Stanley Black and Decker  tools
Stanley Black & Decker tools Bloomberg via Getty Images

Stanley Black & Decker Stock Jumps After Strong Earnings Report

Apr 21, 2017

Shares of Stanley Black & Decker hit an all-time high in midday trading Friday, jumping more than 3% after the company released a quarterly earnings report before the opening bell that beat analysts’ expectations.

The company reported a profit of $393.1 million on the back of $2.81 billion in revenue for the quarter. Both figures topped consensus estimates compiled by Zacks, which instantly spiked Stanley Black & Decker (swk) stock as investors once again took refuge in the company’s consistency and reliability.

So far this year, Stanley Black & Decker’s share price has risen nearly 18% and has performed spectacularly over the long run. After bottoming out below $25 in March 2009, the stock has posted gains every year and now sits 457% higher.

Stanley Black & Decker’s good fortune as of late appears to be tied to an upturn in the housing market. Although the housing start figures for March reported earlier this week were a bit underwhelming, coming in at only a 1.22 million seasonally adjusted annual rate, a portion of that soft number can be attributed to a spell of bad weather that struck a good portion of the company last month. February’s housing starts were much stronger, having been revised up to a 1.3 million unit pace. And even despite March’s relatively lackluster figures, homebuilding for the month was still up 9.2% over last year. January’s numbers were even better, coming in 10.6% higher than a year ago.

The rosy figures seem especially good for Stanley Black & Decker, whose tools and storage segment, which accounts for two-thirds of its revenue, brought in $1.85 billion in sales, up 9% over last year. The company’s smaller industrial segment, which brings in around 17% of revenue, grew 3% over last year, for a total of $472.6 million.

The outlook for Stanley Black & Decker for the year looks to be good. The company also revised its guidance upward, projecting earnings between $7.08 and $7.28 per share, up from $6.98 and $7.18, thanks to its recent purchases of Newell Tools and Craftsman Brands.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions