Stanley Black & Decker sees FY23 adjusted EPS $0.00-$2.00, consensus $4.20

Sees FY23 free cash flow $0.5B-$1B. Corbin Walburger, interim CFO, commented, "We made tangible progress executing our plan in the fourth quarter, including substantially reducing inventory and generating over $500 million of free cash flow. As we execute in 2023, we are prepared to navigate a range of demand possibilities, while delivering on our business transformation. Consistent with the plan we outlined last year, we expect the impact of targeted production curtailments will continue to weigh on margins through the first half of 2023 as we prioritize cash generation to position the Company for gross margin expansion and enhanced balance sheet strength. We are confident that by executing on our core priorities we are positioning the Company for long-term value creation."