The 2020 Mid-Year Economic Update_long

Stanley Black & Decker Sales Flat in 2Q

Year-to-date sales up slightly compared to prior year.

Stanley Black & Decker (NYSE: SWK), New Britain, CT, reported sales for the second quarter of $2.9 billion, flat compared to the same period a year ago, with organic growth of 8 percent. Profit increased 4.9 percent to $227.2 million.

Tools & Storage sales increased 4 percent year-over-year to $1.8 billion, with organic growth up in North America (+14 percent), Europe (+7 percent) and emerging markets (+5 percent).

Sales in the industrial segment decreased 2 percent in the quarter to $494.1 million. Engineered Fastening achieved 4 percent organic growth driven by strong global automotive and electronics revenues, which more than offset weaker North American industrial volumes.  

Security sales decreased 7 percent to $533.3 million. Organic growth within North America & emerging markets was flat as organic growth across the NA businesses was offset by declines in EM due to a slow China market. 

For the first six months, sales were up slightly to 5.5 billion. Profit increased 2.9 percent to $389.5 million.

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