Stanley Black & Decker raised its forecast for the year as profit rose in its latest quarter, partially helped by tariff refunds.

The maker of drills and other hand tools now expects 2026 earnings at $4.60 to $5.45 a share, up from a prior outlook of $4.15 to $5.35. The company tightened its adjusted EPS view to between $5.20 and $5.80 from a prior range of $4.90 to $5.70. Analysts polled by FactSet expect 2026 adjusted earnings of $5.37 a share.

The outlook for the year consists of charges of 35 cents to 60 cents a share from footprint and other cost actions, largely offset by the gain on the sale of the consolidated aerospace manufacturing business.

"Successfully closing the CAM divestiture at the start of the quarter enhanced our financial strength, affording the ability to invest in growth, reduce debt, support the dividend, and repurchase our shares," Chief Financial Officer Patrick Hallinan said.

Stanley Black & Decker on Wednesday posted earnings of $351.3 million, or $2.33 a share, up from $101.9 million, or 67 cents a share, a year earlier.

Stripping out certain one-time items, adjusted earnings were $1.57 a share, compared with mean analysts estimate of $1.21 a share, as per FactSet.

Sales ticked up to $3.96 billion, compared with mean analysts' estimate of $3.97 billion.

Higher volume and currency tailwinds were offset by the CAM divestiture and the previously-announced transition to a licensing model for the gas walk-behind outdoor products.