The company said that net sales for Q3 2024 were $3.751 billion, down 5% from $3.954 billion a year earlier. Gross profit was $1.121 billion, or 29.9% of net sales, compared with 26.8% a year earlier.

1. 01

   The company said that net sales for Q3 2024 were $3.751 billion, down 5% from $3.954 billion a year earlier. Gross profit was $1.121 billion, or 29.9% of net sales, compared with 26.8% a year earlier.

2. 02

   Stanley Black & Decker said it achieved pre-tax run-rate savings of about $400 million from the Global Cost Reduction Program in the first 9 months of 2024 and about $1.4 billion since the program began. The company said inventory was reduced by about $2.0 billion since the end of Q2 2022.

3. 03

   The company said it recorded a non-cash pre-tax impairment charge of $41.0 million on the Lenox trade name in Q3 2024. It said the carrying value of the Lenox trade name after the impairment is $115.0 million and that it plans to continue using the trade name.

4. 04

   The company said it expects diluted earnings per share for 2024 to approximate $1.15 to $1.75 on a GAAP basis and $3.90 to $4.30 excluding Non-GAAP adjustments. It said it is reiterating its 2024 free cash flow target of $650 million to $850 million.

Key figures

Quarter ended September 28, 2024

Revenue

$3.8B

Operating income

$398M

Net income

$91M

EPS

$0.60

Operating cash flow

$286M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.