Stanley Black Stock Price, News & Analysis

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.

Stanley Black & Decker (NYSE: SWK) is set to present at the Raymond James 44th Annual Institutional Investors Conference on March 7, 2023, at 9:15 AM ET in Orlando, FL. The presentation will be led by President and CEO Don Allan. Interested parties can join the live webcast via the company's Investors section of their website. A replay will be available for 30 days. Stanley Black & Decker is a leader in tools and outdoor manufacturing with over 50,000 employees, producing iconic brands such as DEWALT® and BLACK+DECKER®.

Stanley Black & Decker (NYSE: SWK) announces the return of its CRAFTSMAN® brand as the title sponsor of the NASCAR Truck Series, starting February 17, 2023, at Daytona International Speedway. CRAFTSMAN® previously held this position from 1995 to 2008. The announcement includes plans for exclusive Deal of the Race™ promotions, giveaways, and fan experiences throughout the season. Fans can access discounts on selected tools via QR codes displayed during NASCAR broadcasts. An interactive exhibit will be featured at Daytona, showcasing CRAFTSMAN® products with opportunities for fans to win prizes and meet drivers.

Stanley Black & Decker (NYSE: SWK) has declared a regular first quarter cash dividend of $0.80 per common share, reinforcing its status as having the longest consecutive annual and quarterly dividend payments among industrial companies on the New York Stock Exchange. This dividend will be payable on March 21, 2023, to shareholders on record by the close of business on March 7, 2023. With over 50,000 employees, the company continues to lead in tools and outdoor manufacturing, driving innovation through its renowned brands such as DEWALT® and BLACK+DECKER®.

Stanley Black & Decker (NYSE: SWK) will present at the Barclays Industrial Select Conference in Miami, FL on February 22, 2023, at 1:15 PM ET. The presentation will be led by Corbin Walburger, Vice President and Interim CFO. Investors and the public can access a live webcast on the company's website, with a replay available for 30 days.

Stanley Black & Decker is a global leader in tools and outdoor products, employing over 50,000 individuals worldwide. The company focuses on innovation through its renowned brands like DEWALT® and BLACK+DECKER®. Committed to sustainability, it emphasizes its role in supporting communities and stakeholders.

Stanley Black & Decker (NYSE: SWK) reported full year 2022 revenues of $16.9 billion, marking an 11% increase from the previous year. This growth was driven by acquisitions in outdoor power equipment and strong performance in the industrial segment.

The company achieved $200 million in pre-tax savings through its cost reduction program and generated over $500 million in free cash flow during Q4 2022. However, Q4 diluted GAAP EPS was ($0.72), influenced by inventory reduction strategies. For 2023, EPS guidance is set between ($1.65) to $0.85.

Evolv Technology (NASDAQ: EVLV) has partnered with STANLEY Security to implement its Evolv Express® AI weapons detection systems in the Niagara Falls City School District, New York. This installation has expedited school entry processes for over 6,000 students by replacing cumbersome traditional security measures. Initial results show significant improvements in ingress and detection efficiency, enhancing the overall experience. The move comes amid rising concerns of school violence, prompting a shift to more modern security solutions, with Evolv Express currently deployed in schools across 20 states.

Stanley Black & Decker (NYSE: SWK) appointed John T. Lucas as Senior Vice President and Chief Human Resources Officer (CHRO), effective January 30, 2023. Lucas, who has over 35 years of HR experience in Fortune 50 and Fortune 150 companies, will lead the global HR strategy and report to CEO Donald Allan, Jr. Deborah K. Wintner, the interim CHRO, takes on the role for the company's largest segment, Tools & Outdoor. Lucas's extensive background includes leadership roles at Lockheed Martin, Goodyear, Microsoft, Kodak, and Merck, and he aims to enhance the company’s organizational effectiveness as it undergoes business transformation.

Stanley Black & Decker (NYSE: SWK) appointed Patrick Hallinan as the new Executive Vice President and Chief Financial Officer, effective April 6. He succeeds interim CFO Corbin Walburger, who will return to his previous position as Vice President of Business Development. Hallinan previously served as CFO at Fortune Brands Innovations and brings extensive experience in finance and leadership from various roles in top consumer brands. CEO Donald Allan Jr. expressed confidence in Hallinan's ability to drive growth and efficiency during a significant transformation of the company.