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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.
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.
DEWALT, part of Stanley Black & Decker (NYSE: SWK), is set to showcase new products at the World of Concrete Trade Show in Las Vegas from January 18-20, 2022. Highlighted products include the 60V MAX* Cordless SDS MAX Chipping Hammers, delivering 19.4 Joules of impact energy, and American-made Critical Connection Undercut Anchors. Additional launches include two 20V MAX* XR® drills. These innovations cater to concrete and masonry work, focusing on efficiency and compliance with safety standards.
Stanley Black & Decker (NYSE: SWK) announced it will hold its fourth quarter and full year 2021 earnings conference call on Tuesday, February 1, 2022, at 8:00 AM ET. A news release detailing the financial results will be issued before the market opens on the same day. Alongside the call, a slide presentation will be available on the company’s website. Stanley Black & Decker operates a $14.5 billion diversified industrial business with over 56,000 employees globally, recognized as a leader in tools, products, and engineered solutions.
Stanley Black & Decker (NYSE: SWK) has donated over 600 DEWALT and STANLEY tools to ToolBank USA, supporting communities in Kentucky, Illinois, and Tennessee affected by recent tornadoes. The tools will aid disaster relief and rebuilding efforts at no cost to organizations and volunteers. The company also supports the American Red Cross's disaster giving program and assists its impacted employees through the HOME Fund. This partnership exemplifies the company’s commitment to community support and rebuilding efforts following natural disasters.
Stanley Black & Decker (NYSE: SWK) has been recognized for the fourth consecutive year by the environmental non-profit CDP for its leadership in climate action and water security, achieving CDP Leadership Status for the eighth year. The company secured a double 'A' score, placing it among 40 firms out of nearly 12,000 evaluated. This recognition underscores the company's commitment to environmental, social, and governance (ESG) goals, including significant actions on climate risks. The full list of recognized companies is available on the CDP website.
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