Stanley Black & Decker, Inc. Beats Estimates on Higher Revenues, Earnings (SWK)

Stanley Black & Decker, Inc. (SWK) reported its fourth quarter earnings early on Friday morning, posting results that beat both revenue and earnings estimates.

SWK's Earnings in Brief

Stanley Black & Decker reported fourth quarter revenues of $2.9 billion, up 9% from last year’s Q4 revenue of $2.7 billion. Net earnings for the quarter came in at $38.5 million, up from last year’s Q4 net income of $36.1 million. SWK’s EPS for the quarter was reported at 41 cents, but after excluding one-time charges, diluted EPS for Q4 came in $1.32 The company was able to beat analysts’ estimates of $1.30 EPS on revenues of $2.87 billion. For the full year, SWK reported reported diluted EPS of $4.98 on revenues of $11 billion.

CEO Commentary

SWK’s chairman and CEO, John F. Lundgren Chairman, commented on the company’s earnings: "During 2013 we made significant progress driving organic growth throughout the organization and the fourth quarter was no exception as the momentum continued from our organic growth initiatives. CDIY and Industrial delivered strong top and bottom line growth in spite of FX headwinds and on-going challenging global market conditions. The Security segment's margin recovery is underway with notable improvement in North America and actions to improve Europe's margins in place.

"As we move into 2014 it is important to note that our long-term strategy and financial objectives remain intact. We are, however, focused on executing previously announced operating and capital allocation actions to boost returns in the near term. These actions demonstrate our commitment to drive sustainable improvements to the Company's cash flow return on investment and drive shareholder value."

SWK's Dividend

Stanley Black & Decker did not announce a change to its quarterly payout in its earnings release. The company announced a raise to its dividend in July, boosting its quarterly payout from 49 cents to 50 cents. The company should declare its next dividend in the coming weeks.

Stock Performance

SWK stock was inactive in pre-market trading. YTD, the stock is up 0.29%.