Professional tools stocks fall after mixed Q1 results; HLMN, KMT, SNA decline

Professional tools and equipment stocks fell after mixed first-quarter results, with nine tracked companies beating revenue estimates by an average 1.9% while guiding second-quarter revenue 0.9% below consensus. Shares in the group are down an average 2.1% since reporting. Hillman (NASDAQ:HLMN) posted revenue of $370.1 million, up 3% year over year but 0.7% below estimates. Adjusted operating income missed expectations, while EPS matched consensus. Hillman raised full-year guidance by the most among the group, but its stock is down 3.9% since results, trading at $7.73. Kennametal (NYSE:KMT) delivered the strongest revenue growth, with sales up 21.8% to $592.6 million, 4.8% above estimates, though shares fell 3.9% to $36.05. Snap-on (NYSE:SNA) revenue rose 5.2% to $1.31 billion, beating estimates by 2.4%, but EBITDA missed. Stanley Black & Decker (NYSE:SWK) and Fortive (NYSE:FTV) also topped revenue expectations.