Stanley Black & Decker backs FY24 adjusted EPS view $3.50-$4.50, consensus $4.15

Backs FY24 free cash flow view $0.6B-$0.8B. Patrick Hallinan, executive VP and CFO, commented, “The actions we are taking to advance our strategic transformation are progressing successfully, and despite the tepid market backdrop so far in 2024, our profitability remains on an upward trajectory. We will continue our disciplined approach to cost management as we drive toward our target of 35%+ adjusted gross margins* while funding additional organic revenue growth* investments. The organization is focused on delivering margin expansion, cash generation and balance sheet strength, while working together to position the Company for long-term growth and value creation.”