Stanley Black & Decker(SWK) - 2025 Q1 - Quarterly Results

Financial Performance - Net sales for Q1 2025 were $3,744.6 million, a decrease of 3.2% from$ 3,869.5 million in Q1 2024[2] - Gross profit increased to $1,120.8 million, representing 29.9% of net sales, compared to 28.6% in the previous year[2] - Net earnings for Q1 2025 were$ 90.4 million, significantly up from $19.5 million in Q1 2024, resulting in diluted earnings per share of$ 0.60[2] - Non-GAAP net earnings for Q1 2025 were $114.4 million, with a diluted earnings per share of$ 0.75 after adjustments[9] - Net earnings for Q1 2025 were $90.4 million, a significant increase from$ 19.5 million in Q1 2024, representing a growth of 362.3%[13] - Adjusted EBITDA for Q1 2025 was $361.8 million, up from$ 342.6 million in Q1 2024, reflecting an increase of 5.7%[13] Segment Performance - The Tools & Outdoor segment reported net sales of $3,280.9 million, slightly down from$ 3,284.6 million in Q1 2024, while segment profit increased to $289.2 million[8] - The Engineered Fastening segment saw a decline in net sales to$ 463.7 million from $584.9 million, with segment profit dropping to$ 39.0 million[8] - GAAP revenue growth for Stanley Black & Decker was -3% in Q1 2025, with organic growth at 1% after adjusting for currency and acquisitions[17] - The Engineered Fastening segment experienced a decline of 21% in GAAP revenue growth, with organic growth at -1%[17] Cash Flow and Dividends - Free cash flow before dividends for Q1 2025 was $(485.0) million, slightly improved from$ (496.7) million in Q1 2024[6] - The company declared a dividend of $0.82 per share, up from$ 0.81 in the previous year[2] Assets and Liabilities - Total current assets rose to $7,009.1 million as of March 29, 2025, compared to$ 6,377.7 million at the end of 2024[4] - Total liabilities increased to $13,654.1 million from$ 12,528.5 million, with short-term borrowings of $1,135.2 million reported[4] Expenses and Charges - Selling, general and administrative expenses were$ 22.0 million in Q1 2025, up from $20.1 million in Q1 2024, reflecting an increase of 9.5%[15] - Interest expense decreased to$ 77.2 million in Q1 2025 from $87.9 million in Q1 2024, a reduction of 12.8%[13] - The company incurred a restructuring charge of$ 1.2 million in Q1 2025, compared to $15.0 million in Q1 2024, indicating a decrease of 92%[15] Other Financial Metrics - Non-GAAP adjustments before income taxes totaled$ 31.5 million in Q1 2025, down from $71.5 million in Q1 2024, indicating a reduction of 56%[15] - Supply Chain Transformation Costs in Q1 2025 amounted to$ 16.7 million, compared to $14.4 million in Q1 2024, showing an increase of 15.9%[15] - The company reported a gross profit of$ 16.7 million in Q1 2025, compared to $14.4 million in Q1 2024, marking a growth of 15.9%[15]