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Stanley Black & Decker Q3 profit climbs 18.4% YOY

Stanley Black & Decker Inc. said its normalized net income for the third quarter came to $1.63 per share, compared with the S&P Capital IQ consensus estimate of $1.87 per share.

EPS rose 14.8% year over year from $1.42.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $249.2 million, a gain of 18.4% from $210.4 million in the third quarter ended Oct. 1, 2016.

The normalized profit margin increased to 7.6% from 7.3% in the year-earlier period.

Total revenue increased 14.5% on an annual basis to $3.30 billion from $2.88 billion, and total operating expenses rose 12.7% from the prior-year period to $2.87 billion from $2.54 billion.

Reported net income grew 10.5% on an annual basis to $274.7 million, or $1.80 per share, from $248.6 million, or $1.68 per share.