Stanley Black Stock Price, News & Analysis

Stanley Black & Decker (NYSE: SWK) reported third quarter 2022 revenues of $4.1 billion, a 9% increase year-over-year, boosted by acquisitions in outdoor power equipment and industrial growth. Adjusted diluted EPS was $0.76, with a gross margin of 24.7%, down due to rising costs and lower sales volumes. The company also achieved $65 million in pre-tax savings through its cost reduction program, while reducing inventory by $290 million. However, it revised its full-year EPS guidance down to $0.10 to $0.80, reflecting challenges in European demand and inflationary pressures.

Stanley Black & Decker (NYSE: SWK) has announced a fourth quarter cash dividend of $0.80 per share, extending its record for the longest consecutive annual and quarterly dividend payments among industrial companies on the NYSE. The dividend is due on December 20, 2022 for shareholders of record as of December 1, 2022.

BLACK+DECKER, a Stanley Black & Decker brand (NYSE: SWK), has launched the reviva™ power tool line, featuring tools made with 50% certified recycled material from Eastman’s Tritan™ Renew. The cordless tools, including a drill driver, detail sander, jigsaw, and screwdriver, are available on Amazon and other retailers. Over the next three years, the company aims to divert over 10 million single-use plastic bottles from landfills to produce the reviva™ line, aligning with their sustainability goals.

BLACK+DECKER has launched the kitchen wand™, its first cordless kitchen multi-tool designed for various cooking applications. This versatile tool boasts a runtime of up to 30 minutes, allowing users to blend up to 75 bowls of soup per charge. Six attachments, including an immersion blender, whisk, and can opener, are available for purchase. The kitchen wand™ comes in three colors and includes features such as variable speed settings and a charge indicator. The product aims to enhance kitchen efficiency while minimizing clutter by replacing multiple appliances.

Stanley Black & Decker (NYSE: SWK) announced that its brands, including DEWALT and CRAFTSMAN, won several 2022 Pro Tool Innovation Awards. Over 465 entries were evaluated to recognize innovative products across various categories.

Key winners included DEWALT's PVC/PEX Cutter Attachment and BLACK+DECKER's reviva tools, made from 50% recycled materials. This achievement underscores the company’s commitment to innovation and sustainability in power tools and outdoor equipment.

Stanley Black & Decker (NYSE: SWK) will host its third-quarter 2022 earnings webcast on October 27, 2022, starting at 8:00 AM ET. A financial results news release will precede the market opening on the same day, and a slide presentation will accompany the call. Investors can access the webcast and register for the teleconference via the company's Investor Relations page. The event will also feature a replay available two hours post-call.

Stanley Black & Decker (NYSE: SWK) has teamed up with TerraCycle to launch a free recycling program aimed at reducing waste from tools and home appliances equipped with lithium-ion batteries. This initiative aligns with the company's Environmental, Social and Governance (ESG) strategy, emphasizing sustainability. Eligible products include a variety of tools and appliances from brands like BLACK+DECKER and DEWALT. Customers can sign up online and send in their products using prepaid shipping labels. This effort is part of the company's commitment to creating a more sustainable world.