Stanley Black & Decker Inc.'s (SWK) fourth-quarter earnings jumped 85%, topping analysts' estimates, as the company again benefited from its recent blockbuster merger.
The company also forecast current-year earnings of $4.75 to $5 a share. Analysts surveyed by Thomson Reuters most recently expected $4.73.
The tool giant, formed in March when Stanley Works bought Black & Decker for $4.5 billion worth of stock, has seen revenue and profit soar lately because of the combination. It has expected to benefit from a rebound in construction, industrial and security products, and executives have said the company is seeing merger-related savings faster than it expected.
Stanley Black & Decker reported a profit of $137.8 million, up from $74.3 million a year earlier. Per-share profit fell to 81 cents from 91 cents, as the number of shares outstanding more than doubled. Excluding items such as costs relating to the merger, earnings were $1.05 in the most recent quarter.
Revenue more than doubled to $2.41 billion.
Analysts polled by Thomson Reuters had most recently forecast earnings of 92 cents on $2.38 billion in revenue.
Gross margin fell to 36% from 36.5%.
Shares closed at $66.95 and were inactive premarket. The stock has risen 28% the past year.
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