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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.
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.
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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.
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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 53rd 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.
Stanley Black & Decker (NYSE: SWK) announced its second quarter 2020 earnings conference call set for July 30, 2020, at 8:00 AM ET. A detailed financial results release will precede the call, and a slide presentation will be available on their website. Listeners can join via a live webcast or by telephone, with playback options also provided. This event is crucial as it will shed light on the company's performance amid the ongoing market challenges.
Stanley Black & Decker (NYSE:SWK) has been recognized in the 2020 100 Best Corporate Citizens ranking, achieving an overall rank of #45 and #6 in the Capital Goods Industry. This marks the company's first appearance on the list, which evaluates the ESG transparency and performance of the 1,000 largest public companies in the U.S. The ranking is based on 141 factors across eight pillars, including climate change and human rights. The company's CSR strategy aims to empower 10 million makers by 2030 and achieve carbon positivity in its operations.