Stanley Black & Decker Q2 Earnings Rise, Lifts FY GAAP EPS View

(RTTNews) - Tool maker Stanley Black & Decker (SWK) Thursday said its second-quarter attributable profit improved to $227.2 million from $216.5 million in the prior year. Earnings per share improved to $1.49 from $1.36.

Earnings per share from continuing operations advanced to $1.54 from $1.39 in the prior year.

On average, 13 analysts polled by Thomson Reuters expected earnings of $1.44 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales edged up to $2.867 billion from $2.860 billion in the prior year, as organic growth of 8 percent was offset by an 8 percent currency impact. Analysts expected revenues of $2.82 billion.

Further, the company raised its GAAP earnings per share guidance range for the year to $5.70 to $5.90 from $5.65 to $5.85, Up 6 to 10 percent compared to 2014.

The outlook reflects the strong first half performance and improved full-year organic outlook within Tools & Storage.

Analysts look for full-year earnings of $5.79 per share.