Stanley Black Stock Price, News & Analysis

Stanley Black & Decker (NYSE: SWK) has announced its agreement to acquire Excel Industries for $375 million in cash. Excel, known for its commercial and residential turf-care equipment, is projected to generate over $375 million in revenue for 2021. This acquisition is expected to enhance Stanley's outdoor products portfolio and is projected to be accretive to EPS by $0.15 to $0.20 in three years. The deal is subject to regulatory approvals and standard closing conditions.

Stanley Black & Decker (NYSE: SWK) will host a virtual presentation led by President and CFO Don Allan at the Morgan Stanley Virtual 9th Annual Laguna Conference on September 13, 2021, at 3:45 PM ET. The live webcast will be accessible in the 'Investors' section of their website, with a replay available for 30 days. As a leader in the tools and storage industry, Stanley Black & Decker operates globally with approximately $14.5 billion in revenue and 56,000 employees across over 60 countries.

DEWALT, a leading brand of Stanley Black & Decker (NYSE: SWK), announces its debut in college football for the 2021-2022 season. This innovative sponsorship includes 25 universities across five Division 1 conferences, displaying the DEWALT logo on in-stadium team benches. The benches, exclusively installed with DEWALT tools, will enhance the brand's visibility among sports fans. Launching on Sept. 2 during the Minnesota vs. Ohio State game, this marks a significant milestone for DEWALT's marketing strategy, aimed at connecting with passionate supporters of college athletics.

Stanley Black & Decker (NYSE: SWK) announced its acquisition of the remaining 80% stake in MTD Holdings for $1.6 billion in cash. Previously, SWK held a 20% stake in MTD, acquired in 2019. This strategic move aims to create a global leader in the $25 billion outdoor category, enhancing growth opportunities amidst rising trends in home and garden consumer engagement and electrification. The acquisition is expected to yield $100 million in annual cost synergies by 2025 and boost adjusted earnings per share by $0.50 in 2022, increasing to over $1.00 by 2025.

Stanley Black & Decker (NYSE: SWK) highlighted its DEWALT tools in an upcoming episode of 'Modern Marvels: Machines' on The HISTORY Channel, airing on August 15, 2021. CEO Jim Loree expressed pride in showcasing DEWALT's 175-year legacy, emphasizing quality power tools. The episode features advancements in manufacturing at the Ft. Mill, South Carolina facility, where DEWALT produces 80-100,000 units weekly. Viewers can expect insights into the DEWALT Impact Driver and a chance to win a prize pack by finding a special note included with the product.

Stanley Black & Decker (SWK) reported strong second quarter 2021 financial results, with revenues reaching $4.3 billion, a 37% increase year-over-year. All segments contributed to a robust 33% organic growth. The gross margin rose to 35.9%, and diluted EPS jumped 93% to $2.81. The company raised its 2021 GAAP EPS guidance to $10.80 - $11.20, citing improved performance and demand. Notably, Tools & Storage sales soared 46%, driven by volume and innovation. The company remains optimistic about future growth, especially with a strong backlog and ongoing negotiations to acquire the remaining stake in MTD.

Stanley Black & Decker (NYSE: SWK) announced a 13% increase in its quarterly cash dividend, raising it to $0.79 per share, marking the 54th consecutive annual dividend increase. The dividend is payable on September 21, 2021, to shareholders of record by September 7, 2021. CEO James M. Loree emphasized the company's confidence in its cash generation potential, highlighting the dividend's role in enhancing shareholder value and their strategy to allocate approximately half of excess capital to shareholders for the long term.