Stanley Black & Decker reports Q2 adjusted EPS (11c), consensus (37c)

Reports Q2 revenue $4.16B, consensus $4.14B. Donald Allan, Jr., Stanley Black & Decker’s president and CEO, commented, “We continued to make significant progress against our strategic business transformation in the second quarter highlighted by strong execution against our cost savings program, continued inventory reduction, sequential gross margin improvement and numerous advances in our supply chain optimization initiative. While the operating backdrop remains dynamic with some underlying consumer softness, we continue to see strong demand in the professional construction, automotive and aerospace markets as well as further stabilization across global supply chains.”