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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) 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.
Stanley Black & Decker (NYSE: SWK) reported strong Q4 and full-year 2020 results. Q4 revenues reached $4.4 billion, a 19% increase year-over-year, driven by 16% organic growth. Gross margin was 35.6%, up 390 basis points, while diluted EPS was $3.29, marking a 51% rise. Full-year revenue totaled $14.5 billion, up 1%, supported by a robust second half. Free cash flow hit a record $1.7 billion, up 55%. For 2021, the company projects diluted EPS between $9.15 and $9.85 and anticipates positive organic growth.
Stanley Black & Decker (NYSE: SWK) has announced a first-quarter dividend of $12.50 per preferred share on its Series C Cumulative Perpetual Convertible Preferred Stock. The dividend will be paid on February 15, 2021, to shareholders recorded by the end of February 12, 2021. This decision highlights the company's commitment to returning value to its shareholders. Stanley Black & Decker, an S&P 500 company, operates as a diversified provider of tools, security solutions, and healthcare products.
Stanley Black & Decker (NYSE: SWK) upgraded its 2020 planning assumptions, expecting fourth quarter organic growth to approach 10% (up from 3%-5%). The full year operating margin dollar growth is projected at 7%-9% compared to 2019, surpassing previous mid-single digit expectations. Free cash flow is now estimated to exceed $1 billion, exceeding prior estimates of $800-$900 million. These revisions stem from strong demand in Tools and Storage across North America, Europe, and emerging markets, alongside robust performance in Engineered Fastening.
Stanley Black & Decker (NYSE: SWK) has achieved recognition from the environmental non-profit CDP, making its 'A List' for corporate sustainability for the third consecutive year. The company has been acknowledged for its leadership in tackling climate change and protecting water security. With a total of seven Climate A List and four Water A List distinctions, the firm is committed to a sustainable future, aligned with the United Nations' 2030 Sustainable Development Goals. By 2030, it aims to empower 10 million creators, enhance the lives of 500 million people, and achieve carbon positivity.
Stanley Black & Decker (NYSE: SWK) announced a virtual presentation at the Baird 2020 Global Industrial Conference on November 10, 2020, at 9:05 AM ET. The presentation will feature Don Allan, Executive Vice President and CFO, and will be 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 provider of tools, security solutions, and fastening systems, listed on the S&P 500.
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