Stanley Black & Decker reported Engineered Fastening organic revenues increased 6% in the second quarter of 2017 “as strong automotive system shipments supporting new customer platforms and volume growth within general industrial markets more than offset declines within electronics.”

Q2 Industrial segment revenues, including fasteners, increased 7% to $496.3 million, with segment profit up 22% to $96.4 million. Segment profit rate was 19.4%, as volume leverage, productivity gains and cost control resulted in a 240 basis point expansion.

During the first six months of 2017, Industrial segment revenues, including fasteners, gained 4.8% to $968.9 million, while segment profit rose 18% to $182.7 million.

Overall Stanley Black & Decker revenues improved 10% to $3.2 billion in Q2 “as positive volume (+8%) and acquisitions (+7%) more than offset divestitures (-3%), price (-1%) and currency (-1%).”

“Supplementing the solid organic performance, our recent acquisitions added 7 points of revenue growth,” stated CEO James Loree. Web: stanleyblackanddecker.com