New Britain-based Stanley Black & Decker said this week it will begin selling its Craftsman tools in Lowe’s stores in the second half of 2018.
Craftsman, which Stanley acquired earlier this year for about $900 million from Sears Holdings, is currently sold in Sears, Ace Hardware and Orchard Supply Hardware stores.
Also this week, Stanley announced third quarter earnings of $274.2 million, or $1.80 per diluted share, up from $248.9 million, or $1.68, a year ago. Excluding mergers and acquisitions-related charges, diluted EPS was $1.95, up 16 percent from a year ago, reflecting strong operational performance, the company said.
Revenues in the quarter totaled $3.3 billion, up 14 percent from the prior year quarter.
The company also raised its outlook for the year, raising its midpoint of full-year diluted EPS and tightening the range to $8.20 to $8.30, up from $8.05 To $8.25,and raising its adjusted EPS guidance range to $7.33 to $7.43, up from $7.18 to $7.38, based on higher organic growth expectations.
