Stanley Black & Decker reported Engineered Fastening second quarter organic revenue rose 3% “as significant automotive & industrial fastener penetration gains were partially offset by the anticipated impact from lower automotive system shipments.”

Overall Stanley Black & Decker sales increased 11% to $3.6 billion in Q2, with positive volume (+6%), acquisitions (+3%), price (+1%) and currency (+1%). Gross margin rate for the quarter was 35.3%.

Total M&A-related and other charges in 2Q’18 were $126.7 million.

Overall sales during the first half of 2018 grew 11.5% to $6.85 billion, with net earnings down 31% to $463.5 million. Web: StanleyBlackandDecker.com