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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.
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.
Stanley Black & Decker (NYSE: SWK) reported full year 2022 revenues of $16.9 billion, marking an 11% increase from the previous year. This growth was driven by acquisitions in outdoor power equipment and strong performance in the industrial segment.
The company achieved $200 million in pre-tax savings through its cost reduction program and generated over $500 million in free cash flow during Q4 2022. However, Q4 diluted GAAP EPS was ($0.72), influenced by inventory reduction strategies. For 2023, EPS guidance is set between ($1.65) to $0.85.
Evolv Technology (NASDAQ: EVLV) has partnered with STANLEY Security to implement its Evolv Express® AI weapons detection systems in the Niagara Falls City School District, New York. This installation has expedited school entry processes for over 6,000 students by replacing cumbersome traditional security measures. Initial results show significant improvements in ingress and detection efficiency, enhancing the overall experience. The move comes amid rising concerns of school violence, prompting a shift to more modern security solutions, with Evolv Express currently deployed in schools across 20 states.
Stanley Black & Decker (NYSE: SWK) appointed John T. Lucas as Senior Vice President and Chief Human Resources Officer (CHRO), effective January 30, 2023. Lucas, who has over 35 years of HR experience in Fortune 50 and Fortune 150 companies, will lead the global HR strategy and report to CEO Donald Allan, Jr. Deborah K. Wintner, the interim CHRO, takes on the role for the company's largest segment, Tools & Outdoor. Lucas's extensive background includes leadership roles at Lockheed Martin, Goodyear, Microsoft, Kodak, and Merck, and he aims to enhance the company’s organizational effectiveness as it undergoes business transformation.
Stanley Black & Decker (NYSE: SWK) appointed Patrick Hallinan as the new Executive Vice President and Chief Financial Officer, effective April 6. He succeeds interim CFO Corbin Walburger, who will return to his previous position as Vice President of Business Development. Hallinan previously served as CFO at Fortune Brands Innovations and brings extensive experience in finance and leadership from various roles in top consumer brands. CEO Donald Allan Jr. expressed confidence in Hallinan's ability to drive growth and efficiency during a significant transformation of the company.
Stanley Black & Decker (NYSE: SWK) announced the date for its fourth quarter and full year 2022 earnings webcast, set for February 2, 2023, at 8:00 AM ET. A detailed news release with financial results will be available before market opening on the same day. Investors can access the presentation and listen to the call through the company's website. Stanley Black & Decker is recognized as the world's largest tool company, producing innovative products under several iconic brands including DEWALT and CRAFTSMAN, and is committed to environmental, social, and governance initiatives.
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