Welcome to our dedicated page for Stanley Black news (Ticker: SWK), a resource for investors and traders seeking the latest updates and insights on Stanley Black stock.
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 (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.
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.