Stanley Black & Decker(US:SWK)2024-10-29 14:16Financial Performance - Total revenue reached $3.8 billion, a decrease of 5% year-over-year, with organic revenue down by 2%[3] - Adjusted gross margin improved to 30.5%, up 290 basis points compared to Q3 2023, driven by supply chain transformation[3, 4, 10] - Adjusted EPS was $1.22[3, 4] - Cash from operating activities amounted to $286 million, and free cash flow was approximately $200 million[4] Cost Savings and Transformation - Pre-tax run-rate cost savings reached $105 million in Q3 2024, with a program-to-date total of $1.4 billion[3, 7] - The company is on track for expected $2.0 billion pre-tax run-rate cost savings by the end of 2025[7] Segment Performance - Tools & Outdoor segment revenue was $3.263 billion, down 3% year-over-year, with a 2% decline in organic revenue and an adjusted segment margin of 11.1%[5] - Industrial segment revenue was $488 million, down 18% year-over-year, with a 1% decline in organic revenue and an adjusted segment margin of 13.9%[5] Guidance and Outlook - The company narrowed its GAAP EPS range to $1.15 to $1.75 and adjusted EPS range to $3.90 to $4.30, reiterating free cash flow of $650 million to $850 million[4, 12] - The company expects approximately 30% full year 2024 adjusted gross margin[10] Liquidity - The company has $0.3 billion cash on hand and $3.1 billion additional commercial paper capacity[16]