, Beats on Revenues; Offers FY18 EPS Mid-Point Outlook Below Consensus

Stanley Black & Decker (NYSE: SWK) reported Q1 EPS of $1.39, $0.02 better than the analyst estimate of $1.37. Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.1 billion.

• 1Q'18 Revenues Totaled $3.2 Billion, Up 12% Versus Prior Year, Fueled By 4% Organic Growth And 6% Growth From Acquisitions
• 1Q'18 Diluted GAAP EPS Was $1.11; Excluding M&A Related Charges, 1Q'18 Diluted EPS Was $1.39, Up 7% Versus Prior Year, As Strong Operational Performance, Acquisitions And Lower Expenses More Than Offset Commodity Inflation
• Successfully Completed Acquisition Of Nelson Fastener Systems For Approximately $440 Million In Cash On April 2
• Executed Equity Derivative Transaction To Lock Repurchase Pricing On 3.2 Million Shares Through March 2021
• Revising 2018 Full Year Diluted GAAP EPS Guidance Range To $7.40 - $7.60 From $7.80 - $8.00 Reflecting The Nelson Fastener Systems Acquisition And One-Time Tax Charge
• Reiterating Adjusted EPS Guidance Range Of $8.30 - $8.50 And Free Cash Flow Conversion Of Approximately 100%

Updated 2018 Outlook

Management is revising its 2018 EPS outlook to $7.40 - $7.60 from $7.80 - $8.00 on a GAAP basis reflecting the M&A related charges associated with the Nelson Fastener Systems acquisition and one-time tax charge. The Company is reiterating its adjusted EPS range of $8.30 - $8.50 and its free cash flow conversion estimate of approximately 100%.

GUIDANCE:

Stanley Black & Decker sees FY2018 EPS of $8.30-$8.50, versus the consensus of $8.43.

For earnings history and earnings-related data on Stanley Black & Decker (SWK) click here.

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