Stanley Black & Decker sales up 10 percent in Q2
A healthy U.S. tool market and new products drive gains.
Stanley Black & Decker said its second quarter net sales were $3.2 billion, up 10% versus prior year.
Net earnings of $277.2 million were 2.1 percent higher than net earnings of $271.5 million in last year's second quarter.
"Of particular note was the performance of Tools and Storage and Engineered Fastening, which generated organic growth of 8% and 6%, respectively, as well as Security North America, which built on the positive momentum of last quarter to deliver 4% organic growth. Both of our smaller Industrial businesses, Hydraulic Tools and Oil & Gas, also contributed with double-digit organic growth," said James M. Loree, president and CEO.
Share gains in North America were aided by a healthy U.S. tool market, along with new products, including sales from the DEWALT FlexVolt system, and consistently strong commercial execution. Industrial channels within North America delivered high-single-digit growth reflecting improving market conditions and strength within MAC Tools, the company said.
Industrial net sales increased 7% versus last year's second quarter. Engineered Fastening organic revenues increased 6% as strong automotive system shipments supporting new customer platforms and volume growth within general industrial markets more than offset declines within electronics.
Learn more at www.stanleyblackanddecker.com
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