10/23/2015
NEWS BRIEFS
Stanley Black & Decker Sees Organic Fastener Growth
Stanley Black & Decker reported Industrial sales decreased 7% to $479.3 million in the third quarter of 2015, as price (+1%) was more than offset by lower volumes (-1%) and currency (-7%).
Engineered Fastening achieved 3% organic growth as strong global automotive and electronics revenues more than offset weaker industrial volumes.
Overall Industrial segment profit rate was 17.8%, up from the 3Q’14 rate of 17.7%, as favorable volume leverage from Engineered Fastening, productivity gains and cost control more than offset the impacts of currency and lower Infrastructure volumes.
Industrial sales during the first nine months of 2015 declined 4.6% to $1.46 billion, with segment profit falling 5.7% to $254.4 million.
Overall Stanley Black & Decker Q3 sales declined 2% to $2.8 billion, as positive volume (+5%) and price (+1%) were more than offset by currency (-8%). Net earnings dropped 5.2% to $233.4 million.
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