Stanley Black & Decker Reports Stronger 3Q Revenues
Oct 16, 2013
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Power tools and home security products firm Stanley Black & Decker reported that its third quarter 2013 revenues were up 10%, to $2.8 billion, on organic growth of 4%.
Net sales in 3Q 2013 in the company's CDIY (Construction and Do-It-Yourself) business was $1,388 million. Profits in this business segment in 3Q 2013 were $204.9 million.
CDIY segment saw net sales increase 5% compared to 3Q 2012. As in the prior quarter, strong organic volumes were achieved in North America, primarily driven by new product introductions, retail promotions, and continued strength in the residential construction market. Emerging markets also grew 10%.
While emerging markets are still strong, macroeconomic conditions caused growth rates in the CDIY segment to decelerate slightly, the company said.
CDIY European volumes were up 3% organically in 3Q 2013. Europe saw growth in all regions, and especially in the UK.
Excluding charges, overall CDIY segment profit was 14.9%, relatively consistent with 2Q 2013 but down from the 3Q 2012 rate of 15.5%.
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