Shares of Stanley Black & Decker Inc. /zigman2/quotes/206369278/composite SWK +3.07% were indicated down about 3% in premarket trading Thursday, after the tools maker reported third-quarter profit and revenue that topped expectations but cut its full-year outlook, citing the negative effects of commodity, transit and labor inflation. Net income rose to $414.2 million, or $2.56 a share, from $385.5 million, or $2.44 a share, in th year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $2.77, above the FactSet consensus of $2.47. Sales grew 10.7% to $4.26 billion, above the FactSet consensus of $4.25 billion, as tools and storage sales increased 14%, security sales rose 5% and industrial sales grew 1%. Cost of sales jumped 16.1% to $2.87 billion, as gross profit as a percent of sales fell to 32.6% from 35.7%. With commodity, transit and labor inflation expected to reduce full-year results by about $1.25 a share, the company cut its 2021 adjusted EPS guidance range to $10.90 to $11.10 from $11.35 to $11.65. ""We are prioritizing meeting demand in a universally difficult supply chain environment and are actively addressing the inflationary trends impacting the business with new targeted pricing actions and increased productivity measures," said Chief Executive James Loree. The stock has lost 4.7% over the past three months through Wednesday while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% has gained 3.4%.