Why Stanley Black & Decker Stock Fell Today

Toolmaker Stanley Black & Decker (NYSE: SWK) beat earnings expectations for the first quarter, but revenue was light and the company sees rising cost pressures due to tariffs, according to its quarterly report from this morning. Investors viewed the glass as half-empty, sending shares of Stanley down as much as 5% for the day and down 3% heading into market close.Stanley Black & Decker is one of the largest manufactures of tools and outdoor equipment products. The company earned $0.75 per share in the quarter, better than the $0.66 per-share consensus estimate. But revenue of $3.7 billion was down 3% year over year on currency headwinds and business divestitures.Sales of tools, the company's largest segment, were flat, but fastener sales fell by 21% on divestitures and weakness in the automotive sector. Stanley also said it expects full-year earnings per share to come in at around $4.50, significantly below Wall Street's $4.91 consensus.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool