Nov. 4, 2022
Acquisitions Drive Stanley Black & Decker Sales
Stanley Black & Decker had net sales of $4.1 billion for the third quarter of 2022, up nine per cent compared to net sales of $3.8 billion in the third quarter of 2021. The increase was driven by strategic outdoor power equipment acquisitions and price realization. Gross margin for the quarter was 24.7 per cent and adjusted gross margin was down 760 basis points from the prior year. The tools and outdoor segment net sales increased 10 per cent year over year and the industrial segment net sales increased five per cent. Overall net earnings were $844.6 million compared to $414.2 million last year.