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

Earnings Press Release
10-Q Quarterly Report
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Stanley Black Decker, Inc.
Ticker: SWK CIK: 93556

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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