STOCK TITAN

Stanley Black & Decker, Inc. - SWK STOCK NEWS

Welcome to our dedicated page for Stanley Black & Decker news (Ticker: SWK), a resource for investors and traders seeking the latest updates and insights on Stanley Black & Decker stock.

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.

Rhea-AI Summary

Stanley Black & Decker (NYSE: SWK) announced its acquisition of the remaining 80% stake in MTD Holdings for $1.6 billion in cash. Previously, SWK held a 20% stake in MTD, acquired in 2019. This strategic move aims to create a global leader in the $25 billion outdoor category, enhancing growth opportunities amidst rising trends in home and garden consumer engagement and electrification. The acquisition is expected to yield $100 million in annual cost synergies by 2025 and boost adjusted earnings per share by $0.50 in 2022, increasing to over $1.00 by 2025.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.99%
Tags
-
Rhea-AI Summary

Stanley Black & Decker (NYSE: SWK) highlighted its DEWALT tools in an upcoming episode of 'Modern Marvels: Machines' on The HISTORY Channel, airing on August 15, 2021. CEO Jim Loree expressed pride in showcasing DEWALT's 175-year legacy, emphasizing quality power tools. The episode features advancements in manufacturing at the Ft. Mill, South Carolina facility, where DEWALT produces 80-100,000 units weekly. Viewers can expect insights into the DEWALT Impact Driver and a chance to win a prize pack by finding a special note included with the product.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.51%
Tags
none
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.64%
Tags
none
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.06%
Tags
none
-
Rhea-AI Summary

Stanley Black & Decker (SWK) reported strong second quarter 2021 financial results, with revenues reaching $4.3 billion, a 37% increase year-over-year. All segments contributed to a robust 33% organic growth. The gross margin rose to 35.9%, and diluted EPS jumped 93% to $2.81. The company raised its 2021 GAAP EPS guidance to $10.80 - $11.20, citing improved performance and demand. Notably, Tools & Storage sales soared 46%, driven by volume and innovation. The company remains optimistic about future growth, especially with a strong backlog and ongoing negotiations to acquire the remaining stake in MTD.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.12%
Tags
none
-
Rhea-AI Summary

Stanley Black & Decker (NYSE: SWK) announced a 13% increase in its quarterly cash dividend, raising it to $0.79 per share, marking the 54th consecutive annual dividend increase. The dividend is payable on September 21, 2021, to shareholders of record by September 7, 2021. CEO James M. Loree emphasized the company's confidence in its cash generation potential, highlighting the dividend's role in enhancing shareholder value and their strategy to allocate approximately half of excess capital to shareholders for the long term.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.97%
Tags
dividends
Rhea-AI Summary

Stanley Black & Decker has entered a multi-year partnership with McLaren Racing, becoming the Official Tools and Storage Partner for the Formula 1 team. This collaboration emphasizes shared values in innovation and technological advancement. DEWALT, a Stanley Black & Decker brand, will feature prominently on the McLaren MCL35M race cars and team gear. Both companies plan to engage fans through events that highlight their commitment to excellence. This partnership aims to strengthen Stanley Black & Decker’s visibility in the motorsports arena and connect with a passionate audience.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.42%
Tags
partnership
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.53%
Tags
none
-
Rhea-AI Summary

Stanley Black & Decker's CRAFTSMAN® brand is collaborating with the Ace Hardware Foundation and NASCAR driver Christopher Bell to support Children's Miracle Network Hospitals (CMN Hospitals) through the 2021 Racing for a Miracle program. Ahead of the July 11 race in Atlanta, they will donate $100,000, marking the 15th anniversary of their partnership. This year, CRAFTSMAN® will also contribute $10 for every purchase of select products during an in-store promotion. CMN Hospitals focuses on healthcare for children, serving millions annually.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.95%
Tags
none
Rhea-AI Summary

Stanley Black & Decker (NYSE: SWK) announced CEO Jim Loree's membership in the Council for Inclusive Capitalism, a nonprofit aimed at fostering an inclusive and sustainable economic system. This commitment aligns with the company's purpose of making a positive impact and emphasizes its focus on environmental, social, and governance (ESG) responsibilities. The company has set ambitious goals, including achieving gender parity in leadership and donating $10.5 million by 2025 to support racial equity initiatives, as part of its broader Corporate Social Responsibility strategy.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.29%
Tags
none

FAQ

What is the current stock price of Stanley Black & Decker (SWK)?

The current stock price of Stanley Black & Decker (SWK) is $82 as of December 20, 2024.

What is the market cap of Stanley Black & Decker (SWK)?

The market cap of Stanley Black & Decker (SWK) is approximately 12.4B.

What does Stanley Black & Decker do?

Stanley Black & Decker is a global leader in tools and outdoor products, manufacturing power tools, hand tools, storage solutions, and engineered fasteners. Its iconic brands include DEWALT, BLACK+DECKER, CRAFTSMAN, STANLEY, CUB CADET, and HUSTLER.

What are the main segments of Stanley Black & Decker?

The company operates in two main segments: Tools & Outdoor and Industrial. The Tools & Outdoor segment includes the Power Tools Group, Hand Tools, Accessories and Storage, and Outdoor Power Equipment. The Industrial segment focuses on engineered fastening systems.

Where does Stanley Black & Decker generate most of its revenue?

The majority of Stanley Black & Decker's revenue is generated from the United States, with significant contributions from Canada, Europe, Asia, and other regions.

What is the Global Cost Reduction Program?

The Global Cost Reduction Program is an initiative by Stanley Black & Decker aimed at optimizing the company's cost base and generating substantial savings. The program targets approximately $2 billion in pre-tax run-rate cost savings by the end of 2025.

How is Stanley Black & Decker committed to sustainability?

Stanley Black & Decker is committed to sustainability and global stewardship by advancing these principles across its entire value chain through its operations and workforce.

What recent achievements has Stanley Black & Decker made?

In the third quarter of 2023, Stanley Black & Decker reported improvements in adjusted gross margins and earnings per share. The company is also making significant progress with its Global Cost Reduction Program.

What is the DEWALT Trades Scholarship?

The DEWALT Trades Scholarship is an initiative by the DEWALT brand to support students pursuing careers in the trades. This scholarship is part of a broader effort to close the skilled trades gap in the U.S.

What are some of the iconic brands under Stanley Black & Decker?

Some iconic brands under Stanley Black & Decker include DEWALT, BLACK+DECKER, CRAFTSMAN, STANLEY, CUB CADET, and HUSTLER.

How does Stanley Black & Decker support innovation?

Stanley Black & Decker supports innovation by investing in new product development and strategic market activation, ensuring the delivery of high-quality, award-winning power tools and other industrial solutions.

What is the company's vision for the future?

Stanley Black & Decker's vision for the future includes being a sustainable company that advances global stewardship, supports its communities, and continues to innovate in the tools and outdoor industry.

Stanley Black & Decker, Inc.

NYSE:SWK

SWK Rankings

SWK Stock Data

12.39B
153.75M
0.26%
90.26%
3.01%
Tools & Accessories
Cutlery, Handtools & General Hardware
Link
United States of America
NEW BRITAIN