Stanley Black & Decker said revenue for Q3 2024 was $3.8 billion, down 5% from a year earlier. The company said price gains of +1% were offset by lower volume of -3%, currency of -1%, and the Infrastructure divestiture of -2%.

1. 01

   Stanley Black & Decker said revenue for Q3 2024 was $3.8 billion, down 5% from a year earlier. The company said price gains of +1% were offset by lower volume of -3%, currency of -1%, and the Infrastructure divestiture of -2%.

2. 02

   The company said third quarter gross margin for Q3 was 29.9%, up 310 basis points from 26.8% a year earlier, and adjusted gross margin was 30.5%, up 290 basis points from the prior year. It cited the supply chain transformation as the main driver of the adjusted gross margin increase.

3. 03

   The company said cash from operating activities for Q3 was $286 million, and free cash flow was approximately $200 million. It said this free cash flow contributed to approximately $100 million of debt reduction in Q3.

4. 04

   The company said it narrowed its full-year 2024 GAAP EPS guidance range to $0.90 to $1.15 from $2.00 to $1.75, and its adjusted EPS range to $3.70 to $3.90 from $4.50 to $4.30. It reiterated free cash flow of approximately $650 million to $850 million.

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Original filing

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