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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 webcast presentation by President and CFO Don Allan at the Raymond James 43rd Institutional Investors Conference on March 7, 2022, at 11:35 AM ET. Interested parties can access the live event via the 'Investors' section of the company's website. A replay will be available for 30 days. As the largest tool company globally, Stanley Black & Decker employs over 60,000 staff and operates nearly 50 manufacturing facilities in the USA, producing well-known brands like DEWALT and CRAFTSMAN.
Desktop Metal (NYSE:DM) has successfully shipped its first Production System™ P-50 printer to Stanley Black & Decker (NYSE:SWK). This milestone signifies the commercialization of Desktop Metal's advanced additive manufacturing technology, enabling mass production of metal parts. The P-50 is designed for high-performance output and is expected to be up to 100 times faster than traditional methods, with a production capacity reaching millions of parts annually. This development follows a $100 million investment and four years of dedicated research and development.
Stanley Black & Decker (NYSE: SWK) has priced its offering of $500 million in 2.300% Senior Notes due 2025 and $500 million in 3.000% Senior Notes due 2032. The notes will be offered at 99.865% and 99.810% of par, respectively, and the offering is expected to close on February 24, 2022. The net proceeds of approximately $991.9 million will be used for general corporate purposes, including repayment of debt. The issuance is subject to customary closing conditions and will comply with SEC regulations.
Stanley Black & Decker (NYSE: SWK) will host a webcast of a presentation by Don Allan, President and CFO, at the Barclays Industrial Select Conference on February 24, 2022, at 10:20 AM ET. Interested parties can access the live webcast via the company's website. A replay will be available for 30 days. Stanley Black & Decker, the largest tool company globally, operates nearly 50 manufacturing sites in the USA and over 100 worldwide, producing a range of innovative tools and equipment.
Stanley Black & Decker (NYSE: SWK) announced the election of Andrea J. Ayers as Chair of the Board, effective April 22, 2022. George W. Buckley will retire after 15 years of service. The Board also welcomed Adrian V. Mitchell, CFO of Macy's, Inc., as a new director. Ayers commended Buckley for his leadership, noting the company's growth post-merger. Mitchell brings extensive financial and operational expertise, aiming to advance Stanley Black & Decker’s long-term strategy and shareholder value. This leadership transition underscores the company's commitment to innovation and performance.
On February 16, 2022, Stanley Black & Decker (NYSE: SWK) announced a regular first quarter cash dividend of $0.79 per common share. This move extends the company's record for the longest consecutive annual and quarterly dividend payments among industrial companies on the NYSE. Shareholders of record as of March 8, 2022 will receive the dividend on March 22, 2022. Stanley Black & Decker operates nearly 50 manufacturing facilities in the USA and over 100 globally, producing a wide range of power tools and other industrial equipment.
On February 15, 2022, Stanley Black & Decker (NYSE: SWK) announced the selection of ten startups for its 2022 STANLEY+Techstars Accelerator. The program targets innovations in electrification, featuring startups developing advanced battery technologies, recyclable materials, and automation solutions. The three-month program will kick off in Baltimore, culminating in a demo day in May. The diverse cohort includes companies from the USA, Canada, Germany, and Ireland, and aims to foster advancements that enhance energy efficiency and contribute to the electrification of consumer and industrial products.
BLACK+DECKER, a Stanley Black & Decker brand, has partnered with Bartesian to launch the bev by BLACK+DECKER single-serve cocktail maker by late spring 2022. This innovative product allows users to create craft cocktails at home with a selection for five liquors and customizable drink strengths. It is exclusively compatible with Bartesian's premium cocktail capsules, priced at $14.99 for a pack of six. The bev will be available for $299 on Amazon. This collaboration aims to expand market reach and improve consumer access to Bartesian’s cocktail capsules.
Stanley Black & Decker (NYSE: SWK) reported fourth-quarter and full-year 2021 financial results, revealing a 20% revenue growth to $15.6 billion and record 17% organic revenue growth. Fourth-quarter revenue reached $4.1 billion, up 2% year-over-year, with diluted GAAP EPS at $1.77. Excluding charges, diluted EPS was $2.14. The company anticipates a $4 billion share repurchase program in 2022 and projects full-year diluted EPS between $10.10 and $10.70. Despite challenges in supply chain logistics impacting volume, Stanley Black & Decker remains focused on delivering growth and shareholder value.
Stanley Black & Decker (NYSE: SWK) announced plans to restate its consolidated financial statements following SEC comments regarding its Equity Units. The correction will reduce diluted GAAP earnings per share by $0.31, $0.24, and $0.14 for the fiscal years ended January 2, 2021, December 28, 2019, and December 29, 2018, respectively. Despite these adjustments, historical net earnings remain unchanged, and debt compliance is unaffected. The changes, endorsed by the Audit Committee, will be filed with the SEC.
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