Stanley Black Stock Price, News & Analysis

Stanley Black & Decker's CRAFTSMAN brand has partnered with Ace Hardware Foundation and NASCAR driver Erik Jones to support Children's Miracle Network Hospitals (CMN). As part of the 14th annual Racing for a Miracle program, they will donate $100,000 to benefit CMN Hospitals. Four children from Levine Children's Hospital helped design the race car's paint scheme. Despite COVID-19 limits, the kids enjoyed virtual experiences. Over 14 years, the program has raised $1.4 million for CMN Hospitals. The Ace Foundation will direct $25,000 of the donation to Levine Children's Hospital.

Stanley Black & Decker (NYSE: SWK) will host its third quarter 2020 earnings conference call on October 27, 2020, at 8:00 AM ET. A news release detailing financial results will precede the market opening on the same day. Accompanying slide presentation material will be available on their website. The conference call will be accessible via live webcast and telephone, with a replay offered two hours after the event. Stanley Black & Decker is a global provider of tools and security solutions.

Stanley Black & Decker (NYSE: SWK) will present at the Morgan Stanley Virtual 8th Annual Laguna Conference on September 17, 2020, at 9:45 AM ET. The presentation will be led by Jim Loree, President and CEO, and will be accessible via a live webcast on the company's website. A replay will be available for 30 days following the event. Stanley Black & Decker is a leading global provider of tools, electronic security, and healthcare solutions.

Stanley Black & Decker (NYSE: SWK) reported 2Q'20 revenues of $3.1 billion, a 16% decline year-over-year due to COVID-19 impacts. The operating margin rate fell by 200 basis points to 8.9%, though strong cost control and price realization helped mitigate losses. Diluted EPS was reported at $1.52, or $1.60 excluding charges. The company suspended its 2020 guidance but continues a $1 billion cost reduction program, achieving $175 million in savings in 2Q. Segment performance showed declines across Tools & Storage, Industrial, and Security, with particular improvements noted in DIY demand as the quarter progressed.

Stanley Black & Decker (NYSE: SWK) has announced a partnership with DeepHow to utilize its AI-driven platform for improving training and knowledge transfer among skilled workers. This initiative aims to enhance efficiency in training programs and promote a culture of safety. The collaboration will also help DeepHow expand its customer base in sectors like manufacturing and construction. With a focus on addressing the skilled labor shortage, this partnership seeks to create innovative solutions to meet industry challenges.

Stanley Black & Decker (NYSE: SWK) has approved a $0.01 increase in its quarterly cash dividend, raising it to $0.70 per share. This marks the 53^rd consecutive annual dividend increase, showcasing the company's commitment to returning value to shareholders. The dividend is scheduled for payment on September 15, 2020, to shareholders recorded by the market close on September 1, 2020. CEO James M. Loree emphasized that this dividend reflects the company's strong financial health and ongoing capital deployment strategy.