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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) announced its recognition with 14 awards from Popular Mechanics for exceptional tools and storage solutions in 2021. Winning products were tested among over 1,000 tools, showcasing reliability, quality, and value. The awarded tools included the DEWALT 20V MAX* Brushless Circular Saw and CRAFTSMAN V20* tools, representing diverse categories like power tools and storage. The company emphasized that these accolades reflect its commitment to innovation and meeting customer demands.
Stanley Black & Decker (NYSE: SWK) is set to present at the Bank of America Global Industrials Conference 2021 on March 16, 2021, at 12:30 PM ET. The presentation will be led by President & CFO Don Allan and will be accessible via a live webcast on the company's website. A replay will also be available for 30 days after the event. As a leading provider of tools and security solutions, Stanley Black & Decker continues to engage with its investors through such informative sessions.
Stanley Black & Decker (NYSE: SWK) announced its participation in the Raymond James 42nd Annual Institutional Investors Conference on March 2, 2021, at 10:00 AM ET. CEO Jim Loree will present a virtual session, accessible via a live webcast on the company's website. A replay will be available for 30 days post-event. Stanley Black & Decker is a leading global provider of tools and security solutions.
Stanley Black & Decker (NYSE: SWK) appointed Donald Allan, Jr. as President and CFO, effective Feb. 23, 2021. Allan, a long-term employee, will expand his role to include leading the company's strategy and operating model while overseeing various business segments. He has been pivotal in the company’s transformation to a global industrial leader, achieving revenues close to $15 billion in 2020. The CEO praised Allan's values-based leadership and impact on the company’s performance.
Stanley Black & Decker (NYSE: SWK) announced a regular first quarter cash dividend of $0.70 per common share, marking its status as a leader in consecutive annual and quarterly dividend payments among industrial firms on the New York Stock Exchange. This dividend is scheduled for payment on March 23, 2021, to shareholders of record as of March 9, 2021. The company continues to show confidence in returning value to its shareholders, underlining its robust financial position.
Stanley Black & Decker (NYSE: SWK) announced the election of Jane Palmieri, President of Industrial Intermediates & Infrastructure for Dow, and Mojdeh Poul, Executive Vice President of 3M's Health Care Business Group, to its Board of Directors. The Chairman, George W. Buckley, highlighted their extensive global experience and leadership in engineering as assets to the company. This move aims to bolster the board's focus on ESG, health, and safety, while advancing the company’s long-term growth and financial performance objectives.
Stanley Black & Decker (NYSE: SWK) will host a virtual presentation at the Barclays Industrial Select Conference on February 16, 2021, at 12:10 PM ET. The presentation will be led by Don Allan, Executive Vice President and CFO. Investors can access the live webcast via the Investors section of the company's website, with a replay available for 30 days post-event. Stanley Black & Decker, a major player in the hand and power tools industry, emphasizes its commitment to delivering quality and innovation across various sectors.
Stanley Black & Decker (NYSE: SWK) is excited to kick off the 2021 NASCAR season, continuing its partnership with Joe Gibbs Racing for the seventh year. The lineup features drivers Christopher Bell, Martin Truex Jr., and Kyle Busch representing brands like DEWALT and CRAFTSMAN throughout the season. Key races include the Daytona 500 on February 14, where Bell will drive the #20 DEWALT Toyota Camry. The partnership also supports community initiatives like the Racing for a Miracle program, which contributed $100,000 to Children's Miracle Network Hospitals in 2020.
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