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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 its third-quarter 2022 earnings webcast on October 27, 2022, starting at 8:00 AM ET. A financial results news release will precede the market opening on the same day, and a slide presentation will accompany the call. Investors can access the webcast and register for the teleconference via the company's Investor Relations page. The event will also feature a replay available two hours post-call.
Stanley Black & Decker (NYSE: SWK) has teamed up with TerraCycle to launch a free recycling program aimed at reducing waste from tools and home appliances equipped with lithium-ion batteries. This initiative aligns with the company's Environmental, Social and Governance (ESG) strategy, emphasizing sustainability. Eligible products include a variety of tools and appliances from brands like BLACK+DECKER and DEWALT. Customers can sign up online and send in their products using prepaid shipping labels. This effort is part of the company's commitment to creating a more sustainable world.
DEWALT has announced that its POWERSTACK™ 20V MAX* Compact Battery has been recognized as a finalist in Fast Company's 2022 Innovation By Design Awards. This award highlights DEWALT's innovative battery technology as the world's first major power tool brand to use pouch cell batteries, delivering the lightest and most powerful compact battery. The product, ideal for various construction applications, has garnered significant acclaim and demand since its launch in October 2021. DEWALT aims to expand its POWERSTACK™ platform with more powerful products.
Stanley Black & Decker (NYSE: SWK) will present at the Morgan Stanley 10th Annual Laguna Conference on September 14, 2022, at 3:15 PM ET. The presentation will be led by Don Allan, the company's President and CEO. Investors can join the live webcast on the company’s website, with a replay available for 30 days after the event. Stanley Black & Decker, headquartered in the USA, is the world's largest tool company with a diverse workforce and a focus on innovation and sustainability.
Stanley Black & Decker (NYSE: SWK) announced that CRAFTSMAN will return as the title sponsor of the NASCAR Truck Series starting February 17, 2023. The partnership marks CRAFTSMAN's homecoming after sponsoring the series from 1995 to 2008. Additionally, Stanley Black & Decker becomes the 'Official Tools Partner of NASCAR,' enhancing brand visibility across NASCAR events. The sponsorship includes exclusive brand integrations and promotional rights, aligning the CRAFTSMAN brand with the authenticity of NASCAR racing culture, while supporting product launches and seasonal promotions.
Stanley Black & Decker (NYSE: SWK) announced the election of Robert J. Manning to its Board of Directors on Aug. 4, 2022. Manning brings over 30 years of financial services experience and leadership, having previously served as Chairman and CEO of MFS Investment Management. His expertise in corporate value and ESG strategies is expected to enhance the Board's capability in maximizing long-term stakeholder value. Manning expressed his enthusiasm for joining the iconic company, which operates nearly 50 manufacturing facilities in the USA.
Stanley Black & Decker (NYSE: SWK) reported Q2 2022 revenues of $4.4 billion, a 16% increase from the previous year, fueled by acquisitions and price increases. The company completed divestitures generating $4.1 billion in cash, enhancing its balance sheet. A global cost reduction program aims to deliver $1 billion in savings by the end of 2023, increasing to $2 billion over three years. However, the adjusted EPS guidance for 2022 has been significantly lowered to a range of $0.80 - $2.05 due to declining consumer demand and economic headwinds.
Allegion plc (NYSE: ALLE) reported Q2 2022 net earnings per share (EPS) of $1.30, slightly down from $1.31 in 2021. Adjusted EPS rose 3.8% to $1.37. Revenues reached $773.1 million, a 3.5% increase year-over-year. Operating margin decreased to 19% from 19.5%, while adjusted operating margin improved to 20%. The company revised its 2022 revenue outlook to 13-14% growth, with EPS guidance of $5.05 to $5.15. The Access Technologies acquisition closed on July 5, 2022, which is expected to impact EPS negatively by $0.10 for the year due to operational costs.
Stanley Black & Decker (NYSE: SWK) has completed the sale of its Security assets to Securitas AB for $3.2 billion in cash. This divestiture, announced on December 8, 2021, will focus the company on its core businesses, including Tools and Outdoor and Industrial sectors. The sale is projected to reduce debt and fund a $2.3 billion share repurchase. In 2021, the Security division generated approximately $1.6 billion in revenue with a low double-digit adjusted EBITDA margin, highlighting the strategic transformation of the business.
BLACK+DECKER has launched the bev by BLACK+DECKER™ Cocktail Maker, now available on Amazon and other retailers. This innovative single-serve machine allows users to make custom cocktails in approximately 30 seconds, featuring an easy-load system for up to five liquor bottles. It offers customizable drink strengths and a 'party mode' with LED sequences. Priced at $299, the cocktail maker also won the 2022 Gadget Award for 'Best Cocktail Machine'. With its launch, BLACK+DECKER aims to enhance home entertaining experiences.
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