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Stanley Black & Decker, Inc. (NYSE: SWK) generates a steady flow of news as a global Tools and Outdoor manufacturer with a portfolio of brands such as DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER and Cub Cadet. Founded in 1843 and headquartered in the USA, the company operates manufacturing facilities worldwide and serves builders, tradespeople and DIY users with power tools, hand tools, storage, outdoor products, digital jobsite solutions and engineered fasteners.
News coverage for SWK commonly includes quarterly earnings announcements, where the company discusses segment performance in Tools and Outdoor and Engineered Fastening, margin trends, cash flow and progress on cost reduction and supply chain transformation programs. Investors also see updates on portfolio actions, such as the agreement to sell its Consolidated Aerospace Manufacturing (CAM) business to Howmet Aerospace, which reflects the company’s approach to active portfolio management and debt reduction.
Another category of news involves product and brand developments. As a Stanley Black & Decker brand, DEWALT issues announcements on new jobsite tools and systems, including concrete solutions and cordless equipment showcased at industry trade shows. These updates illustrate how the company introduces new tools and technologies for demanding professional applications.
Corporate governance and leadership items also appear in the news stream, including board appointments, changes in executive roles and the appointment of leaders for areas such as global supply chain. In addition, SWK issues releases on dividends, investor conference presentations and upcoming earnings webcasts, providing context for shareholders and analysts.
This news page aggregates these items in one place, allowing readers to review financial updates, strategic transactions, product launches and corporate announcements related to Stanley Black & Decker over time.
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.
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.
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