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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.
Stanley Black & Decker reported first quarter 2024 financial results, with revenues of $3.9 billion, down 2% versus the prior year. The first quarter gross margin expanded by 740 basis points versus the prior year. The company reiterated its 2024 full year guidance and expects GAAP EPS of $1.60 to $2.85, adjusted EPS of $3.50 to $4.50, and free cash flow of $0.6 billion to $0.8 billion. The Global Cost Reduction Program is on track to deliver pre-tax run-rate savings of $1.5 billion by end of 2024 and $2 billion by end of 2025, with $145 million in incremental pre-tax run-rate cost savings generated in the first quarter of 2024.
Stanley Black & Decker (SWK) has announced a regular second quarter cash dividend of $0.81 per common share, setting a new record for consecutive annual and quarterly dividend payments among industrial companies listed on the NYSE. The dividend will be payable on June 18, 2024, to shareholders of record as of June 4, 2024.
