Stanley Black & Decker Q4 Earnings Rise; Gives Conservative 2013 Outlook (SWK)

Appliance, power tool, and security company Stanley Black & Decker, Inc. (SWK) said on Thursday that its fourth quarter profit more than tripled due to the sale of a business. Excluding the sale, earnings still beat Wall Street views.

The New Britain, Connecticut-based company said its fourth quarter more than tripled, helped by the sale of Spectrum Brands Holdings Inc. SWK said its net income was $492.1 million, or $2.99 per share, compared to $164 million, or 98 cents per share, earned in the last quarter of 2011. However, earnings from continuing operations fell -15%.

Excluding one-time charges and the results from the sold business, adjusted EPS was $1.37. According to FactSet, analysts were predicting that the company would earn an adjusted $1.34 per share.

The company’s revenue was up +4% to $2.67 billion. Analysts, on average, were expecting revenue to be $2.60 billion.

For the full year, Stanley Black & Decker earned $883.8 million, or $5.30 per share, on $10.19 billion in revenue.

The company’s 2013 guidance is an EPS in the range of $5.40 to $5.65. Analysts are expecting $5.81 per share.

Stanley Black & Decker shares were down 2% during early trading on Thursday. The stock is up +9.63% over the past year.

The Bottom Line
Shares of Stanley Black & Decker (SWK) have a 2.51% dividend yield, based on last night’s closing stock price of $77.96. The stock has technical support in the $70-$75 price area. The stock is trading near the all-time high range of $80-$81 a share.

Stanley Black & Decker, Inc. (SWK) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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