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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 its third quarter 2020 earnings conference call on October 27, 2020, at 8:00 AM ET. A news release detailing financial results will precede the market opening on the same day. Accompanying slide presentation material will be available on their website. The conference call will be accessible via live webcast and telephone, with a replay offered two hours after the event. Stanley Black & Decker is a global provider of tools and security solutions.
Stanley Black & Decker (NYSE: SWK) will present at the Morgan Stanley Virtual 8th Annual Laguna Conference on September 17, 2020, at 9:45 AM ET. The presentation will be led by Jim Loree, President and CEO, and will be accessible via a live webcast on the company's website. A replay will be available for 30 days following the event. Stanley Black & Decker is a leading global provider of tools, electronic security, and healthcare solutions.
Stanley Black & Decker (NYSE: SWK) reported 2Q'20 revenues of $3.1 billion, a 16% decline year-over-year due to COVID-19 impacts. The operating margin rate fell by 200 basis points to 8.9%, though strong cost control and price realization helped mitigate losses. Diluted EPS was reported at $1.52, or $1.60 excluding charges. The company suspended its 2020 guidance but continues a $1 billion cost reduction program, achieving $175 million in savings in 2Q. Segment performance showed declines across Tools & Storage, Industrial, and Security, with particular improvements noted in DIY demand as the quarter progressed.
Stanley Black & Decker (NYSE: SWK) has announced a partnership with DeepHow to utilize its AI-driven platform for improving training and knowledge transfer among skilled workers. This initiative aims to enhance efficiency in training programs and promote a culture of safety. The collaboration will also help DeepHow expand its customer base in sectors like manufacturing and construction. With a focus on addressing the skilled labor shortage, this partnership seeks to create innovative solutions to meet industry challenges.
Stanley Black & Decker (NYSE: SWK) has approved a $0.01 increase in its quarterly cash dividend, raising it to $0.70 per share. This marks the 53rd consecutive annual dividend increase, showcasing the company's commitment to returning value to shareholders. The dividend is scheduled for payment on September 15, 2020, to shareholders recorded by the market close on September 1, 2020. CEO James M. Loree emphasized that this dividend reflects the company's strong financial health and ongoing capital deployment strategy.
Stanley Black & Decker (NYSE: SWK) announced its second quarter 2020 earnings conference call set for July 30, 2020, at 8:00 AM ET. A detailed financial results release will precede the call, and a slide presentation will be available on their website. Listeners can join via a live webcast or by telephone, with playback options also provided. This event is crucial as it will shed light on the company's performance amid the ongoing market challenges.
Stanley Black & Decker (NYSE:SWK) has been recognized in the 2020 100 Best Corporate Citizens ranking, achieving an overall rank of #45 and #6 in the Capital Goods Industry. This marks the company's first appearance on the list, which evaluates the ESG transparency and performance of the 1,000 largest public companies in the U.S. The ranking is based on 141 factors across eight pillars, including climate change and human rights. The company's CSR strategy aims to empower 10 million makers by 2030 and achieve carbon positivity in its operations.
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