Time to retool

Shares in Stanley Black & Decker posted their worst skid in more than five years Tuesday after the tool maker gave a disappointing 2019 profit forecast.

The company, which makes power tools but also has divisions that provide storage solutions and electronic security, reported fourth-quarter results that exceeded Wall Street’s estimates, even though the company’s earnings declined.

Traders focused on the company’s

2019 profit outlook, which came in below financial analysts’ forecasts.

Stanley Black & Decker has been grappling with higher costs amid rising commodity prices and tariffs from the long-running U.S.-China trade dispute. In response, management has launched a cost-cutting plan projected to save $250 million in 2019.

Shares in the New Britain, Connecticut-based company slid 15.4 percent on Tuesday. The stock has declined about 33 percent over the past 12 months.