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Stanley Black & Decker, Inc. (NYSE: SWK) is a global leader in tools and outdoor products, headquartered in the USA. Since its inception in 1843, the company has set the standard for excellence by delivering innovative, powerful tools that professionals rely on worldwide to build, repair, and protect valuable assets. The company's diverse portfolio includes iconic brands such as DEWALT, BLACK+DECKER, CRAFTSMAN, STANLEY, CUB CADET, and HUSTLER.
Stanley Black & Decker operates in two main segments: Tools & Outdoor and Industrial. The Tools & Outdoor segment, which generates the majority of the company's revenue, includes the Power Tools Group (PTG), Hand Tools, Accessories and Storage (HTAS), and Outdoor Power Equipment. The Industrial segment focuses on engineered fastening systems and other industrial solutions. Geographically, the company's revenue is primarily derived from the United States, with significant contributions from Canada, Europe, Asia, and other regions.
The company is committed to sustainability and global stewardship, aiming to advance these principles across its entire value chain through its operations and workforce. Stanley Black & Decker's recent achievements highlight its strategic business transformation, focusing on innovation, market activation, and cost efficiency. In the third quarter of 2023, the company reported improvements in adjusted gross margins and earnings per share, laying a solid foundation for future growth.
Stanley Black & Decker is also known for its proactive approach in response to market dynamics. The Global Cost Reduction Program, initiated to optimize the company's cost base, has generated substantial savings and improved inventory management, positioning the company for long-term growth and profitability. The program aims to achieve pre-tax run-rate cost savings of approximately $2 billion by the end of 2025.
In addition to its financial initiatives, Stanley Black & Decker emphasizes community support and educational advancement. The DEWALT brand, for instance, has launched the DEWALT Trades Scholarship, awarding scholarships to students pursuing careers in the trades, as part of a broader effort to close the skilled trades gap in the U.S.
With a rich history of innovation and a commitment to future growth, Stanley Black & Decker continues to be a driving force in the tools and outdoor industry, dedicated to supporting professionals and DIY enthusiasts alike.
Stanley Black & Decker (NYSE: SWK) has announced the launch of several innovative electric outdoor products under its CRAFTSMAN brand, enhancing its V20* and BRUSHLESS RP™ lines. These new offerings include battery-powered brushless riding mowers, such as the 56V MAX* 30-in. and 42-in. models, capable of mowing 1-2 acres on a single charge. The range also features a new 24 HP 54-in. Gas Zero-Turn Mower. Additionally, the expanded V20* BRUSHLESS RP™ line introduces tools like push mowers, string trimmers, pressure washers, and a multi-use garden tool kit. The company aims to meet the growing demand for electric outdoor power equipment, supported by a survey indicating that 71% of homeowners enjoy yard care. All products are available in stores and online.
Stanley Black & Decker (NYSE: SWK) will announce its first quarter 2023 earnings on May 4, 2023, with a conference call beginning at 8:00 AM ET. A news release detailing financial results will be available before the market opens on the same day. The call can be accessed via a webcast or teleconference, with links provided on the company's website under the 'Investors' section. A replay will be available two hours post-call. Stanley Black & Decker is renowned for its categories in tools and outdoor equipment, driven by a workforce of over 50,000 employees.
On March 20, 2023, Stanley Black & Decker announced changes in its manufacturing and distribution network as part of its 2022 business transformation strategy. These changes include expanding U.S. sites, transforming some into manufacturing centers of excellence, and consolidating operations. Specifically, the company will transfer operations from Cheraw, South Carolina to Jackson and Gallatin, Tennessee, closing its Fort Worth, Texas facility. Affected employees total 357, while 80 new jobs will be created in Tennessee. The restructuring aims to achieve $2 billion in cost savings, strengthen its core business, and ensure future growth.
STANLEY introduces its new CONTROL-LOCK™ tape measures, designed for strength and measuring control, suitable for professional jobsites. Available in lengths of 12-Ft to 30-Ft, these tapes feature a lightweight, compact design, an integrated finger brake for improved control, and a durable BladeArmor® coating. The lineup includes models priced between $8.99 and $18.99. STANLEY's commitment to innovation ensures that tradespeople can work with confidence and ease. The tapes come in recyclable packaging, advancing the company's sustainability efforts.
BLACK+DECKER showcased its latest innovations at The Inspired Home Show in Chicago from March 4-7, 2023. The highlight is the bev by BLACK+DECKER™ Cordless Cocktail Maker, launching in Spring 2023, enabling portable cocktail preparation. The product features include over 250 drinks per charge and customizable party modes. The BLACK+DECKER® kitchen wand™ expands with new attachments for food chopping and hand mixing, both available in March 2023. Additionally, the POWERSERIES Extreme™ MAX Cordless Stick Vacuum and SUMMITSERIES™ Select are introduced to enhance home cleaning efficiency, reflecting BLACK+DECKER’s commitment to innovation.
On March 1, 2023, Stanley Black & Decker (NYSE: SWK) announced the pricing of its offering of
Stanley Black & Decker (NYSE: SWK) is set to present at the Raymond James 44th Annual Institutional Investors Conference on March 7, 2023, at 9:15 AM ET in Orlando, FL. The presentation will be led by President and CEO Don Allan. Interested parties can join the live webcast via the company's Investors section of their website. A replay will be available for 30 days. Stanley Black & Decker is a leader in tools and outdoor manufacturing with over 50,000 employees, producing iconic brands such as DEWALT® and BLACK+DECKER®.
Stanley Black & Decker (NYSE: SWK) announces the return of its CRAFTSMAN® brand as the title sponsor of the NASCAR Truck Series, starting February 17, 2023, at Daytona International Speedway. CRAFTSMAN® previously held this position from 1995 to 2008. The announcement includes plans for exclusive Deal of the Race™ promotions, giveaways, and fan experiences throughout the season. Fans can access discounts on selected tools via QR codes displayed during NASCAR broadcasts. An interactive exhibit will be featured at Daytona, showcasing CRAFTSMAN® products with opportunities for fans to win prizes and meet drivers.
Stanley Black & Decker (NYSE: SWK) has declared a regular first quarter cash dividend of $0.80 per common share, reinforcing its status as having the longest consecutive annual and quarterly dividend payments among industrial companies on the New York Stock Exchange. This dividend will be payable on March 21, 2023, to shareholders on record by the close of business on March 7, 2023. With over 50,000 employees, the company continues to lead in tools and outdoor manufacturing, driving innovation through its renowned brands such as DEWALT® and BLACK+DECKER®.
Stanley Black & Decker (NYSE: SWK) will present at the Barclays Industrial Select Conference in Miami, FL on February 22, 2023, at 1:15 PM ET. The presentation will be led by Corbin Walburger, Vice President and Interim CFO. Investors and the public can access a live webcast on the company's website, with a replay available for 30 days.
Stanley Black & Decker is a global leader in tools and outdoor products, employing over 50,000 individuals worldwide. The company focuses on innovation through its renowned brands like DEWALT® and BLACK+DECKER®. Committed to sustainability, it emphasizes its role in supporting communities and stakeholders.
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