|2013 / 2014 Guidance Highlights|
|2013 Guidance||2014 Guidance|
|- Organic Growth||~3%||~4%|
|- Earnings Per Share (1)||~$4.90 - $5.00||~$5.30 - $5.50|
|- Earnings Per Share–GAAP||~$3.05 - $3.15||~$5.20 - $5.40|
|- Free Cash Flow (2)||~$675M|
|- Free Cash Flow Before Charges (1)||~$800M|
Stanley Black & Decker (NYSE: SWK) today provided additional information regarding its near term operational priorities, capital allocation actions and its 2014 financial outlook, and also reaffirmed its 2013 guidance (1).
(1) Excluding Charges/Payments (2) Includes $250M cash outlays in 2014 for payments related to M&A activity and general restructuring, primarily for severance. Stanley Black & Decker’s Chairman and CEO, John F. Lundgren, commented, “We made significant progress driving organic growth during 2013 and expect momentum to continue during 2014. The investments we made this year will help us achieve overall organic growth of approximately 4% in 2014 driven by year over year gains within the majority of our businesses despite a persistent low growth macro environment. Additionally, benefits from the recent cost reductions and operational actions to improve Security margins will result in strong earnings per share growth while funding continued growth investments and facing significant currency and tax headwinds.