The 2020 Mid-Year Economic Update_long

Stanley Black & Decker Sales up 1% in 2Q

Profit was up 15.7 percent for the second quarter.

Stanley Black & Decker (NYSE: SWK), New Britain, CT, reported sales for the second quarter of $2.9 billion, a 1 percent increase over the same period a year ago. Organic growth in North America was down 2 percent due to the outdoor product business offsetting continuing solid momentum in other categories. Profit increased 15.7 percent to $216.5 million.

In CDIY, sales were flat versus the second quarter of 2013 as the aggregate impact of volume, price and acquisitions (up 1 percent) was offset by currency (down 1 percent).

Net sales in the industrial segment rose 3 percent compared to the second quarter one year prior, as a result of volume (up 2 percent) and acquisitions (up 1 percent). Pricing was up slightly and currency was relatively flat for the quarter. Engineered fastening posted 2 percent organic growth driven by strong global automotive revenues partially offset by weaker electronic volume.

Organic sales for the industrial and automotive repair business were up 2 percent primarily as a result of new product introductions and strength within Mac Tools industrial distribution and Advanced Industrial Solutions, partially offset by weak emerging markets. Infrastructure organic growth was up 5 percent due to solid oil and gas activity coupled with improving demand for hydraulic tools.

Security sales were relatively flat versus the second quarter of 2013 as lower volume (down 2 percent) was offset by pricing (up 1 percent) and currency (up 1 percent). Organic growth within North America and emerging markets increased 2 percent due primarily to performance within the commercial electronics and automatic doors businesses. Europe declined 6 percent organically due to lower installation and recurring revenues.

For the first six months, sales were up 3.6 percent to 5.5 billion. Profit was $378.4 million, up 41 percent over the first half of 2013.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.