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Stanley Black & Decker fiscal Q1 profit climbs 16.3% YOY

Stanley Black & Decker Inc. said its normalized net income for the fiscal first quarter ended April 1 came to $1.26 per share, compared with the S&P Capital IQ consensus estimate of $1.19 per share.

EPS increased 13.3% year over year from $1.12.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $191.4 million, an increase of 16.3% from $164.6 million in the prior-year period.

The normalized profit margin rose to 6.8% from 6.2% in the year-earlier period.

Total revenue increased 5.0% year over year to $2.81 billion from $2.67 billion, and total operating expenses increased 5.2% on an annual basis to $2.49 billion from $2.36 billion.

Reported net income grew 107.7% on an annual basis to $392.5 million, or $2.59 per share, from $189.0 million, or $1.28 per share.