SWK - Stanley Black & Decker Navigates Tough Q4: Sales Dip But Beats EPS Expectations Eyes Steady 2024 | Benzinga
Stanley Black & Decker Inc (NYSE:SWK) reported a fourth-quarter FY23 sales decline of 6% year-on-year to $3.74 billion, missing the consensus of $3.84 billion.
The revenue decline is primarily due to lower outdoor and DIY volume and infrastructure customer destocking. Adjusted EPS of $0.92 beat the consensus of $0.79.
Gross margin expanded by 280 bps to 29.6% sequentially, and adjusted gross margin was 29.8%, up from 19.5% YoY.
Adjusted gross margin expansion was driven ...