Why Stanley Black & Decker Shares Are Diving Today
Why Stanley Black & Decker Shares Are Diving Today
Adjusted gross margin expansion was driven by lower inventory destocking costs, supply chain transformation benefits, and declining shipping costs. Stanley Black & Decker Inc (NYSE:SWK) shares are trading lower after the company reported first-quarter FY24 results.
美国斯坦利黑德尔公司（NYSE：SWK）报告了2024财年第一季度业绩后股价下跌。
Sales declined 2% Y/Y to $3.870 billion, beating the consensus of $3.823 billion. The revenue decline is primarily due to lower infrastructure volume and muted consumer and DIY demand.
销售额同比下降2％至38.7亿美元，超过预期的38.23亿美元。收入下降主要是由于制造行业用户数下降和消费与DIY需求平淡。
Gross margin expanded by 740 bps Y/Y to 28.6%, and adjusted gross margin was up 590 bps Y/Y to 29.0%.
毛利率同比扩大740个基点至28.6％，调整后毛利率同比增长590个基点至29.0％。
Adjusted gross margin expansion was driven by lower inventory destocking costs, supply chain transformation benefits, and declining shipping costs.
调整后毛利率同比扩张是由于库存去除成本降低、供应链转型效益以及运输成本下降所推动的。
Adjusted EBITDA margin was 8.9%, up 440 basis points Y/Y. Adjusted EPS of $0.56 beat the consensus of $0.54.
调整后的EBITDA利润率同比增长440个基点至8.9％，每股收益为$0.56，超过预期的$0.54。
Cost Savings: The Global Cost Reduction Program generated incremental pre-tax run-rate cost savings of $145 million. Since the program's inception in mid-2022, the company has generated around $1.2 billion in pre-tax run-rate savings and reduced inventory by $1.9 billion.
成本节约：全球成本削减计划产生了每年14500万美元的额外税前成本节约。自2022年中期以来，公司已经实现了约12亿美元的税前每年现金流节约，并将库存减少了19亿美元。
Stanley Black & Decker expects to generate $1.5 billion of pre-tax run-rate cost savings by end-2024, growing to $2 billion by the end of 2025.
斯坦利黑德尔公司预计到2024年底实现每年150亿美元的税前现金流节约，到2025年底增长到200亿美元。
The company witnessed a negative operating cash flow of ($431.0 million) in the quarter. Stanley Black & Decker held $481.4 million in cash and equivalents as of March 30.
该公司本季度经营活动现金流为负43100万美元。截至3月30日，斯坦利黑德尔公司持有48140万美元的现金和相应的存款。
2024 Outlook Reaffirmed: Stanley Black & Decker expects adjusted EPS of $3.50-$4.50 versus consensus of $4.15. The company sees a free cash flow of $0.6 billion to $0.8 billion.
2024年展望：斯坦利黑德尔公司预计调整后每股收益为3.50-4.50美元，预期比市场预期的4.15美元低。该公司预计自由现金流为6亿到8亿美元。
Donald Allan, Jr., President & CEO said, "Looking forward, we expect mixed demand trends to persist across our businesses in 2024, and we are driving supply chain cost improvements designed to expand margins, deliver earnings growth and generate strong cash flow."
总裁兼首席执行官Donald Allan, Jr.表示：“展望未来，我们预计2024年我们的各业务线的需求呈现出不同的趋势。我们正在推动的供应链成本改进旨在扩大利润率，实现盈利增长并产生强大的现金流。”
"At the same time, the long-term growth and market share gains we are focused on achieving will be driven by introducing exciting new products within our most powerful brands designed to deliver enhanced productivity for end users. We are funding growth investments intended to further accelerate innovation and differentiated market activation to capture these compelling long-term opportunities."
“与此同时，我们将通过推出最具影响力的品牌中的令人兴奋的新产品来实现长期增长和市场份额的提升，这些新产品旨在为最终用户提供增强的生产力。我们正在为进一步加速创新和差异化市场激活而提供增长投资，以捕捉这些引人注目的长期机遇。”
Investors can gain exposure to the stock via Roundhill ETF Trust Roundhill S&P Dividend Monarchs ETF (NYSE:KNGS) and Federated Hermes ETF Trust Federated Hermes U.S. Strategic Dividend ETF (NYSE:FDV).
投资者可以通过Roundhill ETF Trust Roundhill S&P Dividend Monarchs ETF（NYSE：KNGS）和Federated Hermes ETF Trust Federated Hermes U.S. Strategic Dividend ETF（NYSE：FDV）来获得该股票的曝光。
Price Action: SWK shares are down 9% at $83.58 at the last check Thursday.
截至上周四的最后一次查询，SWk股票下跌9％，至83.58美元。
