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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) will host a live webcast on November 9, 2022, at 9:30 AM ET, featuring a presentation by President and CEO Don Allan during the Baird 2022 Industrial Conference in Chicago, IL. The webcast can be accessed via the Investors section of their website, with a replay available for 30 days. As a leading global tool company, Stanley Black & Decker employs around 60,000 people and is known for its innovative brands like DEWALT and BLACK+DECKER.
DEWALT has launched the IMPACT CONNECT™ system, featuring Copper Pipe Cutter and PVC/PEX Pipe Cutter attachments designed to convert select impact drivers into efficient cutting tools. This innovation aims to enhance user productivity, requiring 100X less effort than manual cutters. The Copper Pipe Cutter can perform 4X faster cuts with a maximum capacity of 1 inch, while the PVC/PEX Cutter achieves 6X faster cuts with up to 2-inch capacity. Available in late 2022, these attachments target professionals in plumbing, HVAC, and home renovation industries.
Stanley Black & Decker (NYSE: SWK) reported third quarter 2022 revenues of $4.1 billion, a 9% increase year-over-year, boosted by acquisitions in outdoor power equipment and industrial growth. Adjusted diluted EPS was $0.76, with a gross margin of 24.7%, down due to rising costs and lower sales volumes. The company also achieved $65 million in pre-tax savings through its cost reduction program, while reducing inventory by $290 million. However, it revised its full-year EPS guidance down to $0.10 to $0.80, reflecting challenges in European demand and inflationary pressures.
Stanley Black & Decker (NYSE: SWK) has announced a fourth quarter cash dividend of $0.80 per share, extending its record for the longest consecutive annual and quarterly dividend payments among industrial companies on the NYSE. The dividend is due on December 20, 2022 for shareholders of record as of December 1, 2022.
BLACK+DECKER, a Stanley Black & Decker brand (NYSE: SWK), has launched the reviva™ power tool line, featuring tools made with 50% certified recycled material from Eastman’s Tritan™ Renew. The cordless tools, including a drill driver, detail sander, jigsaw, and screwdriver, are available on Amazon and other retailers. Over the next three years, the company aims to divert over 10 million single-use plastic bottles from landfills to produce the reviva™ line, aligning with their sustainability goals.
BLACK+DECKER has launched the kitchen wand™, its first cordless kitchen multi-tool designed for various cooking applications. This versatile tool boasts a runtime of up to 30 minutes, allowing users to blend up to 75 bowls of soup per charge. Six attachments, including an immersion blender, whisk, and can opener, are available for purchase. The kitchen wand™ comes in three colors and includes features such as variable speed settings and a charge indicator. The product aims to enhance kitchen efficiency while minimizing clutter by replacing multiple appliances.
Stanley Black & Decker (NYSE: SWK) announced that its brands, including DEWALT and CRAFTSMAN, won several 2022 Pro Tool Innovation Awards. Over 465 entries were evaluated to recognize innovative products across various categories.
Key winners included DEWALT's PVC/PEX Cutter Attachment and BLACK+DECKER's reviva tools, made from 50% recycled materials. This achievement underscores the company’s commitment to innovation and sustainability in power tools and outdoor equipment.
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