Stanley Black & Decker, Inc. SWK is slated to report third-quarter 2021 results on Oct 28, before market open.The company delivered better-than-expected results in the last four quarters, with an earnings surprise of 11.87%, on average. In the last reported quarter, the company’s earnings of $3.08 per share surpassed the Zacks Consensus Estimate of $2.89 by 6.57%.In the past three months, shares of Stanley Black have lost 6.2% compared with the industry’s decline of 3.1%. Image Source: Zacks Investment Research Let us delve deeper.Key Factors & Estimates for Q3Healthy demand — as reflected in the year-over-year improvement in Tools & Storage, Industrial and Security sales — as well as solid product offerings and a focus on innovation were beneficial for Stanley Black in the second quarter. The impacts of the same trend are expected to get reflected in the third-quarter results as well. Also, solid e-commerce business; demand for health, safety, home improvement and electrification products; synergistic gains from acquired assets, price and productivity actions; and cost actions are likely to have been other tailwinds.Notably, a recovery in economic activities in the United States and globally is expected to have played an important role in product demand for Stanley Black and other industrial players. Industrial production in the United States expanded 4.3% year over year in the third quarter. However, the same decreased 1.3% in September from the previous month. It was down 0.1% in August and up 1% in July. The monthly setback primarily reflects the impacts of shortages of semiconductor chips in the market.In addition to market challenges, Stanley Black is anticipated to have suffered from headwinds related to cost inflation, especially those related to commodity costs and transit costs in Tools & Storage, in the third quarter. High debts and the adverse impacts of divestitures are also expected to have ailed.For the third quarter of 2021, Stanley Black anticipates year-over-year organic sales growth of 9-12%. The projection has been made per the company’s scenario planning. Earnings in the quarter are expected to be 21.5% of the yearly projection of $11.35-$11.65 per share.The Zacks Consensus Estimate for revenues is pegged at $4,260 million for the third quarter of 2021, suggesting a 10.6% increase from the year-ago quarter’s reported number and a 1% decline from the previous quarter’s reported figure. Likewise, earnings estimates are pegged at $2.47, indicating a decrease of 14.5% from the year-ago reported figure and a 19.8% fall from the previous quarter’s reported number.The Tools & Storage segment is believed to have benefited from the refill in customer inventory and solid demand for products. The Zacks Consensus Estimate for the Tools & Storage segment’s revenues is pegged at $3,167 million, indicating a 12.9% increase from the year-ago reported figure and a 0.9% decline sequentially.For the Industrial segment, moderate assumptions for the oil & gas businesses are likely to have impacted the performance. The Zacks Consensus Estimate for third-quarter revenues is pegged at $605 million, suggesting year-over-year and sequential growth of 3.1% and 0.5%, respectively.The Security segment is believed to have gained from healthy demand for technology and data-based products, health and safety solutions, and a solid backlog for commercial electronic security products. The Zack Consensus Estimate for third-quarter sales is pegged at $489 million, indicating a 6.3% increase from the year-ago reported figure and a 2.6% decline sequentially.Earnings WhispersOur proven model does not conclusively predict an earnings beat for Stanley Black this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. The case with Stanley Black & Decker is shown below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Earnings ESP: Stanley Black has an Earnings ESP of -2.23%, with the Most Accurate Estimate of $2.41 below the Zacks Consensus Estimate of $2.47.Stanley Black & Decker, Inc. Price, Consensus and EPS Surprise Stanley Black & Decker, Inc. price-consensus-eps-surprise-chart | Stanley Black & Decker, Inc. QuoteZacks Rank: The company currently has a Zacks Rank #3.Stocks to ConsiderHere are some companies in the Zacks Industrial Products sector that you may want to consider as according to our model these have the right combination of elements to post an earnings beat this quarter.Deere & Company DE presently has an Earnings ESP of +5.55% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Columbus McKinnon Corporation CMCO currently has an Earnings ESP of +5.26% and a Zacks Rank #2.Plug Power, Inc. PLUG presently has an Earnings ESP of +16.28% and a Zacks Rank #3. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Stanley Black & Decker, Inc. (SWK): Free Stock Analysis Report Deere & Company (DE): Free Stock Analysis Report Plug Power, Inc. (PLUG): Free Stock Analysis Report Columbus McKinnon Corporation (CMCO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research