Guidance
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SWK
FY2026 Q1
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Отчётный звонок Stanley Black & Decker, Inc.
Вывод Buzzberg
Adjusted EPS guidance maintained despite tariff and inflation offsets
SWK delivered a strong Q1 with EPS 20 cents above the high end of guidance, driven by a well-executed outdoor preseason and lower tax rate. Management maintained full-year EPS guidance while crediting a temporary tariff tailwind that is offset by new inflationary pressures. Q1 EPS of $0.80 beat the high-end of guidance by $0.20, with half of the beat from operating outperformance in Outdoor and half from below-the-line timing items.
Вывод Buzzberg Adjusted EPS guidance maintained despite tariff and inflation offsets SWK delivered a strong Q1 with EPS 20 cents above the high end of guidance, driven by a well-executed outdoor preseason and lower tax rate. Management maintained full-year EPS guidance while crediting a temporary tariff tailwind that is offset by new inflationary pressures. Q1 EPS of $0.80 beat the high-end of guidance by $0.20, with half of the beat from operating outperformance in Outdoor and half from below-the-line timing items. Читать полный анализСвернуть анализ
SWK delivered a strong Q1 with EPS 20 cents above the high end of guidance, driven by a well-executed outdoor preseason and lower tax rate. Management maintained full-year EPS guidance while crediting a temporary tariff tailwind that is offset by new inflationary pressures. Q1 EPS of $0.80 beat the high-end of guidance by $0.20, with half of the beat from operating outperformance in Outdoor and half from below-the-line timing items.
- Full-year 2026 EPS guidance maintained at $4.90-$5.70, with reported revenue expected to be flat due to the divestiture of CAM.
- Tariff policy changes, including the move from IEPA to Section 122 tariffs, are expected to be a net tailwind compared to prior assumptions, but this is roughly offset by new inflation from battery metals, tungsten, and the Middle East conflict.
- Gross margin trajectory is expected to improve significantly in the second half of the year, with management confirming it can see the Q3 2026 gross margin rate in its balance sheet already.
TOOLS_AND_OUTDOOR Выручка$3.3BФакт
Выручка$3.8464B+4% к/к
EPS$0.80-43% к/к
Валовая маржа30.09%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Tariffs
Tariff changes are a net tailwind, offset by inflation
Balance Sheet
CAM divestiture proceeds used to reduce debt
Показать ещё 3 тезиса
Capital Allocation
Capital allocation biased toward share repurchases
Demand
Professional channel growth confirms strategy traction
Margins
Adjusted gross margin 35% targeted by Q4 2026
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| TOOLS_AND_OUTDOOR Выручка | $3.3B | Факт |
| Выручка | $3.8464B | +4% к/к |
| EPS | $0.80 | -43% к/к |
| Валовая маржа | 30.09% | Факт |
| Операционная маржа | 6.02% | Факт |
| Свободный денежный поток | $-0.4473B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| EPS | FY2026 | $4.90–$5.70 | $5.30 | Подтверждён |
| Свободный денежный поток | FY2026 | $0.5B–$0.7B | $0.6B | Обозначен |
| Выручка | FY2026 | $3.9B | $3.9B | Обозначен |
AI, капзатраты и спрос
Оценка менеджмента
Measured
Management acknowledged a challenging environment but emphasized execution, progress on strategic initiatives, and reiterated guidance with confidence.
Внешние сигналы
Альфа цепочки поставок · 3с момента звонка
Management expects new Section 301 tariffs to be introduced at the same level as the old IEPA tariffs, meaning underlying tariff costs would be virtually the same by August as they were prior to the Supreme Court ruling in February.
Доказательства
“Our base case assumption is that new Section 301 tariffs will be introduced at the same level as the old IEPA tariffs, which means our underlying tariff costs would be virtually the same by August as they were prior to the Supreme Court ru…”
Management sees a massive step-up in gross margin from the first half to the second half of the year, with 40% of the delta from net productivity benefits and another similar amount from adjusting the fixed cost structure to the current volume environment.
Доказательства
“you're talking about really three big factors that go beyond the normal seasonality of outdoor or the cam issue that you mentioned, because these are really the ones that are going to sustain it and drive it long term”
Management affirmed that the 232 tariff changes only translate to an incremental headwind of $15 million on an annualized basis, or less than $10 million in 2026, despite market speculation about outsized exposure.
Доказательства
“we assessed the incremental headwind to be just $15 million on an annualized basis and less than $10 million for 2026”
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 0. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.