Stanley Black Stock Price, News & Analysis

Stanley Black & Decker (NYSE: SWK) will present at the Morgan Stanley 10th Annual Laguna Conference on September 14, 2022, at 3:15 PM ET. The presentation will be led by Don Allan, the company's President and CEO. Investors can join the live webcast on the company’s website, with a replay available for 30 days after the event. Stanley Black & Decker, headquartered in the USA, is the world's largest tool company with a diverse workforce and a focus on innovation and sustainability.

Stanley Black & Decker (NYSE: SWK) announced that CRAFTSMAN will return as the title sponsor of the NASCAR Truck Series starting February 17, 2023. The partnership marks CRAFTSMAN's homecoming after sponsoring the series from 1995 to 2008. Additionally, Stanley Black & Decker becomes the 'Official Tools Partner of NASCAR,' enhancing brand visibility across NASCAR events. The sponsorship includes exclusive brand integrations and promotional rights, aligning the CRAFTSMAN brand with the authenticity of NASCAR racing culture, while supporting product launches and seasonal promotions.

Stanley Black & Decker (NYSE: SWK) announced the election of Robert J. Manning to its Board of Directors on Aug. 4, 2022. Manning brings over 30 years of financial services experience and leadership, having previously served as Chairman and CEO of MFS Investment Management. His expertise in corporate value and ESG strategies is expected to enhance the Board's capability in maximizing long-term stakeholder value. Manning expressed his enthusiasm for joining the iconic company, which operates nearly 50 manufacturing facilities in the USA.

Stanley Black & Decker (NYSE: SWK) reported Q2 2022 revenues of $4.4 billion, a 16% increase from the previous year, fueled by acquisitions and price increases. The company completed divestitures generating $4.1 billion in cash, enhancing its balance sheet. A global cost reduction program aims to deliver $1 billion in savings by the end of 2023, increasing to $2 billion over three years. However, the adjusted EPS guidance for 2022 has been significantly lowered to a range of $0.80 - $2.05 due to declining consumer demand and economic headwinds.

Allegion plc (NYSE: ALLE) reported Q2 2022 net earnings per share (EPS) of $1.30, slightly down from $1.31 in 2021. Adjusted EPS rose 3.8% to $1.37. Revenues reached $773.1 million, a 3.5% increase year-over-year. Operating margin decreased to 19% from 19.5%, while adjusted operating margin improved to 20%. The company revised its 2022 revenue outlook to 13-14% growth, with EPS guidance of $5.05 to $5.15. The Access Technologies acquisition closed on July 5, 2022, which is expected to impact EPS negatively by $0.10 for the year due to operational costs.

Stanley Black & Decker (NYSE: SWK) has completed the sale of its Security assets to Securitas AB for $3.2 billion in cash. This divestiture, announced on December 8, 2021, will focus the company on its core businesses, including Tools and Outdoor and Industrial sectors. The sale is projected to reduce debt and fund a $2.3 billion share repurchase. In 2021, the Security division generated approximately $1.6 billion in revenue with a low double-digit adjusted EBITDA margin, highlighting the strategic transformation of the business.

BLACK+DECKER has launched the bev by BLACK+DECKER™ Cocktail Maker, now available on Amazon and other retailers. This innovative single-serve machine allows users to make custom cocktails in approximately 30 seconds, featuring an easy-load system for up to five liquor bottles. It offers customizable drink strengths and a 'party mode' with LED sequences. Priced at $299, the cocktail maker also won the 2022 Gadget Award for 'Best Cocktail Machine'. With its launch, BLACK+DECKER aims to enhance home entertaining experiences.

IRWIN, a Stanley Black & Decker brand (NYSE: SWK), has launched its new STRAIT-LINE tape measures designed for tradespeople. These heavy-duty tape measures offer up to 17-Ft. MAX Reach and can withstand drops from up to 80-Ft. The new features include an integrated finger brake, an extra-large hook, and a durable blade coating. The STRAIT-LINE tape measures are priced between $17.98 and $39.98 and are available in various sizes, with plans for additional products in the winter. This latest addition enhances IRWIN's diverse range of hand tools.

Stanley Black & Decker (NYSE: SWK) announced the resignation of Jaime Ramirez as Executive Vice President and President of Tools & Storage, effective July 22, 2022. Robert Raff, a company veteran of 20 years, will take over as Acting Executive Vice President and President of Tools. Raff has extensive experience within the company, having held various leadership roles. The company has engaged Heidrick & Struggles for an internal and external search for a permanent successor. CEO Donald Allan expressed confidence in Raff's ability to drive strategy and growth in core businesses.