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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.
A DEWALT Tool Talk Survey reveals significant insights about tradespeople in Orlando and the construction industry:
- 78% of Orlando tradespeople say 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
- 92% state that not having the right tools or losing a tool on the jobsite significantly hinders productivity
- 93% agree that investing in durable, high-performance tools is worth the higher cost
To address these issues, DEWALT is gifting 100 tool kits to graduates of The Home Builders Institute's Orlando BuildStrong Academy. This initiative is part of DEWALT's $30 million commitment over five years to close the skilled trades gap in the U.S. The survey also found that 65% of tradespeople estimate their annual investment in tools, batteries, and accessories to be $10,000 or more.
A new survey by BLACK+DECKER, a Stanley Black & Decker brand (NYSE: SWK), reveals pepperoni as America's favorite pizza topping, with 67% of respondents favoring it. The survey, conducted in April 2024, polled 400 adults who eat pizza at least a few times monthly. Key findings include:
- 75% of Americans eat pizza a few times a month or more
- 84% agree fresh ingredients make for the most enjoyable pizza
- Friday is the most popular day for pizza consumption
- New York Style (29%) and Deep Dish (24%) are the most favored styles
- Garlic butter and ranch dressing are the top dipping sauces
The survey coincides with the launch of BLACK+DECKER's vera Pizza Oven, available for $299.99, aimed at bringing customized pizza experiences to homes.
STANLEY, a Stanley Black & Decker brand, released a survey revealing that many residential trade professionals consider their tape measure more essential than their phone, wallet, or keys. Conducted with 1,003 contractors, the survey found 75% use their tape measure over five times daily, and 42% prioritize it over their phone. Additionally, 44% would forgo their morning coffee before their tape measure. The findings coincide with National Tape Measure Day on July 14, emphasizing the critical role tape measures play in the trade industry. STANLEY manufactures 30 million tape measures annually and celebrates the day with a giveaway on Instagram.
The survey revealed that tape measures are often misplaced, with 28% of professionals misplacing theirs up to three times a day. Most pros own multiple tape measures to counter this. Different tape measures are used for various tasks, with length and reach being key features. STANLEY, a pioneer since 1930, continues to innovate with products like the ControlLock™, FATMAX®, and POWERLOCK® tape measures.
Stanley Black & Decker's CRAFTSMAN brand, together with the Ace Hardware Foundation and Joe Gibbs Racing, is supporting the 18th Annual Racing for a Miracle program benefiting Children's Miracle Network (CMN) Hospitals. This year, ten children from Ann & Robert H. Lurie Children's Hospital in Chicago will join NASCAR driver Christopher Bell as honorary junior crew members. Their artwork will be featured on Bell's No. 20 car for the Chicago Street Race on July 7. CRAFTSMAN will donate $100,000 to CMN Hospitals, and Ace Hardware will offer 20% discounts on over 90 CRAFTSMAN products, with 10% of the sales going to local CMN Hospitals.
Over the past 18 years, Stanley Black & Decker has contributed over $1.8M to the program. The celebratory tailgate event will take place on July 2 at Ace Hardware's headquarters, featuring TV personalities Cristy Lee and Lou Manfredini. The event will also unveil Bell's car's new paint scheme designed by the junior crew members.
Stanley Black & Decker (NYSE: SWK) will release its second quarter 2024 earnings on Tuesday, July 30, 2024. A webcast will be held at 8:00 AM ET to discuss the results. The accompanying slide presentation will be available on their Investor Relations page.
A news release detailing the financial results will be distributed before the market opens. The live webcast and teleconference details, along with the slide presentation, can be accessed through the 'Investors' section on Stanley Black & Decker's website. A replay of the webcast will be available two hours after the call.
DEWALT, a brand of Stanley Black & Decker (NYSE: SWK), announced the recipients of its 2024 DEWALT Trades Scholarship, awarding $200,000 to 40 students from the U.S. and Canada. These scholarships support education in trades such as carpentry and welding. The initiative is part of DEWALT's Grow The Trades program, a $30 million commitment to address the skilled trades gap in the U.S. Over the past years, DEWALT has awarded over $850,000 in scholarships. High school seniors attending trade schools are encouraged to post their decisions on social media using #tradeproud starting June 1.
Stanley Black & Decker’s CRAFTSMAN brand has expanded its V20 cordless battery system with new tools. Announced on May 30, 2024, the new products include a belt sander, cut-off tool, powerfile, mosquito repellent, 2-in-1 scrubber kit, and a 12-inch chainsaw kit. These additions aim to enhance versatility and performance, allowing users to handle various tasks with one battery platform. Notable features include a brushless motor in the belt sander and cut-off tool, and a 20-ft zone of protection in the mosquito repellent. The products are available both in stores and online.
DEWALT, a Stanley Black & Decker brand, has announced the release of its new TOUGHSERIES™ Construction Jack (DWHT83550) on May 23, 2024. This heavy-duty, hands-free lifting tool can lift up to 340 lbs and has a lift height of 8-3/4 inches. It's designed to assist a single worker in performing demanding tasks like lifting, leveling, and installing. Key features include a step-to-lift function, precision lowering tab, quick release button, slim tapered base, and an ergonomic handle. The new product will be available in June where DEWALT products are sold.
Stanley Black & Decker (NYSE: SWK) celebrates DEWALT's 100th anniversary by ringing the NYSE Opening Bell. The event honors over 1,000 New York City tradespeople with breakfast, coffee, and DEWALT gear. DEWALT will also donate $100,000 in tools to local training centers, including the New York City District Council of Carpenters Training Center and UA Local Union No. 1 Plumbers & Gas-Fitters Training Center. New York Giants Quarterback Tommy DeVito and former NFL Quarterback Boomer Esiason will join the celebration. Additionally, DEWALT has opened applications for its 2024 Grow the Trades Grant program, part of a $30 million commitment over five years to support tradespeople, and will start accepting applications in September for its annual Trades Scholarship.
Stanley Black & Decker (NYSE: SWK) has announced upcoming presentations at investor conferences by their Executive Vice President and CFO. The company is a global leader in Tools and Outdoor products, with a diverse portfolio of brands like DEWALT®, CRAFTSMAN®, and STANLEY®. The webcasts will be available on the company's website for replay.
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