Stanley Black Stock Price, News & Analysis

On April 26, 2023, BLACK+DECKER introduced new attachments for its cordless kitchen mult-tool, the BLACK+DECKER kitchen wand™, enhancing its functionality for home chefs. The latest additions include a food chopper and hand mixer attachments, aimed at simplifying meal preparation. The food chopper allows for chopping, dicing, and blending with features like measurement markings and a liquid port. The hand mixer attachment enables smooth ingredient mixing. Both attachments are now available for purchase on blackanddecker.com and Amazon, priced at $34.99 and $29.99, respectively. The kitchen wand™ operates on a rechargeable battery, capable of mixing up to 10 dozen cupcakes or dicing up to 44 onions on a single charge. These innovations aim to reduce the number of appliances needed in the kitchen, offering flexibility and cordless convenience.

Troy-Bilt, a brand under Stanley Black & Decker (NYSE:SWK), has launched its Low, Slow, & Mow campaign as of April 24, 2023. This initiative addresses the challenges homeowners face in managing household tasks while also caring for their yards. The campaign features partnerships with social media influencers to share slow-cook recipes that homeowners can prepare while performing yardwork. The recipes are designed to save time, allowing users to complete tasks like mowing the lawn while meals cook. The campaign also provides videos and recipe overviews on platforms like TikTok and Instagram. With over 4 million followers collectively among the influencers, the initiative aims to enhance the yardwork experience and promote Troy-Bilt's products.

Stanley Black & Decker (NYSE: SWK) has announced a second quarter cash dividend of $0.80 per common share, reinforcing its position as a leader in industrial dividend payments. This declaration extends the company's streak of consecutive annual and quarterly dividend payments, the longest among industrial firms on the New York Stock Exchange. The dividend is set for payment on June 20, 2023, with shareholders of record as of the close of business on June 5, 2023.

This announcement highlights the company’s commitment to returning value to its shareholders while maintaining its strong market presence in tools and outdoor product manufacturing.

Stanley Black & Decker (NYSE: SWK) has announced the launch of several innovative electric outdoor products under its CRAFTSMAN brand, enhancing its V20* and BRUSHLESS RP™ lines. These new offerings include battery-powered brushless riding mowers, such as the 56V MAX* 30-in. and 42-in. models, capable of mowing 1-2 acres on a single charge. The range also features a new 24 HP 54-in. Gas Zero-Turn Mower. Additionally, the expanded V20* BRUSHLESS RP™ line introduces tools like push mowers, string trimmers, pressure washers, and a multi-use garden tool kit. The company aims to meet the growing demand for electric outdoor power equipment, supported by a survey indicating that 71% of homeowners enjoy yard care. All products are available in stores and online.

Stanley Black & Decker (NYSE: SWK) will announce its first quarter 2023 earnings on May 4, 2023, with a conference call beginning at 8:00 AM ET. A news release detailing financial results will be available before the market opens on the same day. The call can be accessed via a webcast or teleconference, with links provided on the company's website under the 'Investors' section. A replay will be available two hours post-call. Stanley Black & Decker is renowned for its categories in tools and outdoor equipment, driven by a workforce of over 50,000 employees.

On March 20, 2023, Stanley Black & Decker announced changes in its manufacturing and distribution network as part of its 2022 business transformation strategy. These changes include expanding U.S. sites, transforming some into manufacturing centers of excellence, and consolidating operations. Specifically, the company will transfer operations from Cheraw, South Carolina to Jackson and Gallatin, Tennessee, closing its Fort Worth, Texas facility. Affected employees total 357, while 80 new jobs will be created in Tennessee. The restructuring aims to achieve $2 billion in cost savings, strengthen its core business, and ensure future growth.

STANLEY introduces its new CONTROL-LOCK™ tape measures, designed for strength and measuring control, suitable for professional jobsites. Available in lengths of 12-Ft to 30-Ft, these tapes feature a lightweight, compact design, an integrated finger brake for improved control, and a durable BladeArmor® coating. The lineup includes models priced between $8.99 and $18.99. STANLEY's commitment to innovation ensures that tradespeople can work with confidence and ease. The tapes come in recyclable packaging, advancing the company's sustainability efforts.

BLACK+DECKER showcased its latest innovations at The Inspired Home Show in Chicago from March 4-7, 2023. The highlight is the bev by BLACK+DECKER™ Cordless Cocktail Maker, launching in Spring 2023, enabling portable cocktail preparation. The product features include over 250 drinks per charge and customizable party modes. The BLACK+DECKER® kitchen wand™ expands with new attachments for food chopping and hand mixing, both available in March 2023. Additionally, the POWERSERIES Extreme™ MAX Cordless Stick Vacuum and SUMMITSERIES™ Select are introduced to enhance home cleaning efficiency, reflecting BLACK+DECKER’s commitment to innovation.

On March 1, 2023, Stanley Black & Decker (NYSE: SWK) announced the pricing of its offering of $350 million in Senior Notes due 2026 with a 6.272% interest rate, and $400 million in Senior Notes due 2028 at a 6.000% interest rate. The offering is expected to close on March 6, 2023, pending customary conditions. The company anticipates net proceeds of approximately $745.4 million, which will primarily be used for general corporate purposes, including debt repayment. Major banks are handling the offering, and the company has filed necessary documentation with the SEC.