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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.
PORTER-CABLE and Tractor Supply Company (NASDAQ: TSCO) have announced a strategic partnership to enhance accessibility to PORTER-CABLE tools in the U.S. Starting in Q4 2021, PORTER-CABLE products will be available in Tractor Supply stores nationwide, alongside exclusive new cordless innovations planned for 2022. This collaboration aims to cater to the strong demand from Tractor Supply's customer base, which includes nearly 12 million current PORTER-CABLE battery platform users. The partnership also features shared support for agriculture through the sponsorship of the Farm Aid concert on September 25, 2021.
Starting October 1, nonprofits can apply for grants from Stanley Black & Decker's $25 million "Empower Makers Global Impact Challenge" aimed at enhancing vocational skills training in construction and manufacturing. The initiative addresses a significant skills gap, with 430,000 open construction jobs in the U.S. and 10 million unfilled manufacturing jobs worldwide, worsened by the pandemic. The goal is to empower 3 million makers over five years, promoting trade careers as financially rewarding alternatives to traditional college paths.
Stanley Black & Decker (NYSE: SWK) has announced its agreement to acquire Excel Industries for $375 million in cash. Excel, known for its commercial and residential turf-care equipment, is projected to generate over $375 million in revenue for 2021. This acquisition is expected to enhance Stanley's outdoor products portfolio and is projected to be accretive to EPS by $0.15 to $0.20 in three years. The deal is subject to regulatory approvals and standard closing conditions.
Stanley Black & Decker (NYSE: SWK) will host a virtual presentation led by President and CFO Don Allan at the Morgan Stanley Virtual 9th Annual Laguna Conference on September 13, 2021, at 3:45 PM ET. The live webcast will be accessible in the 'Investors' section of their website, with a replay available for 30 days. As a leader in the tools and storage industry, Stanley Black & Decker operates globally with approximately $14.5 billion in revenue and 56,000 employees across over 60 countries.
DEWALT, a leading brand of Stanley Black & Decker (NYSE: SWK), announces its debut in college football for the 2021-2022 season. This innovative sponsorship includes 25 universities across five Division 1 conferences, displaying the DEWALT logo on in-stadium team benches. The benches, exclusively installed with DEWALT tools, will enhance the brand's visibility among sports fans. Launching on Sept. 2 during the Minnesota vs. Ohio State game, this marks a significant milestone for DEWALT's marketing strategy, aimed at connecting with passionate supporters of college athletics.
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.
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.
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