RTTNews | Jul 27, 2021 06:30AM EDT

06:30 Tuesday, July 27, 2021 (RTTNews.com) - While reporting strong second-quarter results, diversified industrial company Stanley Black & Decker, Inc. (SWK) on Tuesday raised its fiscal 2021 forecast for earnings.

For the year, the company now expects earnings in a range of $10.80 to $11.20 per share, higher than previous estimate of $10.15 to $10.55. Adjusted earnings per share is now expected to be in a range of $11.35 to $11.65, up from earlier expected $10.70 to $11.00.

On average, 19 analysts polled by Thomson Reuters expect earnings of $11.19 per share. Analysts' estimates typically exclude special

Donald Allan Jr., President and CFO, said, "Our revised 2021 guidance calls for organic revenue growth of 16 percent - 18 percent and, at the midpoint, adjusted EPS expansion of 27 percent versus prior year and 37 percent versus 2019. The updated outlook reflects our strong first half performance as well as improved visibility to demand in Tools & Storage."

Further, the company increased quarterly dividend by 13 percent to $0.79 per share, as recently announced.

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