5 Quarterly Reports You Don’t Want to Miss

4. Stanley Black & Decker, Inc. (NYSE:SWK)

Number of Hedge Fund Holders: 37

Shares of Stanley Black & Decker, Inc. (NYSE:SWK) turned red in the pre-market trading session on Tuesday, February 1, 2022, after announcing mixed financial results for the fourth quarter.

Stanley Black & Decker, Inc. (NYSE:SWK) earned $2.14 per share on an adjusted basis, beating expectations of $2.05 per share. However, the quarterly revenue of $4.1 billion missed analysts’ average estimate of $4.49 billion.

Revenue from the tools & storage segment rose 3.5 percent on a year-over-year basis to $3.37 billion, while revenue from the industrial segment fell 7.3 percent versus last year to $609.7 million.

Stanley Black & Decker, Inc. (NYSE:SWK) also issued its profit outlook for 2022. The manufacturer of industrial tools and household hardware expects adjusted earnings in the range of $12 – $12.5 per share, compared to expectations of $11.94 per share.

Speaking on the results, CEO Donald Allan Jr. said in a statement:

“We exit the year having implemented price increases to mitigate inflationary impacts while improving efficiencies  and investing in expanded capacity to support the continued growth we project in 2022 and beyond.”