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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 its participation in the Baird 2024 Global Industrial Conference in Chicago. Pat Hallinan, Executive Vice President and CFO, will deliver a presentation on Tuesday, November 12, 2024, at 2:55 PM CT (3:55 PM ET). The presentation will be accessible via live webcast in the 'Investors' section of the company's website, with a replay available for 30 days following the event.
Stanley Black & Decker (NYSE: SWK) reported Q3 2024 financial results with revenues of $3.8 billion, down 5% year-over-year. The company saw gross margin improvement to 29.9%, up 310 basis points, while adjusted gross margin reached 30.5%. GAAP EPS was $0.60, and adjusted EPS was $1.22. The company generated $286 million in operating cash flow and approximately $200 million in free cash flow. Management narrowed 2024 guidance, with GAAP EPS expected between $1.15-$1.75 and adjusted EPS between $3.90-$4.30. The company continues to execute its cost reduction program, targeting $2 billion in pre-tax run-rate savings by end of 2025.
Stanley Black & Decker (NYSE: SWK) has elected John L. Garrison, Jr. to its Board of Directors. Garrison, former Chairman, President, and CEO of Terex , brings over 30 years of experience in executing multi-level transformations across various industries. His expertise in developing financial and human capital strategies aligns with the company's focus on accelerating organic growth and margin expansion.
Garrison's career includes leadership roles at Bell Helicopter, E-Z-GO, Azurix , and Case He also served in the U.S. Army and taught at West Point. Currently, he serves on the Flowserve Board, chairing the Organization and Compensation Committee.
Stanley Black & Decker, founded in 1843, is a global leader in Tools and Outdoor, with approximately 50,000 employees worldwide. The company's portfolio includes trusted brands such as DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER, and Cub Cadet.
Stanley Black & Decker (NYSE: SWK), a global leader in Tools and Outdoor, has announced its fourth quarter cash dividend for 2024. The company's Board of Directors has approved a regular dividend of $0.82 per common share. This decision maintains SWK's record for the longest consecutive annual and quarterly dividend payments among industrial companies listed on the New York Stock Exchange. The dividend will be paid on December 17, 2024, to shareholders of record as of the close of business on November 29, 2024.
Stanley Black & Decker's (NYSE: SWK) outdoor power equipment brands Hustler®, Cub Cadet®, and DEWALT® are showcasing their products at Equip Expo 2024 in Louisville, Kentucky. The event, running from Oct. 15-18, features industry-leading innovations and best-in-class solutions for the professional landscape community.
Highlights include:
- Hustler's 60th anniversary celebration and new product lineup
- Cub Cadet's PRO X Series™ and PRO Z Series™ commercial mowers
- DEWALT's upcoming line of electric handheld products for commercial landscapers
The company also announced a partnership with Whisper Aero, Inc. to integrate WhisperDrive™ technology into their product portfolio, addressing the need for quiet yet powerful equipment.
CRAFTSMAN® has expanded its V20* BRUSHLESS RP™ power tool line, introducing new products designed for enhanced runtime and performance. The additions include a drill/driver, hammer drill, impact driver, screwdriver, 2-tool combo kit, and circular saw. These tools are engineered to provide more power and efficiency for various DIY projects.
Key features of the new products include:
- Drill/Driver Kit: Up to 60% more power and 34% faster drilling
- Hammer Drill: 34% faster drilling with up to 2,000 no-load RPM
- Impact Driver: Up to 55% faster driving and 24% more runtime
- Screwdriver: Drives up to 560 fasteners per charge
- Circular Saw: Delivers up to 4,500 no-load RPM for efficient cutting
Additionally, CRAFTSMAN CLUB® members can receive a free 4Ah battery with a $149+ purchase of qualifying CRAFTSMAN® products until October 31, 2024.
DEWALT, as part of its 100th anniversary celebration, honored 1,700 workers involved in the $19 billion transformation project of John F. Kennedy Airport in New York City. The event, which took place on Raymond DeWalt's birthday, included a thank you lunch for construction workers, product giveaways, and a NASCAR show car display. This initiative aligns with DEWALT's commitment to recognizing the contributions of trade professionals in building America's future.
The JFK Airport transformation project is a significant undertaking that will modernize and expand one of the world's busiest airports. DEWALT's gesture of appreciation highlights the importance of skilled workers in large-scale infrastructure projects and demonstrates the company's dedication to supporting the construction industry.
Mechanicsburg, Pennsylvania is celebrating Raymond DeWalt Day on October 9 to honor their hometown hero and the 100th anniversary of DEWALT, a Stanley Black & Decker brand. The event coincides with what would have been Raymond DeWalt's 139th birthday.
Raymond DeWalt revolutionized the construction industry with his innovative woodworking machine, an adjustable radial arm saw known as the 'DeWalt Wonder-Worker'. Mayor Jack Ritter, in partnership with DEWALT, has proclaimed October 9 as 'Raymond DeWalt Day'.
To honor DeWalt's legacy of supporting the trades, DEWALT is donating tools to Cumberland-Perry Area Vocational Technical School and Mechanicsburg High School. This celebration is part of a series of events commemorating the brand's centennial anniversary.
CRAFTSMAN®, a Stanley Black & Decker brand, offers tips and gear recommendations for tailgating season. With 20 to 50 million people tailgating annually, CRAFTSMAN provides cordless solutions and equipment for outdoor gatherings. Key products include:
1. V20* Speaker (CMCR001B) for high-quality sound
2. V20* High Pressure Inflator (CMCE521B) or 3-in-1 Inflator (CMXPTXA2001) for inflation tasks
3. V20* Misting Fan Kit (CMCE003C1) for cooling
4. V20* USB Power Source or Power Inverter (CMCB002B, CMCB1150B) for device charging
5. 2" X 27' Ratchet Straps (CMXAZBS10000F) for securing gear
CRAFTSMAN emphasizes proper planning and having the right equipment for successful tailgating experiences.
Hustler, a Stanley Black & Decker (NYSE: SWK) brand, is celebrating its 60th anniversary as a pioneer in the lawncare industry. The brand revolutionized the sector by introducing the world's first twin-lever zero-turn lawn mower in 1964. Inventor John Regier created this innovative mower, naming it after the U.S. Air Force B-58 Hustler fighter-bomber due to its speed, agility, and efficiency.
Excel Industries began production of the Hustler mower in 1964, and the brand has since expanded its product line with reliable equipment for landscape professionals. Now under Stanley Black & Decker, Hustler offers a full range of commercial and residential mowers, including the award-winning X-RIDE™.
To commemorate this milestone, Hustler will be present at this year's Equip Expo in Louisville, Kentucky from October 15-18. Attendees can visit Hustler's indoor and outdoor booths, and enter the Hustler Mentality trailer giveaway for a chance to win a utility trailer with two Hustler units.
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