Stanley Black & Decker Raises Outlook After Results Beat Views

By Carla Mozee Markets MarketWatch Pulse

Stanley Black & Decker Inc. on Monday raised its yearly forecast for earnings and posted quarterly results that were ahead of expectations. The power tools manufacturer said second-quarter earnings were $277.2 million, or $1.82 a share, compared with $217.5 million, or $1.84 a year ago. Adjusted earnings were $2.01 a share, compared with a FactSet estimate of $1.97 a share. Revenue rose to $3.23 billion from $2.93 billion a year ago. Analysts were looking for $3.18 billion in sales. Stanley Black & Decker raised its fiscal year 2017 adjusted earnings forecast to a range of $7.18 to $7.38 a share, from a previous estimate of $7.08 to $7.28 a share.

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