Stanley Black & Decker reports news tied to its tools, outdoor products and engineered fastening businesses. The company makes power tools, hand tools, storage products, digital jobsite solutions, outdoor and lifestyle products, and engineered fasteners under brands that include DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER and Cub Cadet.
Recurring developments include earnings releases for Tools & Outdoor and Engineered Fastening, margin and cash-flow commentary, tariff and macroeconomic updates, dividend and share-repurchase actions, and portfolio changes such as the completed sale of the Consolidated Aerospace Manufacturing business. Brand-level updates often center on DEWALT jobsite solutions, trades education and construction-workforce technology.
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Stanley Black & Decker (NYSE: SWK) announced a $2.0 billion accelerated share repurchase program, demonstrating its commitment to enhancing shareholder value. This is part of a larger $4 billion share repurchase initiative planned for 2022. The initial payment will be funded through existing credit agreements, with approximately 10.8 million shares expected to be delivered initially. The final number of shares will be determined based on market conditions. This strategic move reflects confidence in the company's long-term growth and margin expansion prospects.
Stanley Black & Decker (NYSE: SWK) will host a webcast presentation by President and CFO Don Allan at the Raymond James 43rd Institutional Investors Conference on March 7, 2022, at 11:35 AM ET. Interested parties can access the live event via the 'Investors' section of the company's website. A replay will be available for 30 days. As the largest tool company globally, Stanley Black & Decker employs over 60,000 staff and operates nearly 50 manufacturing facilities in the USA, producing well-known brands like DEWALT and CRAFTSMAN.
Desktop Metal (NYSE:DM) has successfully shipped its first Production System™ P-50 printer to Stanley Black & Decker (NYSE:SWK). This milestone signifies the commercialization of Desktop Metal's advanced additive manufacturing technology, enabling mass production of metal parts. The P-50 is designed for high-performance output and is expected to be up to 100 times faster than traditional methods, with a production capacity reaching millions of parts annually. This development follows a $100 million investment and four years of dedicated research and development.
Stanley Black & Decker (NYSE: SWK) has priced its offering of $500 million in 2.300% Senior Notes due 2025 and $500 million in 3.000% Senior Notes due 2032. The notes will be offered at 99.865% and 99.810% of par, respectively, and the offering is expected to close on February 24, 2022. The net proceeds of approximately $991.9 million will be used for general corporate purposes, including repayment of debt. The issuance is subject to customary closing conditions and will comply with SEC regulations.
Stanley Black & Decker (NYSE: SWK) will host a webcast of a presentation by Don Allan, President and CFO, at the Barclays Industrial Select Conference on February 24, 2022, at 10:20 AM ET. Interested parties can access the live webcast via the company's website. A replay will be available for 30 days. Stanley Black & Decker, the largest tool company globally, operates nearly 50 manufacturing sites in the USA and over 100 worldwide, producing a range of innovative tools and equipment.
Stanley Black & Decker (NYSE: SWK) announced the election of Andrea J. Ayers as Chair of the Board, effective April 22, 2022. George W. Buckley will retire after 15 years of service. The Board also welcomed Adrian V. Mitchell, CFO of Macy's, Inc., as a new director. Ayers commended Buckley for his leadership, noting the company's growth post-merger. Mitchell brings extensive financial and operational expertise, aiming to advance Stanley Black & Decker’s long-term strategy and shareholder value. This leadership transition underscores the company's commitment to innovation and performance.
On February 16, 2022, Stanley Black & Decker (NYSE: SWK) announced a regular first quarter cash dividend of $0.79 per common share. This move extends the company's record for the longest consecutive annual and quarterly dividend payments among industrial companies on the NYSE. Shareholders of record as of March 8, 2022 will receive the dividend on March 22, 2022. Stanley Black & Decker operates nearly 50 manufacturing facilities in the USA and over 100 globally, producing a wide range of power tools and other industrial equipment.
On February 15, 2022, Stanley Black & Decker (NYSE: SWK) announced the selection of ten startups for its 2022 STANLEY+Techstars Accelerator. The program targets innovations in electrification, featuring startups developing advanced battery technologies, recyclable materials, and automation solutions. The three-month program will kick off in Baltimore, culminating in a demo day in May. The diverse cohort includes companies from the USA, Canada, Germany, and Ireland, and aims to foster advancements that enhance energy efficiency and contribute to the electrification of consumer and industrial products.