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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.
DEWALT, a brand of Stanley Black & Decker (NYSE: SWK), has launched a new biodegradable chainsaw oil, the DXCC1201, certified as a USDA Biobased Product. This high-performance oil is made from North American-grown plant oils, aimed at reducing environmental pollution. Annually, about 20 million gallons of bar and chain oil are released into the environment, and DEWALT's new formula offers an eco-friendly alternative without petroleum or metal-based additives. It ensures compatibility with gas and battery-operated chainsaws and is available at various retail outlets.
On June 13, 2022, DEWALT, a Stanley Black & Decker brand, provided insights amid strong construction demand in the U.S., with new housing starts rising over 15% in 2021. DEWALT's President, Allison Nicolaidis, emphasized the need for modernizing job sites to improve efficiency. The company shared three key tips for homebuilders: embrace cordless tools for better mobility and safety, upgrade to advanced pouch cell battery technology for enhanced performance, and utilize connected solutions for streamlined operations. These advancements aim to help builders complete projects on time and within budget.
Allegion plc (NYSE: ALLE) has priced an offering of $600 million senior notes due 2032, guaranteed by Allegion, expected to close on June 22, 2022. Proceeds will finance the acquisition of Stanley Access Technologies from Stanley Black & Decker (NYSE: SWK), with the transaction expected in Q3 2022, pending regulatory approval. Allegion aims to enhance shareholder value through this strategic acquisition, which aligns with its growth plans. The offering has been managed by Goldman Sachs, BofA Securities, and J.P. Morgan.
Allegion plc (NYSE: ALLE) has announced a proposed public offering of senior notes through its subsidiary, Allegion US Holding. The proceeds will primarily fund the acquisition of Stanley Access Technologies LLC from Stanley Black & Decker (NYSE: SWK), expected to finalize in Q3 2022. If the acquisition does not proceed, funds will be allocated for general corporate purposes, including debt repayment. The offering is subject to market conditions and follows an effective registration statement filed with the SEC.
CRAFTSMAN, part of Stanley Black & Decker (NYSE: SWK), has expanded its V20* platform by introducing new tools aimed at professional users. The latest additions include the V20* BRUSHLESS RP™ Cordless Jig Saw and the 23GA Pin Nailer, among others. These tools are designed for high performance, including features like variable speed control, LED lights, and tool-free blade changes. The new products are available in stores and online, with plans for further additions to the V20* lineup throughout 2022.
Stanley Black & Decker (NYSE: SWK) has announced the appointment of Donald Allan, Jr. as the new CEO, effective July 1, 2022. He succeeds James M. Loree, who has led the company since 2016. Under Loree's leadership, annual revenues rose from $11 billion in 2016 to an expected $19 billion in 2022. The company reaffirmed its outlook for 2022, anticipating diluted EPS between $7.20 and $8.30 on a GAAP basis, with free cash flow projected at $1.0 to $1.5 billion. The company also plans to reallocate $200-$250 million to enhance supply chain productivity and expects $1 billion in value creation over five years.
Tulip Interfaces has been selected by Stanley Black & Decker (NYSE: SWK) to provide its Frontline Operations Platform for digital manufacturing solutions across all global factories. This partnership builds on a relationship established since 2018, showcasing the commitment to advanced manufacturing solutions. Jane Arnold, Vice President of Manufacturing Technology at Stanley Black & Decker, will join Tulip's Board of Directors. The collaboration is expected to drive long-term value and operational innovation.
On May 18, 2022, Stanley Black & Decker (NYSE: SWK) was recognized by 3BL Media as one of the 100 Best Corporate Citizens, ranking #71 overall and #6 in the Capital Goods Industry. This acknowledgment highlights the company's commitment to environmental, social, and governance (ESG) initiatives, assessed through 155 factors across eight pillars. CEO Jim Loree emphasized their dedication to societal betterment, stating a goal to enable 10 million creators and achieve carbon positivity by 2030, further underlining their Corporate Social Responsibility (CSR) strategy.
Stanley Black & Decker (NYSE: SWK) invites the public to join webcasts for two upcoming investor conferences. Don Allan, President and CFO, will present at the Wolfe Global Transportation & Industrials Conference on May 26, 2022, at 10:55 AM ET and the UBS Global Industrials and Transportation Conference on June 7, 2022, at 10:30 AM ET. Webcasts will be accessible through the company's website, with replays available for 30 days. Stanley Black & Decker operates globally, employing over 60,000 people and producing renowned brands like DEWALT and BLACK+DECKER.
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