Welcome to our dedicated page for Stanley Black news (Ticker: SWK), a resource for investors and traders seeking the latest updates and insights on Stanley Black stock.
Stanley Black & Decker, Inc. (NYSE: SWK) generates a steady flow of news as a global Tools and Outdoor manufacturer with a portfolio of brands such as DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER and Cub Cadet. Founded in 1843 and headquartered in the USA, the company operates manufacturing facilities worldwide and serves builders, tradespeople and DIY users with power tools, hand tools, storage, outdoor products, digital jobsite solutions and engineered fasteners.
News coverage for SWK commonly includes quarterly earnings announcements, where the company discusses segment performance in Tools and Outdoor and Engineered Fastening, margin trends, cash flow and progress on cost reduction and supply chain transformation programs. Investors also see updates on portfolio actions, such as the agreement to sell its Consolidated Aerospace Manufacturing (CAM) business to Howmet Aerospace, which reflects the company’s approach to active portfolio management and debt reduction.
Another category of news involves product and brand developments. As a Stanley Black & Decker brand, DEWALT issues announcements on new jobsite tools and systems, including concrete solutions and cordless equipment showcased at industry trade shows. These updates illustrate how the company introduces new tools and technologies for demanding professional applications.
Corporate governance and leadership items also appear in the news stream, including board appointments, changes in executive roles and the appointment of leaders for areas such as global supply chain. In addition, SWK issues releases on dividends, investor conference presentations and upcoming earnings webcasts, providing context for shareholders and analysts.
This news page aggregates these items in one place, allowing readers to review financial updates, strategic transactions, product launches and corporate announcements related to Stanley Black & Decker over time.
PORTER-CABLE and Tractor Supply Company (NASDAQ: TSCO) have announced a strategic partnership to enhance accessibility to PORTER-CABLE tools in the U.S. Starting in Q4 2021, PORTER-CABLE products will be available in Tractor Supply stores nationwide, alongside exclusive new cordless innovations planned for 2022. This collaboration aims to cater to the strong demand from Tractor Supply's customer base, which includes nearly 12 million current PORTER-CABLE battery platform users. The partnership also features shared support for agriculture through the sponsorship of the Farm Aid concert on September 25, 2021.
Starting October 1, nonprofits can apply for grants from Stanley Black & Decker's $25 million "Empower Makers Global Impact Challenge" aimed at enhancing vocational skills training in construction and manufacturing. The initiative addresses a significant skills gap, with 430,000 open construction jobs in the U.S. and 10 million unfilled manufacturing jobs worldwide, worsened by the pandemic. The goal is to empower 3 million makers over five years, promoting trade careers as financially rewarding alternatives to traditional college paths.
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.
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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.