Stanley Black & Decker enjoys profitable Q2 with 10% sales increase
Stanley Black & Decker has released its financial figures for the second quarter, with the power tools specialist achieving a 10% increase in net sales.
The Connecticut-based manufacturer surpassed expectations by reaching $3.2bn worth of sales in the three months up to the end of June, a 7% rate of organic growth.
This figure exceeded analysts’ predictions and has resulted in Stanley Black & Decker raising its yearly forecast.
Sales of tools and storage were behind the increase, with that particular area of business generating 17% more money than it did in the same quarter in 2016.
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The biggest gains were made in North America and Europe, with a range of new products resulting in a higher volume of transactions.
“Stanley Black & Decker continued to generate impressive results in the second quarter,” said James M. Loree, President and CEO.
“Each of our businesses contributed to 7% organic revenue growth and the Company posted a strong 15.7% operating margin rate.
“I am pleased with our team's solid execution, and with our continued efforts to become known as a leading innovator, deliver top-quartile financial performance and elevate our commitment to social responsibility.”