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Stanley Black & Decker reports news tied to its tools, outdoor products and engineered fastening businesses. The company makes power tools, hand tools, storage products, digital jobsite solutions, outdoor and lifestyle products, and engineered fasteners under brands that include DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER and Cub Cadet.
Recurring developments include earnings releases for Tools & Outdoor and Engineered Fastening, margin and cash-flow commentary, tariff and macroeconomic updates, dividend and share-repurchase actions, and portfolio changes such as the completed sale of the Consolidated Aerospace Manufacturing business. Brand-level updates often center on DEWALT jobsite solutions, trades education and construction-workforce technology.
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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