Stanley Black Decker, Inc. (SWK) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 29, 2018

Stanley Black Decker, Inc.

CIK: 93556 Ticker: SWK
Exhibit 99.1


Stanley Black & Decker Reports 3Q 2018 Results; Announces $250 Million Cost Reduction Program To Offset 2019 External Headwinds

New Britain, Connecticut, October 25, 2018
… Stanley Black & Decker (NYSE: SWK) today announced third quarter 2018 financial results.

3Q’18 Revenues Totaled $3.5 Billion, Up 4% Versus Prior Year, With Organic Growth Of 4%
3Q’18 Diluted GAAP EPS Was $1.65; Excluding Charges, 3Q’18 Diluted EPS Was $2.08, Up 6%, As Price, Cost Control And Volume Leverage More Than Offset $135 Million Of Commodity Inflation, Currency And Tariffs
Announcing New Cost Reduction Program Expected To Deliver $250 Million In Annual Cost Savings For 2019
Revising 2018 Full Year Diluted GAAP EPS Guidance Range To $5.90 - $6.00 from $7.00 - $7.20 And Adjusted EPS Guidance Range Of $8.10 - $8.20 from $8.30 - $8.50

3Q’18 Key Points:

Net sales for the quarter were $3.5 billion, up 4% versus prior year, as positive volume (+3%), acquisitions (+2%) and price (+1%) were partially offset by currency (-2%).
Gross margin rate for the quarter was 35.4%. Excluding charges, the gross margin rate was 35.5%, down 210 basis points from prior year as volume leverage, productivity and price were more than offset by external headwinds, including commodity inflation, foreign exchange and tariffs.

SG&A expenses were 22.9% of sales. Excluding charges, SG&A expenses were 21.0% of sales compared to 22.7% in 3Q’17, primarily reflecting prudent cost management.

Other, net totaled $59.4 million for the quarter. Excluding charges, Other, net totaled $51.0 million compared to $55.1 million in 3Q’17.

Restructuring charges for the quarter were $21.8 million. Excluding certain one-time charges, restructuring was $11.7 million for the quarter compared to $11.4 million in 3Q’17.


The following information was filed by Stanley Black Decker, Inc. (SWK) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Stanley Black Decker, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows Reconciliation Of Cash And Cash Equivalents
Consolidated Statements Of Operations And Comprehensive Income
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Changes In Aoci (Details)
Accumulated Other Comprehensive Loss - Reclassifications Out Of Aoci (Details)
Acquisitions - Additional Information (Detail)
Basis Of Presentation
Basis Of Presentation - Additional Information (Detail)
Business Segments
Business Segments (Detail)
Business Segments (Tables)
Business Segments - Additional Information (Detail)
Business Segments Business Segment And Geographic Area - Geographic Area (Details)
Changes In Carrying Amount Of Goodwill By Segment (Detail)
Changes In Carrying Amount Of Product And Service Warranties (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Components Of Inventories (Detail)
Components Of Net Periodic Benefit Cost (Detail)
Detail Pre-Tax Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) Into Earnings For Active Derivative Financial Instruments (Detail)
Details Of Foreign Exchange Contracts Pre-Tax Amounts (Detail)
Divestitures - Additional Information (Detail)
Divestitures - Operating Results Of Divested Businesses (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Detail)
Equity Arrangements
Equity Arrangements - Additional Information (Detail)
Estimated Fair Values Of Major Assets Acquired And Liabilities Assumed (Detail)
Fair Value Adjustments Relating To Swaps (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Detail)
Financial Guarantees (Detail)
Financial Instruments
Financial Instruments (Tables)
Financial Instruments - Additional Information (Detail)
Financing Receivables
Financing Receivables - Additional Information (Detail)
Goodwill (Tables)
Guarantees (Tables)
Guarantees - Additional Information (Detail)
Income Statement Impacts Related To Derivatives Not Designated As Hedging Instruments (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Inventories - Additional Informeation (Details)
Inventories (Tables)
Long-Term Debt And Financing Arrangements
Long-Term Debt And Financing Arrangements (Detail)
Long-Term Debt And Financing Arrangements (Tables)
Long-Term Debt And Financing Arrangements - Additional Information (Detail)
Net Periodic Benefit Cost - Defined Benefit Plans
Net Periodic Benefit Cost - Defined Benefit Plans (Tables)
New Accounting Standards
New Accounting Standards New Accounting Standards (Details)
Other Costs And Expenses
Other Costs And Expenses - Additional Information (Detail)
Reconciliation Of Net Earnings Attributable To Common Shareowners And Weighted-Average Shares Outstanding Used To Calculate Basic And Diluted Earnings Per Share (Detail)
Restructuring Charges
Restructuring Charges (Tables)
Restructuring Charges - Additional Information (Detail)
Summary Of Capped Call (Equity Options) Issued (Detail)
Summary Of Fair Value Of Derivatives (Detail)
Summary Of Financial Instruments Carrying And Fair Values (Detail)
Summary Of Restructuring Reserve Activity (Detail)
Summary Of Total Assets By Segment (Detail)
Supplemental Pro Forma Information Related To Business Acquisitions (Detail)
Weighted-Average Stock Options And Warrants Outstanding Not Included In Computation Of Diluted Shares Outstanding (Detail)

Material Contracts, Statements, Certifications & more

Stanley Black Decker, Inc. provided additional information to their SEC Filing as exhibits

Ticker: SWK
CIK: 93556
Form Type: 10-Q Quarterly Report
Accession Number: 0000093556-18-000040
Submitted to the SEC: Fri Oct 26 2018 6:50:41 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Saturday, September 29, 2018
Industry: Cutlery Handtools And General Hardware

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