Stanley Black & Decker Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
January 26, 2017 at 11:00 am
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Stanley Black & Decker reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net sales of $2,920.4 million against $2,845.4 million a year ago. Earnings from continuing operations before income taxes was $282.3 million against $306.4 million a year ago. Net earnings from continuing operations was $255.8 million against $267.3 million a year ago. Net earnings from continuing operations attributable to common shareowners was $255.5 million against $267.2 million a year ago. Net earnings attributable to common shareowners was $255.5 million against $265.5 million a year ago. Diluted earnings per share of common stock from continuing operations was $1.71 against $1.78 a year ago. Total diluted earnings per share of common stock was $1.71 against $1.77 a year ago. Net cash provided by operating activities was $835.2 million against $828.2 million a year ago. Capital and software expenditures was $125.3 million against $131.3 million a year ago.
For the year, the company reported net sales of $11,406.9 million against $11,171.8 million a year ago. Earnings from continuing operations before income taxes was $1,226.1 million against $1,150.8 million a year ago. Net earnings from continuing operations was $964.9 million against $902.2 million a year ago. Net earnings from continuing operations attributable to common shareowners was $965.3 million against $903.8 million a year ago. Net earnings attributable to common shareowners was $965.3 million against $883.7 million a year ago. Diluted earnings per share of common stock from continuing operations was $6.51 against $5.92 a year ago. Total diluted earnings per share of common stock was $6.51 against $5.79 a year ago. Net cash provided by operating activities was $1,485.2 million against $1,182.3 million a year ago. Capital and software expenditures was $347.0 million against $311.4 million a year ago. Free cash flow was $1.1 billion.
In 2017 the company expects to generate another year of above-market organic growth, with growth approaching 4%, and EPS of $6.85 to $7.05, up 7% at the mid-point versus prior year, excluding the estimated earnings per share impacts of the aforementioned Newell Tools, Mechanical Security and Craftsman transactions. The company announced that operating cash flow generated in 2017 and the expected proceeds from the sale of the Mechanical Security businesses to fund the Newell Tools & Craftsman acquisitions.
Stanley Black & Decker, Inc. specializes in the design, manufacturing and marketing of tools and engineering solutions for professional, industrial and construction and consumer use. Net sales break down by family of products as follows:
- electric tools and accessories (71.1%): tools and electric devices (drills wire, sanders, saws, grinders, batteries, etc.), garden tools (shears, cutting edge, trimmers, aerators , grinders, chainsaws, etc.), vacuum cleaners, lamps, lights, battery chargers, starter batteries, power converters, hand tools (measuring and leveling tools, planes, hammers, knives, blades, screwdrivers, saws, etc.), consumer mechanics tools (wrenches and sockets), plastic tool boxes, pneumatic tools and fasteners (nail guns, staplers, staples, etc.);
- industrial products (16.2%): professional and automotive mechanics tools (wrenches, sockets, electronic diagnostic tools, etc.), storage systems, plumbing, heating and air conditioning tools (pipe wrenches, pliers, tubing cutters, etc.), hydraulic tools, etc.;
- access and security products (12.7%): automatic doors, door closers, emergency exit devices, locking mechanisms, integrated security devices, etc.
Net sales are distributed geographically as follows: the United States (60.5%), Canada (4.7%), Americas (4.2%), France (4%), Europe (19.2%) and Asia (7.4%).
Stanley Black & Decker Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
STANLEY BLACK & DECKER, INC. 
