Stanley Black & Decker announced that it is adjusting its quarterly results and estimates for the year, after receiving a letter from the Hellenic Capital Market Commission regarding its accounting.
The change will change earnings per share for the third quarter to $ 2.51 from the $ 2.56 announced.
If the deductions and charges of 20 cents per share were deducted, the adjusted earnings would be $ 2.71 versus the $ 2.77 announced.
“The company does not believe that this change has a significant impact on its financial statements.”
The tool company adjusted the estimates to capture the change, at $ 10-10.25 per share compared to the previous one for $ 10.20-10.45.
It also expects adjusted earnings of $ 10.70-10.90 compared to the previous estimate of $ 10.90-11.10.
Source From: Capital