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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 (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.
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.
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.
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.
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.
Stanley Black & Decker (NYSE: SWK) will hold its second quarter 2021 earnings conference call on July 27, 2021, at 8:00 AM ET. A news release detailing financial results will be issued before the market opens on the same day. Interested parties can access the call via a live webcast on the company’s website or by telephone. Stanley Black & Decker is an S&P 500 company valued at $14.5 billion, with over 53,000 employees in more than 60 countries.
On June 22, 2022, Don Allan, President and CFO of Stanley Black & Decker (NYSE:SWK), will testify before the Senate Finance Committee regarding manufacturing and supply chain resiliency. Allan emphasizes the necessity of a strategic U.S. trade agenda to foster economic recovery post-COVID, advocating for job creation and reconsideration of the Section 301 tariff regime on Chinese imports critical for U.S. manufacturing. Over the past decade, the company has focused on U.S.-based operations, contributing to local economies and increasing job opportunities.
On June 17, 2021, Stanley Black & Decker (NYSE: SWK) announced that it will recognize Juneteenth as a company holiday for all U.S. employees starting in 2022. This decision aligns with the recent federal recognition of June 19 as Juneteenth National Independence Day, marking the end of slavery in the United States. CEO Jim Loree emphasized the move as part of the company’s commitment to diversity and inclusion, supporting Black employees and communities. Additionally, the company will observe a 'Day of Hope & Healing' on June 18, 2021, to honor victims of racial violence.
On June 2, 2021, Stanley Black & Decker (NYSE: SWK) announced a virtual presentation by CEO Jim Loree at the UBS Global Industrials & Transportation Conference on June 9, 2021, at 10:00 AM ET. The webcast will be accessible in the 'Investors' section of the company's website, where a replay will be available for 30 days. As an S&P 500 company with $14.5 billion in revenue and 53,000 employees globally, Stanley Black & Decker leads in tools, security solutions, and engineered fastening.
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