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Stanley Black & Decker Stock Drops 7% Amid Tariff Woes and Weak Earnings
Stanley Black & Decker Stock Drops 7% Amid Tariff Woes and Weak Earnings
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BTCCSquare news:
Stanley Black & Decker shares plummeted 7% on Tuesday, sharply underperforming the broader market's 0.3% decline. The toolmaker's disappointing Q2 results revealed a 2% revenue drop to $3.9 billion, missing analyst estimates of $4 billion. Management blamed sluggish outdoor equipment sales and supply chain disruptions from U.S. tariffs.
Adjusted net income fell nearly 1% to $163 million ($1.08 per share), far below the $0.41 consensus projection. Incoming CEO Christopher Nelson outlined mitigation plans, emphasizing supply chain optimization across North American facilities. The company maintains its full-year profit guidance despite current headwinds.
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