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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) has released comprehensive guidance for winter snow removal and equipment maintenance. The company offers key recommendations through its brands DEWALT, CRAFTSMAN, Cub Cadet, and Troy-Bilt.
The guidance includes essential tips for choosing the right equipment based on snowfall amounts: single-stage blowers for up to 6 inches, two-stage for up to 12 inches, and three-stage for up to 23 inches. The company emphasizes the importance of proper maintenance, including checking for damage, replacing worn parts, and ensuring proper fluid levels.
Additional recommendations include marking driveway boundaries before snowfall, monitoring weather forecasts, wearing appropriate safety gear, and managing snow pile placement to prevent foundation damage. The company also showcases specific snow blower models from each brand, including both gas-powered and battery-operated options.
Stanley Black & Decker (NYSE: SWK) has announced two upcoming investor conference presentations by Pat Hallinan, Executive Vice President and CFO. The first presentation will be at the UBS Global Industrials and Transportation Conference in Palm Beach, FL on December 3, 2024, at 12:10 PM ET. The second will be at the Goldman Sachs Industrials and Materials Conference in New York, NY on December 4, 2024, at 10:00 AM ET.
Both presentations will be available via live webcasts in the Investors section of the company's website, with replays accessible for 30 days afterward.
Stanley Black & Decker (NYSE: SWK) hosted its 2024 Capital Markets Day, providing strategic updates and future financial targets. The company reaffirmed its 2024 guidance with GAAP EPS of $1.15-$1.75 and adjusted EPS of $3.90-$4.30, expecting free cash flow of $650-850 million. For 2027, SWK targets net sales of $16.5-17.0B, adjusted EBITDA of ~$2.5B, and free cash flow conversion of ~100%. The company aims to achieve sustainable 35%+ adjusted gross margins through operational excellence and market share growth initiatives.
Stanley Black & Decker (NYSE: SWK) has launched its 2024 'Hosting for the Holidays' Product Guide, an interactive digital experience showcasing holiday preparation solutions. The guide features virtual room-by-room tours highlighting products from brands like CRAFTSMAN, STANLEY, BLACK+DECKER, and Cub Cadet. The initiative addresses various holiday needs including snow removal equipment, decorating tools, cleaning solutions, and kitchen appliances. Expert recommendations include three-stage snow blowers for heavy snowfall, power tools for decorating, cleaning equipment for maintenance, and kitchen innovations like the bev Cocktail Machine.
DEWALT released a survey revealing Gen Z's commitment to skilled trades careers, with 68% fully committed despite facing significant barriers. The study shows that 52% of students were waitlisted for technical programs, highlighting access challenges. Once enrolled, students actively engage in internships (55%), mentorship (47%), and real work experience (46%).
The survey found that 80% of students were introduced to trades careers by age 15, with 77% feeling optimistic about their career choice. While 84% believe they'll be hired post-graduation, concerns include training costs (43%), networking opportunities (39%), and equipment access (33%). Notably, work-life balance (85%) and having a caring boss (79%) are important for retention, with one-third willing to leave if expectations aren't met.
Stanley Black & Decker (NYSE: SWK) has announced its upcoming 2024 Capital Markets Day, scheduled for November 20, 2024, at the New York Stock Exchange. The event will run from 9:00 AM ET to approximately 12:00 PM ET, featuring presentations on the company's businesses, transformation initiatives, and strategies. Senior management will also conduct Q&A sessions.
The event will be accessible via live webcast, with presentation materials and agenda available on the company's website under the 'Investors' section's '2024 Capital Markets Day Event Page.' A replay will remain available for at least 30 days following the event.
DEWALT, a brand of Stanley Black & Decker, announced the North American availability of the DEWALT POWERSHIFT™ Cordless Equipment System. This innovative line of electric construction tools is designed to reduce CO2e emissions by up to 60% compared to gas-powered equipment. Since its debut at the World of Concrete 2024, it has won several awards, including TIME's Best Inventions of 2024 and Fast Company's Innovation by Design Award. The system has been praised for its power, runtime, and ergonomics, aiming to enhance jobsite productivity and reduce environmental impact. The product line includes various tools such as vibrators, power screeds, and core drills, all tested and endorsed by workers for their ease of use and efficiency. The system also features TOOL CONNECT+™ technology for enhanced asset management and tool safety.
DEWALT POWERSHIFT™ is now available across North America.
DEWALT's POWERSHIFT™ System has been named one of TIME's Best Inventions of 2024, recognized in the sustainability category. The system, which produces up to 60% less CO2e emissions during use compared to gas-powered equipment, is the only tool manufacturer entry on the list. The six-piece cordless equipment system optimizes concrete jobsite workflow through electrification, eliminating gas-powered equipment hassles while maintaining performance. The system helps construction companies achieve compliance with government mandates regarding gas equipment and represents DEWALT's commitment to sustainable jobsite solutions.
Stanley Black & Decker (NYSE: SWK) has announced its participation in the Baird 2024 Global Industrial Conference in Chicago. Pat Hallinan, Executive Vice President and CFO, will deliver a presentation on Tuesday, November 12, 2024, at 2:55 PM CT (3:55 PM ET). The presentation will be accessible via live webcast in the 'Investors' section of the company's website, with a replay available for 30 days following the event.
Stanley Black & Decker (NYSE: SWK) reported Q3 2024 financial results with revenues of $3.8 billion, down 5% year-over-year. The company saw gross margin improvement to 29.9%, up 310 basis points, while adjusted gross margin reached 30.5%. GAAP EPS was $0.60, and adjusted EPS was $1.22. The company generated $286 million in operating cash flow and approximately $200 million in free cash flow. Management narrowed 2024 guidance, with GAAP EPS expected between $1.15-$1.75 and adjusted EPS between $3.90-$4.30. The company continues to execute its cost reduction program, targeting $2 billion in pre-tax run-rate savings by end of 2025.