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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 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.
STANLEY X has appointed Michelle Bockman as President, effective immediately. Bockman brings over 20 years of experience, including her role as CEO of 3D Control Systems. She will focus on growth and innovation in key areas such as internal startup incubation and partnerships. Donald Allan Jr., President and CFO of Stanley Black & Decker, emphasized Bockman’s impressive track record and vision for the industry, which is expected to enhance opportunities for Stanley. STANLEY X aims to address challenges in Construction, Manufacturing, and Workforce Technology.
Stanley Black & Decker (NYSE: SWK) will host virtual presentations at two upcoming investor conferences. President and CFO Don Allan will present at the Goldman Sachs Industrials and Materials Conference on May 12, 2022, at 1:00 PM ET, and at the J.P. Morgan Homebuilding & Building Products Conference on May 17, 2022, at 1:15 PM ET. Investors can access the live webcasts on the company's website, with replays available for 30 days after the events. The company operates nearly 50 manufacturing facilities in the USA and over 100 globally, employing more than 60,000 people.
DEWALT POWERSTACK™ 20V MAX* Compact Battery has been awarded the 2022 Concrete Contractor Top Products Award, marking a recognition for its innovative design and performance in the power tools industry. The battery boasts 50% more power, is 25% more compact, and 15% lighter than its predecessor, with a lifespan that is double its competitor. With an average rating of 4.8/5 on DEWALT.com, it is praised by users for significantly enhancing jobsite efficiency. DEWALT continues to lead in advancing battery technology, critical for professionals in construction and concrete industries.
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