Stanley Black - SWK STOCK NEWS

DEWALT and WorldSkills International conducted a global survey of young trade professionals competing at WorldSkills Competition 2024. Key findings include:

- 44% say social media inspired their career choice
- 75% plan to use social media to promote skilled careers
- 42% cite social stigma as a barrier to entering trades
- 35% mention lack of parental support as an obstacle

To inspire the next generation, DEWALT encourages tradespeople to promote their trade on social media using #TradeProud. The survey highlights the need for innovative approaches to present skilled career options and challenge outdated perceptions. DEWALT's Grow the Trades program commits $30 million over five years to address the skilled trades gap in the US, Mexico, and Europe.

White Cap and DEWALT have announced their second annual partnership to support St. Jude Children's Research Hospital. The collaboration includes a special dedication on the #20 DEWALT car at the Bristol Motor Speedway on September 21, 2024, honoring a $175,000 donation from DEWALT to St. Jude. Additionally, DEWALT will donate another $25,000 through the purchase of select products at participating White Cap branches.

The partnership aims to raise awareness for childhood cancer research during Childhood Cancer Awareness Month. The #20 racecar, driven by Christopher Bell, will feature artwork by St. Jude patients. The total donation has doubled since last year, supporting St. Jude's mission to improve childhood cancer survival rates globally.

DEWALT, a Stanley Black & Decker (NYSE: SWK) brand, has unveiled the TOUGHSYSTEM® 2.0 DXL™, the industry's first 30 in. modular storage system with a functional workstation. This new lineup includes four 30 in. products: a Worktop, Deep Drawer Unit, 2-Drawer Unit, and Dolly. These products are designed for optimal productivity, easy transport, and durability in tough jobsite conditions.

Key features include:

• Compatibility with existing TOUGHSYSTEM® 2.0 products
• Fit under most truck covers
• Customizable configurations
• Waist-high workstation
• Truck-ready modules
• Tool security features

The products will be available in October through DEWALT's sales channels. This launch aligns with DEWALT's 100th anniversary and commitment to providing total jobsite solutions.

Stanley Black & Decker (NYSE: SWK) has announced its participation in the Morgan Stanley 12th Annual Laguna Conference. The event will take place on September 12, 2024, in Dana Point, CA. Pat Hallinan, Executive Vice President and CFO, will present at 11:40 AM PDT (2:40 PM ET).

Investors and the public are invited to listen to a live webcast of the presentation, which will be available in the "Investors" section of the company's website. A replay of the webcast will be accessible for 30 days following the event. This presentation offers an opportunity for stakeholders to gain insights into Stanley Black & Decker's current strategies and future outlook.

CRAFTSMAN, a Stanley Black & Decker brand, has shared camping tips and product recommendations as more Americans embrace outdoor activities. According to KOA's 2024 report, camping households have increased by 23% over the past decade. CRAFTSMAN's camping essentials include cordless tools, storage solutions, and equipment to enhance the campsite experience.

The brand offers four main tips for campers:

• Plan ahead with research and proper gear
• Camp with confidence by prioritizing safety
• Keep organized with durable storage solutions
• Make the experience fun with the right equipment

CRAFTSMAN's product recommendations include LED flashlights, pocket knives, power sources, storage totes, and a smokeless fire pit. These tools aim to improve safety, organization, and enjoyment during outdoor adventures.

DEWALT, a Stanley Black & Decker brand, conducted a survey of Houston-based tradespeople, revealing significant insights about the impact of tool investments on careers in the trades. Key findings include:

- 78% of tradespeople agree that the initial cost of tools was a barrier to starting their career
- 88% believe easier access to necessary tools would attract more workers to the construction industry
- 93% say investing in durable, high-performance tools is worth the higher cost
- 78% refresh or replace their tools at least once a year, with 65% estimating annual investments of $10,000 or more

In response, DEWALT is gifting 100 tool kits to graduates of The Home Builders Institute's Houston BuildStrong Academy as part of their $30 million Grow the Trades initiative to address the skilled labor shortage in the U.S.

Stanley Black & Decker (NYSE: SWK) reported Q2 2024 results with revenues of $4.0 billion, down 3% year-over-year. Organic revenue grew 1%, led by DEWALT, Outdoor Products, and Engineered Fastening. Gross margin expanded to 28.4%, up 600 basis points, while adjusted gross margin reached 29.2%, up 560 basis points. The company reported a GAAP EPS loss of $0.13, but adjusted EPS was $1.09. Cash from operations was $573 million, with free cash flow of $486 million. SWK raised its full-year 2024 guidance, now expecting adjusted EPS of $3.70-$4.50 and free cash flow of $650-$850 million. The company remains on track with its cost reduction program, targeting $1.5 billion in pre-tax run-rate savings by end of 2024 and $2 billion by end of 2025.

Stanley Black & Decker (NYSE: SWK) has appointed Deborah K. Wintner as Senior Vice President and Chief Human Resources Officer (CHRO), effective August 1, 2024. Wintner, who has been with the company for six years, will succeed John T. Lucas and report directly to CEO Donald Allan, Jr. She will oversee the company's global HR strategy, talent management, and compensation and benefits.

Wintner brings over 30 years of HR experience, including leadership roles at Stanley Black & Decker, where she most recently served as SVP of HR Operations and CHRO for Tools and Outdoor. Her appointment comes during a transformational period for the company, with a focus on driving growth through a high-performing workforce.

Stanley Black & Decker (NYSE: SWK), a leading Tools and Outdoor company, has announced a $0.01 increase in its quarterly cash dividend to $0.82 per common share. The dividend will be payable on September 17, 2024, to shareholders of record as of September 3, 2024. This increase reflects the company's commitment to rewarding shareholders and demonstrates confidence in its transformation journey. The company is focusing on accelerating long-term organic growth, margin expansion, and generating significant free cash flow to enhance shareholder returns.