Stanley Black & Decker Completes Purchase Of Craftsman Brand; Updates Guidance

(RTTNews) - Stanley Black & Decker (SWK) announced it has successfully completed its purchase of the Craftsman brand from Sears Holdings Corp. (SHLD). The transaction was originally announced on January 5, 2017. Stanley Black & Decker noted that the Craftsman transaction is expected to be immediately accretive to 2017 EPS by approximately $0.08 per share, excluding approximately $20 million of primarily deal-related costs.

Stanley Black and Decker's 2017 updated GAAP EPS outlook is approximately $7.94 - $8.14 per share. The company's 2017 adjusted (excluding charges and gain from the Mechanical Security sale) EPS outlook is $6.74 - $6.94 per share. Stanley Black noted that the guidance excludes the estimated 2017 earnings accretion of approximately $0.20 - $0.25 per share, excluding charges, from the pending Newell Tools acquisition which assumes a first quarter 2017 closing.