Tool time

3 October 2007 By John Christy

Every gold rush needs its picks and shovels. Black & Decker prospered by selling tools for the housing boom. But it s suffering now. The real estate slump may get worse before it gets better. But Black & Decker’s valuation provides an ample cushion for investors.

This content is for Subscribers only

Context News

Black & Decker's US revenue fell 7% in the US during the first half of the year as the housing market weakened. The Towson, Marylandbased maker of power tools said on September 12 that it expects earnings of $6.35$6.55 per share for fiscal 2007.

Black & Decker's firsthalf slump in the US was partially offset by sales growth of 14% in Europe and Latin America, where revenue rose 24%. Analysts surveyed by FactSet expect Black & Decker to earn $6.42 per share, on average, for fiscal 2007 and $6.80 next year. The company reports thirdquarter earnings on October 26.

Email a friend

Please complete the form below.

Required fields *