July 30 (Reuters) - Stanley Black & Decker ( SWK ) on

Tuesday beat Wall Street estimates for second-quarter profit,

helped by higher margins for its products arising from

cost-savings measures implemented.

The Connecticut-based company provides hand tools, power

tools and industrial products to home improvement retailers,

construction businesses and manufacturers.

It reported an adjusted profit of $1.09 per share, compared

with analysts' estimates of 84 cents per share, as per LSEG

data.

The company's cost-cutting measures, including headcount

reductions and paring supply chain-related expenses, implemented

over the last few years and price hikes for certain products

helped it navigate inflationary pressures.

Its cost-reduction program is expected to gain pre-tax

run rate savings of $1.5 billion by the end of 2024 and $2

billion by the end of 2025.

"We remain focused on implementing supply chain improvements

designed to reshape our cost structure and expand margins,

delivering earnings growth and generating strong cash flow,"

said CEO Donald Allan Jr.

The company lifted the lower end of its adjusted annual

profit forecast range to $3.70 to $4.50 per share, from the

previous $3.50 to $4.50 per share.

It, however, cut its annual GAAP profit forecast to $0.90 to

$2.00 per share, from its earlier view of $1.60 to $2.85, owing

to quarterly environmental charges and restructuring costs.

Total revenue for the quarter fell 3% to $4.024 billion in

the quarter on softening demand, but came in slightly above

estimates of $4.016 billion, as per LSEG data.