Stanley Black & Decker, Inc. (SWK - Free Report) updated its earnings projections for 2021. SWK also updated reported earnings (GAAP and non-GAAP) for the third quarter of 2021. The update reflects the changes it is making for calculating earnings per share.
Shares of Stanley Black have gained 3.32% on Friday, ending the trading session at $196.61.
Inside the Headlines
The above-mentioned changes have been adopted after receiving a comment letter from the Securities and Exchange Commission of the U.S. Stanley Black now considers shares that are underlying its forward stock purchase contracts in the denominator for the calculation of earnings per share.
Such considerations are in sync with the if-converted method. It required correction over Stanley Black’s earnings per share calculation done with the applied treasury stock process. GAAP earnings per share are now calculated to be $2.51 for the third quarter of 2021 and $8.17 per share for the first three quarters of 2021. Stanley Black reported GAAP earnings of $2.56 for the third quarter and $8.36 for the first nine months of 2021 on Oct 28, 2021.
SWK now calculates non-GAAP earnings of $2.71 per share for the third quarter of 2021 and $8.78 per share for the first three quarters of 2021. On Oct 28, the company reported non-GAAP earnings per share of $2.77 for the third quarter and $8.98 for the first three quarters of 2021.
Regarding projections, Stanley Black has updated its 2021-GAAP earnings to $10.00-$10.25 per share from $10.20-$10.45 mentioned on Oct 28. Adjusted non-GAAP earnings are now expected to be $10.70-$10.90 per share compared with $10.90-$11.10 mentioned on Oct 28.
Notably, the projection (implied) for the fourth quarter of 2021 has been unchanged at $1.92-$2.12 per share.
Stanley Balck also expects to close the acquisitions of Excel Industries and MTD Holdings Inc. before the end of 2021. Post-closing, SWK expects recording integration, inventory step-up, and deal costs of 20-30 cents per share.
Zacks Rank, Price Performance and Earnings Estimates
With a market capitalization of $32 billion, Stanley Black currently carries a Zacks Rank #4 (Sell).
In the past three months, Stanley Black’s shares have lost 2% compared with the industry’s decline of 0.9%.
The Zacks Consensus Estimate for Stanley Black’s earnings is pegged at $11.02 for 2021 and $11.90 for 2022. The consensus estimate reflects a decline of 4.5% for 2021 and 3.9% for 2022 from the respective 30-day-ago figures. The same for fourth-quarter 2021 is pegged at $2.05, marking a decline of 28.1% from the 30-day-ago figure.
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Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Stanley Black & Decker, Inc. (SWK - Free Report) updated its earnings projections for 2021. SWK also updated reported earnings (GAAP and non-GAAP) for the third quarter of 2021. The update reflects the changes it is making for calculating earnings per share.
Shares of Stanley Black have gained 3.32% on Friday, ending the trading session at $196.61.
Inside the Headlines
The above-mentioned changes have been adopted after receiving a comment letter from the Securities and Exchange Commission of the U.S. Stanley Black now considers shares that are underlying its forward stock purchase contracts in the denominator for the calculation of earnings per share.
Such considerations are in sync with the if-converted method. It required correction over Stanley Black’s earnings per share calculation done with the applied treasury stock process. GAAP earnings per share are now calculated to be $2.51 for the third quarter of 2021 and $8.17 per share for the first three quarters of 2021. Stanley Black reported GAAP earnings of $2.56 for the third quarter and $8.36 for the first nine months of 2021 on Oct 28, 2021.
SWK now calculates non-GAAP earnings of $2.71 per share for the third quarter of 2021 and $8.78 per share for the first three quarters of 2021. On Oct 28, the company reported non-GAAP earnings per share of $2.77 for the third quarter and $8.98 for the first three quarters of 2021.
Regarding projections, Stanley Black has updated its 2021-GAAP earnings to $10.00-$10.25 per share from $10.20-$10.45 mentioned on Oct 28. Adjusted non-GAAP earnings are now expected to be $10.70-$10.90 per share compared with $10.90-$11.10 mentioned on Oct 28.
Notably, the projection (implied) for the fourth quarter of 2021 has been unchanged at $1.92-$2.12 per share.
Stanley Balck also expects to close the acquisitions of Excel Industries and MTD Holdings Inc. before the end of 2021. Post-closing, SWK expects recording integration, inventory step-up, and deal costs of 20-30 cents per share.
Zacks Rank, Price Performance and Earnings Estimates
With a market capitalization of $32 billion, Stanley Black currently carries a Zacks Rank #4 (Sell).
In the past three months, Stanley Black’s shares have lost 2% compared with the industry’s decline of 0.9%.
The Zacks Consensus Estimate for Stanley Black’s earnings is pegged at $11.02 for 2021 and $11.90 for 2022. The consensus estimate reflects a decline of 4.5% for 2021 and 3.9% for 2022 from the respective 30-day-ago figures. The same for fourth-quarter 2021 is pegged at $2.05, marking a decline of 28.1% from the 30-day-ago figure.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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