Stanley Black & Decker's (SWK) net income fell in the second quarter.
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Earnings and Revenue
The company fell short of estimates with EPS of 92 cents a share and revenues of $2.81 billion. Analysts were expecting EPS of $1.52 a share and revenues of $2.9 billion. The company's reported EPS came in below the low estimate of 11 analysts of a profit of $1.42.
The company's net income for the quarter fell 21.5% to $154.8 million. Revenue climbed 8.1% from $2.62 billion in the same period last year.
Company Fundamental Trends
This marks the second quarter in a row that the company's net income has fallen after profits tumbled 23.3% in the first quarter.
History Against Expectations
The company has now missed estimates in the last two quarters. In the first quarter, it missed expectations by 4 cents with net income of $1.09 versus a mean estimate of net income of $1.13 per share.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.