By Rob Curran

Stanley Black & Decker's first-quarter net income fell due to the impact of a unit sale but the tool maker backed its adjusted earnings projection for the year as higher prices offset lower sales volumes.

The New Britain, Conn., maker of drills and other hand tools posted earnings of $59.6 million, or 39 cents a share, down from $90.4 million, or 60 cents a share, a year earlier.

Stripping out certain one-off items such as asset impairment and restructuring charges, adjusted earnings were 80 cents a share, handily beating the mean analyst estimate of 59 cents a share, as per FactSet.

Sales rose 3% to $3.85 billion, topping the mean analyst estimate of $3.75 billion. Higher prices and favorable foreign-currency translation offset the impact of lower sales volumes. Sales at the tools and outdoor unit inched up 2% to $3.34 billion, despite a 5% drop in volumes. Sales at its engineered fastening products unit rose 10% to $511 million as volumes expanded 6%.

For 2026, Stanley Black & Decker boosted its earnings projection to a range between $4.15 and $5.35 a share, reflecting the impact of the recent sale of its Consolidated Aerospace Manufacturing unit.

The company reiterated its forecast for 2026 adjusted earnings of $4.90 to $5.70 a share, compared to the average analyst target of $5.29 a share.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

April 29, 2026 06:45 ET (10:45 GMT)

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