Stanley Black & Decker Raises FY17 Adj. EPS Guidance Range - Quick Facts

(RTTNews) - Stanley Black & Decker (SWK) raised the mid-point of and tightened its 2017 EPS outlook to $8.20 - $8.30 from $8.05 - $8.25 on a GAAP basis and to $7.33 - $7.43 from $7.18 - $7.38 on an adjusted basis, as it expects stronger full year results attributable primarily to higher organic growth expectations. The company also reiterated its free cash flow conversion estimate of approximately 100%.

Donald Allan Jr., CFO, said, "We are pleased to increase our 2017 guidance, which now reflects our belief that we will achieve organic growth approaching 6% and 13% - 14% earnings per share growth versus prior year. We expect that our robust free cash flow generation will enable us to bring our credit metrics back in line by the end of 2017. As we look ahead to 2018, our strong day-to-day execution and commitment to SFS 2.0 give us confidence in our ability to deliver solid organic growth with operating leverage, earnings per share expansion and free cash flow conversion consistent with our long-term financial objectives."

Excluding M&A related charges, third-quarter EPS was $1.95, up 16% from prior year. Revenues totaled $3.3 billion, up 14% from last year, with organic growth of 7%.