Manufacturing company Stanley Black & Decker (NYSE:SWK) will be announcing earnings results tomorrow before the bell. Here’s what to expect.
Stanley Black & Decker met analysts’ revenue expectations last quarter, reporting revenues of $4.02 billion, down 3.2% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ earnings and EBITDA estimates.
Is Stanley Black & Decker a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Stanley Black & Decker’s revenue to decline 3.8% year on year to $3.80 billion, in line with the 4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.05 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Stanley Black & Decker has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Stanley Black & Decker’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Snap-on posted flat year-on-year revenue, beating analysts’ expectations by 7.8%, and John Bean reported revenues up 12.4%, topping estimates by 2.6%. Snap-on traded up 9.4% following the results while John Bean was also up 17.8%.
Read our full analysis of Snap-on’s results here and John Bean’s results here.
Investors in the industrial machinery segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month. Stanley Black & Decker is down 7.4% during the same time and is heading into earnings with an average analyst price target of $110.42 (compared to the current share price of $101.98).
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