Stanley Black & Decker stock bounces off 5-month low after big earnings beat, raised outlook

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.

Shares of Stanley Black & Decker Inc. SWK, -0.03% jumped 2.1% in premarket trading Friday to bounce off a five-month low, after the tools maker reported third-quarter profit that was well above expectations and raised the full-year outlook, as cost cutting provided a boost. Net income dropped to $4.7 million, or 3 cents a share, from $844.6 million, or $5.50 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.

99 billion, as sales for the company’s tools and outdoor and industrial businesses both fell 4%. For 2023, the company raised its guidance range for adjusted EPS to $1.10 to $1.40 from 70 cents to $1.30. “We are creating strong momentum with our cost reduction program, delivering $880 million in inventory reduction and $675 million of pre-tax run-rate cost savings year-to-date, both ahead of our initial plans,” said Chief Financial Officer Patrick Hallinan. The stock has dropped 21.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 3. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Morgan Stanley names Ted Pick as investment bank's next CEO, succeeding James GormanBank veteran Ted Pick will become the next CEO of Morgan Stanley. Pick will succeed Morgan Stanley’s long-time CEO James Gorman effective Jan. 1. And Gorman, who announced his plans to step down in May, will remain at the Wall Street bank as executive chairman of the board. Pick has served as co-president of Morgan Stanley for the past two years.
출처: AP - 🏆 728. / 51 더 많은 것을 읽으십시오 »