Stanley Black & Decker reported Engineered Fastening sales gained 3% to $501 million as volume (+4%), price (+1%), and currency (+1%) were partially offset by a product line transfer to Tools & Outdoor (-3%). Organic revenues climbed 5%, supported by the stronger than anticipated automotive market and continued strength in aerospace, partially offset by lower industrial volume.

Engineered Fastening segment margin declined to 11.9%, reflecting "elevated production costs in relation to a tough prior year comparable."

However, third quarter segment margin expanded by 470 basis points and adjusted segment margin expanded by 200 basis points sequentially as the automotive market improved.

Consolidated Q3 results included flat sales of $3.8 billion as price (+5%) and currency (+1%) were offset by volume (-6%). Gross margin rose 150 basis points to 31.4%, while adjusted gross margin increased 110 basis points to 31.6%.

Net earnings were 1.4% of sales versus 2.4% in the prior year.