Stanley Black & Decker (SWK) to Restate Previously Issued Financial Statements
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Stanley Black & Decker to Restate Previously Issued Financial Statements
January 26, 2022 5:23 PM ESTNEW BRITAIN, Conn., Jan. 26, 2022 /PRNewswire/ --Â Stanley Black & Decker (NYSE: SWK) (the "Company") today announced that it plans to restate its previously issued consolidated financial statements to correct its accounting with respect to its Equity Units in response to comments received from the Securities and Exchange Commission (the "SEC").
After giving effect to this change, the Company's diluted GAAP earnings per share is reduced by $0.31, $0.24, and $0.14 for the fiscal years ended January 2, 2021, December 28, 2019 and December 29, 2018, respectively. Excluding acquisition-related and other charges, the Company's diluted earnings per share is reduced by $0.36, $0.31 and $0.27 for the... More
