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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 the redemption of its Series C Cumulative Perpetual Convertible Preferred Stock, effective June 3, 2021. The redemption price is set at $1,002.50 per share, which includes the $1,000 liquidation preference and accrued dividends. Shareholders can convert their shares before June 2, 2021, with a combination settlement option. Following the redemption, dividends will cease on the shares called for redemption. Stanley Black & Decker, a leader in the tools and storage market, has a market capitalization of $14.5 billion.
Stanley Black & Decker (NYSE: SWK) reported robust first quarter 2021 results, with revenues of $4.2 billion, up 34% YoY, driven by strong organic growth of 31%. Gross margin increased to 37.3%, and diluted EPS rose 161% to $2.98. The company raised its 2021 EPS guidance to between $10.15 and $10.55. Key segments like Tools & Storage saw a remarkable 48% sales increase. Increased demand and strategic investments are expected to further enhance organic growth, with robust market trends positioning the company favorably for future growth.
Stanley Black & Decker (NYSE: SWK) announced a $12.50 dividend per preferred share for the second quarter, payable on May 17, 2021, to shareholders of record by May 14, 2021. This decision reflects the company's ongoing commitment to delivering value to its shareholders. As a diversified global provider of tools and security solutions, the company continues to demonstrate stability and confidence in its financial performance.
Stanley Black & Decker (NYSE: SWK) has announced a second quarter cash dividend of $0.70 per common share, reinforcing its status as a leader in consistent dividend payments among industrial companies on the NYSE. The dividend will be paid on June 22, 2021, to shareholders of record by the close of business on June 8, 2021. This announcement highlights the company's strong financial health and commitment to returning value to its shareholders.
Stanley Black & Decker (NYSE: SWK) has announced a partnership with six Major League Baseball teams for the 2021 MLB season, marking their 13th year collaborating with MLB. As the official tools sponsor, the company aims to promote its brands—DEWALT, STANLEY, and CRAFTSMAN—to millions of fans. The sponsorship includes stadium signage, hospitality experiences, and engagement opportunities for essential tradespeople. With $14.5 billion in revenue and 53,000 employees worldwide, Stanley Black & Decker focuses on celebrating its commitment to 'Those Who Make The World.'
Stanley Black & Decker (NYSE: SWK) will host its Q1 2021 earnings conference call on April 28, 2021, at 8:00 AM ET. Prior to the market opening on the same date, a financial results news release will be issued. A slide presentation will accompany the call, available on the company's website. The call can be accessed via a live webcast or by telephone at US (877) 930-8285 or international +1 (253) 336-8297, using conference ID 1498930. A replay will be available shortly after the call.
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.
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