The Black & Decker Corporation (BDK) is expected to report Q3 earnings before market open Thursday, October 23, with a conference call scheduled for 10:00 am ET.
Analysts are looking for a profit of $1.30 on revenue of $1.53B. The consensus range is $1.27 to $1.36 for EPS, and revenue of $1.43B to $1.58B, according to First Call. In July, Black & Decker forecast a mid-to-high single-digit rate of organic sales decline for both Q3 and FY08 and maintained its cost reduction efforts were "on track". Between the faltering economy, soaring food and gas prices, limited credit, slumping home prices and worries about jobs, shoppers remain unnerved and have cut back spending on discretionary items. Analysts believe the company's earnings continue to be hurt by the rise in global commodity costs.
In September, Black & Decker announced that Michael D. Mangan was named senior VP of the corporation and president of the Worldwide Power Tools and Accessories business and said that Stephen F. Reeves will succeed Mangan as senior VP and CFO.