Stanley Black & Decker reported Engineered Fastening organic revenues during the second quarter of 2019 fell 4% “as automotive and industrial market declines were partially offset by continued fastener penetration gains.”

Sales at the company’s Industrial segment, including fasteners, increased 13% to $650 million, despite a 3% decline in volume. Segment profit rose to $95.1 million and the profit rate reached 14.6%, hurt by lower Engineered Fastening automotive volume and commodity inflation.

Six-month Industrial segment sales dropped 2% to $971.7 million, while segment profit edged up to $166.1 million.

Consolidated Stanley Black & Decker revenue during Q2 increased 3% to $3.8 billion, with gains in volume and acquisitions. Q1 net earnings rose to $356.3 million, while operating margin increased to 13.8%. Web: StanleyBlackandDecker.com