Why Stanley Black & Decker Shares Are Diving Today
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Stanley Black & Decker Inc FY24 Q1 Results:
- Sales declined 2% Y/Y to $3.870 billion, beating consensus.
- Gross margin expanded by 740 bps Y/Y to 28.6%, adjusted gross margin up 590 bps Y/Y to 29.0%.
- Adjusted EBITDA margin increased by 440 basis points Y/Y.
- Cost savings program generated $145 million in pre-tax run-rate savings.
- Company expects to generate $1.5 billion in cost savings by end-2024.
Financial Outlook and Commentary:
- Expects adjusted EPS of $3.50-$4.50 for 2024.
- Forecasts free cash flow of $0.6 billion to $0.8 billion.
- CEO anticipates mixed demand trends and focuses on supply chain improvements.
- Emphasis on introducing new products for growth and market share gains.
- Investors can access the stock through specific ETFs like KNGS and FDV.
Analyst Views on FDV
Wall Street analysts forecast FDV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FDV is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 29.800
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
