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Stanley Black & Decker lifts 2026 EPS outlook to $5.45–$5.85

The quarter's EPS and gross-margin figures included approximately $0.67 per share and 430 basis points, respectively, from net tariff refunds.

Available on EDGAR Accepted by SEC EDGAR
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Form Type
8-K

Rhea-AI Filing Summary

Stanley Black & Decker reported third-quarter 2026 net sales of $3.7 billion, down 1% year over year but up 4% organically. Net earnings were $272.1 million, versus $51.4 million a year earlier; diluted EPS was $1.83 and adjusted EPS was $2.31, each including an approximately $0.67 benefit from net tariff refunds. Gross margin was 39.0%, up 760 basis points, including an approximately 430-basis-point benefit from net tariff refunds.

The company raised 2026 GAAP EPS guidance to $5.45–$5.85 and adjusted EPS to $5.95–$6.25; free cash flow guidance is now $1.0–$1.2 billion. It repurchased approximately 2.5 million shares for approximately $250 million in the quarter and approved a new authorization for up to $1 billion, expiring October 29, 2029. Repurchases are discretionary, and the company has no obligation to make them.

3 points · 1 major

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 0 points

Hollow bars mark forward-looking points. How the balance works

Positive

  • Major point. Forward-looking: it has not happened yet and may not happen.2026 GAAP EPS guidance rose to $5.45–$5.85; adjusted EPS guidance rose to $5.95–$6.25.
  • Moderate pointThird-quarter net earnings were $272.1 million, versus $51.4 million a year earlier.
  • Moderate point. Forward-looking: it has not happened yet and may not happen.2026 free cash flow guidance rose to $1.0–$1.2 billion.

Negative

  • None.
Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Net sales $3.7 billion Third quarter 2026; down 1% total and up 4% organically year over year.
Net earnings $272.1 million Third quarter 2026; compared with $51.4 million in third quarter 2025.
Diluted EPS $1.83 Third quarter 2026; includes an approximately $0.67 benefit from net tariff refunds.
Adjusted EPS $2.31 Third quarter 2026; includes an approximately $0.67 benefit from net tariff refunds.
Gross margin 39.0% Third quarter 2026; up 760 basis points year over year, including an approximately 430-basis-point net tariff-refund benefit.
Free cash flow $585 million Third quarter 2026, before dividends.
2026 free cash flow guidance $1.0 billion to $1.2 billion Revised from $600 million to $800 million.
Share repurchase authorization Up to $1 billion Approved October 29, 2026; expires October 29, 2029.
organic growth financial
"organic growth in the quarter, which was up 4 percent"
Organic growth is the increase in a company's sales or profits that comes from its own activities, such as selling more products or services, rather than through acquisitions or mergers. It is like a plant growing taller on its own, without needing outside help. For investors, it indicates the company's ability to expand steadily and sustainably through its existing business efforts.
adjusted EPS financial
"adjusted EPS range to $5.95 to $6.25"
Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.
free cash flow financial
"defined as cash flow from operations less capital and software expenditures"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
accelerated share repurchase programs financial
"including one or more accelerated share repurchase programs"
An accelerated share repurchase program is a way for a company to buy back its own shares quickly, often within a short period. It typically involves a financial partner temporarily purchasing a large number of shares on behalf of the company, which are then gradually returned to the company’s treasury. This process allows the company to boost its stock price and earnings per share, making it important for investors tracking company performance.
Net sales $3.7 billion Down 1% year over year
Net earnings $272.1 million Versus $51.4 million in third quarter 2025
Diluted EPS $1.83 Versus $0.34 in third quarter 2025
Adjusted EPS $2.31 Versus $1.43 in third quarter 2025
Gross margin 39.0% Up 760 basis points year over year
Free cash flow $585 million Versus $155.3 million in third quarter 2025
Guidance

2026 GAAP EPS of $5.45 to $5.85, raised from $4.60 to $5.45; adjusted EPS of $5.95 to $6.25, raised from $5.20 to $5.80; free cash flow of $1.0 billion to $1.2 billion, revised from $600 million to $800 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When does SWK's new $1 billion share repurchase authorization expire?
The Board approved authorization for the company to repurchase up to $1 billion of common stock on October 29, 2026; it expires October 29, 2029. Repurchases may be made through open-market purchases, privately negotiated transactions, or repurchase programs, including accelerated share repurchase programs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0000093556false00000935562026-11-042026-11-04

image0a20.jpg
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549 
 FORM 8-K
 CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 4, 2026
 
 Stanley Black & Decker, Inc.
(Exact name of registrant as specified in its charter) 
CT1-522406-0548860
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(I.R.S. Employer
Identification No.)

1000 STANLEY DRIVE
NEW BRITAIN, CT 06053
(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (860) 225-5111

Not Applicable
(Former name or former address, if changed since last report) 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title Of Each ClassTrading SymbolsName Of Each Exchange On Which Registered
Common Stock- $2.50 Par Value per ShareSWKNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨


Item 2.02 Results of Operations and Financial Condition
On November 4, 2026, Stanley Black & Decker, Inc. ("the Company") issued a press release announcing third quarter 2026 results.

Item 7.01 Regulation FD Disclosure
Also, in the press release issued on November 4, 2026, the Company announced that its Board of Directors approved a new share repurchase authorization on October 29, 2026, authorizing the Company to repurchase up to $1 billion of its common stock (the “Share Repurchase Authorization”) and terminated its prior share repurchase authorization. The Share Repurchase Authorization will expire 36 months from the date of approval. A copy of the press release announcing the Share Repurchase Authorization is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Under the Share Repurchase Authorization, the Company may repurchase shares through open market purchases, privately negotiated transactions or share repurchase programs, including one or more accelerated share repurchase programs (under which an initial payment for the entire repurchase amount may be made at the inception of the program). Such repurchases may be funded from cash on hand, short-term borrowings or other sources of cash at the Company’s discretion. The Company is under no obligation to repurchase any shares pursuant to the Share Repurchase Authorization and repurchases may be suspended or terminated at any time at the Company’s discretion. The amount and timing of repurchases are subject to a variety of factors including, but not limited to, liquidity, share price, market conditions, and legal requirements.

Cautionary Note Regarding Forward-Looking Statements
The Company makes forward-looking statements in this Current Report on Form 8-K which represent its expectations or beliefs about future events and financial performance. These forward-looking statements are sometimes identified from the use of forward-looking words such as “will,” “may” or similar expressions elsewhere in this report. All forward-looking statements are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors and risks include, but are not limited to, unanticipated developments that prevent, delay or negatively impact the repurchases and other financial, operational and legal risks and uncertainties detailed from time to time in the Company’s risk factors and cautionary statements contained in its filings with the Securities and Exchange Commission. These forward-looking statements represent the Company’s judgment as of the date of this report. The Company disclaims, however, any intent or obligation to update these forward-looking statements.
 
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
 
Exhibit No.Description
99.1
Press release dated November 4, 2026, issued by Stanley Black & Decker, Inc.
99.2
Financial statements and supporting schedules contained in Stanley Black & Decker, Inc.'s November 4, 2026 press release.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Stanley Black & Decker, Inc.
November 4, 2026By:/s/ Patrick Hallinan
Name:Patrick Hallinan
Title:Executive Vice President, Chief Financial Officer & Chief Administrative Officer


Exhibit 99.1
a2q14pressreleaseimagea15a.jpg

Stanley Black & Decker Reports 3Q 2026 Results

Results Include Benefit from Additional Tariff Refunds in 3Q, Supporting Increases to 2026 EPS and Free Cash Flow Guidance

Organic Growth and Margin Expansion Progress Continued in 3Q, Excluding the Benefit from Tariff Refunds

Executed Incremental $250 Million of Share Repurchases and Announces New Share Repurchase Authorization for an Additional $1 Billion


New Britain, Connecticut, November 4, 2026 … Stanley Black & Decker (NYSE: SWK), a global leader in tools and outdoor solutions, today announced third quarter 2026 financial results.

3Q 2026 Highlights (all comparisons versus prior year)

•Net sales of $3.7 billion, down 1% and up 4% on an organic* basis
•Gross margin of 39.0%, up 760 basis points; adjusted gross margin* of 39.4%, up 780 basis points; both included a benefit of approximately 430 basis points from net tariff refunds1
•EPS of $1.83; adjusted EPS* of $2.31; both included a benefit of approximately $0.67 from net tariff refunds1
•Cash from operating activities was $659 million and free cash flow* was $585 million
•Incremental $250 million of share repurchases executed in 3Q, fully utilizing prior authorization; Board of Directors approved a new $1 billion share repurchase authorization on October 29

Chris Nelson, Stanley Black & Decker's President & CEO, commented, “We saw strong underlying performance in the Tools & Outdoor segment in the third quarter, with continued strength in the U.S. retail and commercial & industrial channels. We were particularly encouraged by our organic growth* in the quarter, which was up 4 percent, demonstrating that our brand activation and innovation efforts are yielding results. Our third quarter performance reinforces the conviction we have in our full-year outlook and our long-term strategy.

“As we continue building momentum in the business, we remain focused on disciplined execution to drive profitable growth and long-term shareholder value.



1 Includes IEEPA tariff refund gain partially offset by directly attributable variable incentive compensation costs, growth investments, and taxes (for EPS only)

* Non-GAAP financial measure, as further defined in the Non-GAAP Financial Measures section below

1

Exhibit 99.1
The Board's new share repurchase authorization extends our flexibility to continue returning capital to shareholders in a thoughtful and balanced manner, while we invest in the business to advance our strategic priorities and create value."

3Q 2026 Results (all comparisons versus prior year)

•Net sales of $3.7 billion, down 1% on a total basis and up 4% organically*. Higher volume (+6%) was offset by pricing (-2%) and portfolio changes (-4%). Currency was flat. The volume strength was primarily driven by U.S. retail and commercial & industrial channels in Tools & Outdoor.

•Gross margin of 39.0%, up 760 basis points; Adjusted gross margin* of 39.4%, up 780 basis points; both included an approximate 430 basis point benefit from net tariff refunds1.

•SG&A expenses of 24.2% of sales, up 310 basis points; Adjusted SG&A expenses* of 24.2%, up 320 basis points; both increases included incremental costs and investments tied to tariff refunds received.

•The tax rate was 24.0% and the adjusted tax rate* was 23.3%.

•Net earnings were 7.3% of sales, an increase of 590 basis points. EBITDA margin* was 14.1%, an increase of 760 basis points, and adjusted EBITDA margin* was 16.3%, an increase of 400 basis points.

3Q 2026 Segment Results
($ in M)SalesSegment Profit
Charges2
Adj. Segment Profit*Segment MarginAdj. Segment Margin*
Tools & Outdoor$3,336$568.7$18.2$586.917.0%17.6%
Engineered Fastening$396$46.1$0.3$46.411.7%11.7%
Tools & Outdoor net sales were up 2% year over year, as higher volume (+7%) was partially offset by pricing (-3%) and the previously announced strategic transition to a licensing model for the gas walk-behind outdoor products (-2%). Currency was flat. Organic revenue* increased 4%, primarily driven by power tools, as well as strength in U.S. retail and commercial & industrial channels. North America net sales were up 3% on a total basis and up 6% organically*, Europe was down 1% on a total basis and up 1% organically*, while the Rest of World was up 2% on a total basis and down 1% organically*.


1 Includes IEEPA tariff refund gain partially offset by directly attributable variable incentive compensation costs, growth investments, and taxes (for EPS only)
2 See the reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures in the section titled “Reconciliation of GAAP Segment Profit Financial Measure to Corresponding Non-GAAP Financial Measures” in the accompanying financial statements
* Non-GAAP financial measure, as further defined in the Non-GAAP Financial Measures section below

2
Exhibit 99.1
The Tools & Outdoor segment margin was 17.0%, up 520 basis points year over year. Adjusted segment margin* was 17.6%, up 560 basis points year over year. Segment margin improvement reflected net productivity gains and favorable product mix. In addition, the net tariff refunds1 raised segment margin by approximately 430 basis points.

Engineered Fastening net sales were down 21% year over year, due to the CAM divestiture (-22%), which was partially offset by volume (+1%) and pricing (+1%), while currency was down (-1%). Organic revenues* were up 2%, driven by broad-based industrial strength, partially offset by automotive results below expectations. The Engineered Fastening segment margin was 11.7%, down 20 basis points year over year, and adjusted segment margin* was 11.7%, down 110 basis points year over year. Year-over-year segment margin was impacted by automotive demand pressure.

Board of Directors and Capital Allocation Update
On October 1, 2026, Debra Crew transitioned to Independent Chair of the Board, following the retirement of Executive Chair, Donald Allan, Jr., as previously announced in January 2026.

During the third quarter, the Company repurchased approximately 2.5 million shares for approximately $250 million, fully utilizing the $500 million repurchase authorization approved in April 2026. The Board of Directors has approved a new repurchase authorization for up to $1 billion on October 29, 2026, which will expire on October 29, 2029.

Patrick Hallinan, EVP, Chief Financial Officer & Chief Administrative Officer, commented, “We delivered a strong third quarter, achieving organic growth and margin expansion as we continued executing our strategy and investing for growth in a dynamic macro environment. Looking ahead, we remain focused on delivering our 2026 and longer-term growth, margin, and cash flow objectives.

“Our continued investment in growth, alongside our dividend and new share repurchase authorization, reflects our disciplined and balanced approach to capital allocation designed to accelerate shareholder value creation.”

2026 Guidance
The Company is raising 2026 GAAP EPS to be in the range of $5.45 to $5.85, from a prior range of $4.60 to $5.45. The Company is also raising and tightening the adjusted EPS* range to $5.95 to $6.25, from a prior range of $5.20 to $5.80. These ranges represent year over year growth of 113% and 31%, respectively, at the midpoint of each range as compared to 2025 performance. Free cash flow* is now expected to be in the range of $1.0 billion to $1.2 billion, revised from $600 million to $800 million, which incorporates the tariff refund realized year-to-date and projected taxes and fees associated with the CAM divestiture. The Company will discuss underlying assumptions on the earnings call.

1 Includes IEEPA tariff refund gain partially offset by directly attributable variable incentive compensation costs, growth investments, and taxes (for EPS only)
* Non-GAAP financial measure, as further defined in the Non-GAAP Financial Measures section below

3
Exhibit 99.1
The difference between the GAAP and Adjusted EPS* assumption range is approximately $0.40 to $0.50, consisting primarily of charges related to footprint actions and other cost actions, partially offset by the gain on the sale of the CAM business and related tax impact.

3Q 2026 Non-GAAP Adjustments
Total pre-tax non-GAAP adjustments in the third quarter were $89.3 million, primarily related to restructuring costs, a non-cash asset impairment charge, and costs associated with footprint actions. Gross profit and SG&A included $16.6 million and $2.8 million of charges, respectively, while Other-net included a net charge of $0.3 million. The Company also recorded restructuring charges of $29.5 million, an asset impairment charge of $19.7 million, and a $20.4 million loss on the sale of a small business in the Engineered Fastening segment.

Earnings Webcast
Stanley Black & Decker will host a webcast with investors today, November 4, 2026, at 8:00 am ET. The call will be available through a live teleconference and a listen-only webcast.

Direct links to register for the teleconference, access the webcast, and view the accompanying slide presentation will be available on the Stanley Black & Decker Investors website (www.stanleyblackanddecker.com/investors), under "Events." A replay will be available in the same location approximately two hours after the call.

About Stanley Black & Decker
Founded in 1843 and headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is a worldwide leader in Tools and Outdoor, operating manufacturing facilities globally. The Company's approximately 41,000 employees produce innovative end-user inspired power tools, hand tools, storage, digital jobsite solutions, outdoor and lifestyle products, and engineered fasteners to support the world’s builders, tradespeople and DIYers. The Company's world class portfolio of trusted brands includes DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®. To learn more visit: www.stanleyblackanddecker.com or follow Stanley Black & Decker on Facebook, Instagram, LinkedIn and X.

Investor Contacts:
Michael WherleyChristina Francis
Vice President, Investor Relations
Senior Director, Investor Relations
michael.wherley@sbdinc.com
christina.francis@sbdinc.com
(860) 827-3833
(860) 438-3470

1 Includes IEEPA tariff refund gain partially offset by directly attributable variable incentive compensation costs, growth investments, and taxes (for EPS only)

* Non-GAAP financial measure, as further defined in the Non-GAAP Financial Measures section below
4
Exhibit 99.1
Media Contacts:
Debora Raymond
Vice President, Public Relations
debora.raymond@sbdinc.com
(203) 640-8054


Non-GAAP Financial Measures

Organic revenue or organic sales is defined as the difference between total current and prior year sales less the impact of companies acquired and divested in the past twelve months, foreign currency fluctuations, transfers of product lines between segments, and the strategic transition to a licensing model for gas walk-behind outdoor product lines (as previously communicated). Organic revenue growth, organic sales growth or organic growth is organic revenue or organic sales divided by prior year sales. Gross profit is defined as sales less cost of sales. Gross margin is gross profit as a percent of sales. Segment profit is defined as sales less cost of sales and selling, general and administrative (“SG&A”) expenses (aside from corporate overhead expense). Segment margin is segment profit as a percent of sales. EBITDA is earnings before interest, taxes, depreciation and amortization. EBITDA margin is EBITDA as a percent of sales. Gross profit, gross margin, SG&A, segment profit, segment margin, earnings, EBITDA and EBITDA margin are adjusted for certain gains and charges, such as costs related to supply chain transformation and footprint actions, asset impairments, voluntary retirement program costs, divestiture-related items, restructuring, gains or losses on sales of businesses, and other adjusting items. Income taxes attributable to Non-GAAP adjustments are determined by calculating income taxes on pre-tax earnings, both inclusive and exclusive of Non-GAAP adjustments, taking into consideration the nature of the Non-GAAP adjustments and the applicable statutory income tax rates.

Management uses these metrics as key measures to assess the performance of the Company as a whole, as well as the related measures at the segment level. Adjusted earnings per share or adjusted EPS, is diluted GAAP EPS excluding certain gains and charges. Free cash flow is defined as cash flow from operations less capital and software expenditures. Management considers free cash flow an important indicator of its liquidity, as well as its ability to fund future growth and to provide a return to the shareowners and is useful information for investors. Free cash flow does not include deductions for mandatory debt service, other borrowing activity, discretionary dividends on the Company’s common stock and business acquisitions, among other items. Free cash flow conversion is defined as free cash flow divided by net income. Net debt to adjusted EBITDA is total debt less cash on hand divided by adjusted EBITDA. The Non-GAAP financial measures are reconciled to GAAP in the accompanying financial statements and in the appendix to the earnings conference call slides available at http://www.stanleyblackanddecker.com/investors. The Company considers the use of the Non-GAAP financial measures above relevant to aid analysis and understanding of the Company’s results, business trends and outlook measures aside from the material impact of certain gains and charges and ensures appropriate comparability to operating results of prior periods.

The Company provides expectations for the non-GAAP financial measures of full year 2026 adjusted EPS, presented on a basis excluding certain gains and charges, as well as 2026 free cash flow. Forecasted full-year 2026 adjusted EPS is reconciled to forecasted full-year 2026 GAAP EPS under “2026 Guidance”. Consistent with past methodology, the forecasted full-year 2026 GAAP EPS excludes the impacts of potential acquisitions and divestitures (unless otherwise noted), future regulatory changes or strategic shifts that could impact the Company's contingent liabilities or intangible assets, respectively, potential future cost actions in response to external factors that have not yet occurred, and any other items not specifically referenced under “2026 Guidance”. A reconciliation of forecasted free cash flow to its most directly comparable GAAP estimate is not available without unreasonable effort due to high variability and difficulty in predicting items that impact cash flow from operations, which could be material to the Company’s results in accordance with U.S. GAAP. The Company believes such a reconciliation would also imply a degree of precision that is inappropriate for this forward-looking measure.

The Company may also provide multi-year strategic goals for the non-GAAP financial measures of adjusted gross margin and net debt to adjusted EBITDA, presented on a basis excluding certain gains and charges. A reconciliation for these non-GAAP measures is not available without unreasonable effort due to
5
Exhibit 99.1
the inherent difficulty of forecasting the timing and/or amount of various items that have not yet occurred, including the high variability and low visibility with respect to certain gains or charges that would generally be excluded from non-GAAP financial measures and which could be material to the Company’s results in accordance with U.S. GAAP. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with the Company’s accounting policies for future periods requires a level of precision that is unavailable for these future multi-year periods and cannot be accomplished without unreasonable effort. The Company believes such a reconciliation would also imply a degree of precision that is inappropriate for these forward-looking measures.

CAUTIONARY STATEMENT
CONCERNING FORWARD-LOOKING STATEMENTS

This document contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any goals, projections, guidance or planning assumptions or scenarios; any statements of the plans, strategies and objectives of management for future operations, including expectations around productivity and efficiency goals and future operational strategies; any statements regarding future economic conditions or performance; any statements concerning future dividends or share repurchases; any statements and assumptions or scenarios regarding possible tariff and tariff impact projections, including those relating to Section 122, 232, or 301 tariffs, tariff refunds and related mitigation plans (including price actions, supply chain adjustments and expected timing and benefits related to such plans); and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include, among others, the words “may,” “will,” “estimate,” “intend,” “could,” “project,” “plan,” “continue,” “believe,” “expect,” “anticipate” “annualized”, “forecast”, “commit”, “goal”, “target”, “design”, “on track”, “position or positioning”, “guidance,” “aim,” “looking forward,” “multi-year” or any other similar words. Although the Company believes that the expectations reflected in any of its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of its forward-looking statements. The Company's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, such as those disclosed or incorporated by reference in the Company's filings with the Securities and Exchange Commission.

Important factors that could cause the Company's actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in its forward-looking statements include, among others, the following: (i) successfully developing, marketing and achieving sales from new products and services and the continued acceptance of current products and services as well as successful execution of, and realization of expected benefits from, the Company’s brand prioritization and investment strategy; (ii) macroeconomic factors, including global and regional business conditions, commodity availability and prices, inflation and deflation, interest rate volatility, currency exchange rates, and uncertainties in the global financial markets; (iii) laws, regulations and governmental policies affecting the Company's activities in the countries where it does business or sources supply inputs, including those related to, taxation, data privacy, anti-bribery, anti-corruption, government contracts, and trade controls, including but not limited to, tariffs, import and export controls, raw material and rare earth related controls and other monetary and non-monetary trade regulations or barriers; (iv) the Company’s ability to predict the timing and extent of any trade related regulations (or any court rulings in response thereto), clearances, restrictions or policies, including but not limited to, trade barriers, tariffs, raw material and rare earth related controls, as well as its ability to successfully assess the impact to its business of, and mitigate or respond to, such macroeconomic or trade, tariff and raw material and rare earth import/export control changes, regulations or policies (including, but not limited to, the Company’s ability to predict and respond to court rulings in response thereto, or to obtain price increases from its customers and complete effective supply chain adjustments within anticipated time frames and ability to obtain rare earth related supply clearances and the ultimate amount and timing of any tariff refunds); (v) realizing the anticipated benefits of mergers, acquisitions, joint ventures, strategic alliances or divestitures and the costs associated with such transactions; (vi) pricing pressure and other changes within competitive markets; (vii) availability and price of raw materials, rare earth materials, component parts, freight, energy, labor and sourced finished goods; (vii) potential business, supply chain and distribution disruptions, including those related to physical security threats, information technology or cyber-attacks, epidemics, natural disasters or pandemics, sanctions, political unrest, war or terrorism, including the conflicts between Russia and Ukraine, and Israel and Hamas, and tensions or conflicts in South Korea, China, Taiwan and the Middle East (including the ongoing conflict in Iran); (viii) potential adverse developments in new or pending litigation and/or government investigations; (ix) potential regulatory liabilities, including environmental, privacy, data breach, workers compensation and product liabilities; (x) failure to successfully effectuate, or to realize the expected benefits of, the Company’s value creation, debt reduction and capital allocation strategy, including its share repurchase authorization; (xi) unanticipated developments that may prevent, delay or
6
Exhibit 99.1
negatively impact repurchases under the Company’s share repurchase authorization; (xii) and the other factors set forth in the Annual Report on Form 10-K and in the Quarterly Reports on Form 10-Q, including under the headings “Risk Factors,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in the Consolidated Financial Statements and the related Notes, and other filings with the Securities and Exchange Commission.

Forward-looking statements, and the factors that could cause actual results to differ materially from those forward-looking statements, in this press release speak only as of the date hereof, and forward-looking statements in documents that are incorporated by reference herein speak only as of the date of those documents. The Company does not undertake any obligation or intention to update or revise any forward-looking statements, except as required by law.
7
Exhibit 99.2
STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, Millions of Dollars Except Per Share Amounts) 

THIRD QUARTERYEAR-TO-DATE
2026202520262025
NET SALES$3,731.6 $3,756.0 $11,538.7 $11,445.8 
COSTS AND EXPENSES
Cost of sales2,278.1 2,576.9 7,622.1 8,079.4 
Gross profit1,453.5 1,179.1 3,916.6 3,366.4 
% of Net Sales39.0 %31.4 %33.9 %29.4 %
Selling, general and administrative904.5 791.0 2,736.4 2,531.1 
% of Net Sales24.2 %21.1 %23.7 %22.1 %
Other - net64.3 72.2 159.1 187.4 
Loss (gain) on sales of businesses20.4 — (250.2)0.3 
Asset impairment charges19.7 169.1 47.7 169.1 
Restructuring charges29.5 32.1 89.5 52.1 
Income from operations415.1 114.7 1,134.1 426.4 
Interest - net56.9 79.1 192.1 236.5 
EARNINGS BEFORE INCOME TAXES358.2 35.6 942.0 189.9 
Income taxes86.1 (15.8)259.0 (53.8)
NET EARNINGS$272.1 $51.4 $683.0 $243.7 
EARNINGS PER SHARE OF COMMON STOCK
Basic$1.84 $0.34 $4.56 $1.61 
Diluted$1.83 $0.34 $4.54 $1.61 
DIVIDENDS PER SHARE OF COMMON STOCK$0.84 $0.83 $2.50 $2.47 
WEIGHTED-AVERAGE SHARES OUTSTANDING (in thousands)
Basic147,597151,341149,714151,195
Diluted148,626151,958150,462151,800
8
Exhibit 99.2
STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, Millions of Dollars)
 
October 3, 2026January 3, 2026
ASSETS
Cash and cash equivalents$741.2 $280.1 
Accounts and notes receivable, net1,370.5 919.7 
Inventories, net3,841.5 4,157.1 
Current assets held for sale89.9 262.4 
Other current assets376.9 359.7 
Total current assets6,420.0 5,979.0 
Property, plant and equipment, net1,644.1 1,831.8 
Goodwill and other intangibles, net10,062.7 10,374.8 
Long-term assets held for sale212.4 1,273.9 
Other assets1,705.0 1,784.2 
Total assets$20,044.2 $21,243.7 
LIABILITIES AND SHAREOWNERS’ EQUITY
Short-term borrowings$— $605.6 
Current maturities of long-term debt— 554.8 
Accounts payable2,423.4 2,163.0 
Accrued expenses2,035.8 1,878.1 
Current liabilities held for sale62.4 44.2 
Total current liabilities4,521.6 5,245.7 
Long-term debt4,704.7 4,703.3 
Long-term liabilities held for sale16.3 9.4 
Other long-term liabilities1,960.1 2,230.7 
Shareowners’ equity8,841.5 9,054.6 
Total liabilities and shareowners' equity$20,044.2 $21,243.7 

9
Exhibit 99.2
STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
SUMMARY OF CASH FLOW ACTIVITY
(Unaudited, Millions of Dollars)
 
THIRD QUARTERYEAR-TO-DATE
2026202520262025
OPERATING ACTIVITIES
Net earnings$272.1 $51.4 $683.0 $243.7 
Depreciation84.6 92.9 270.8 276.7 
Amortization26.2 37.3 82.4 112.0 
Loss (gain) on sales of businesses20.4 — (250.2)0.3 
Asset impairment charges19.7 169.1 47.7 169.1 
Changes in working capital1
34.2 (38.7)(72.5)(380.1)
Other201.3 (90.8)271.6 (406.2)
Net cash provided by operating activities658.5 221.2 1,032.8 15.5 
INVESTING AND FINANCING ACTIVITIES
Capital and software expenditures(73.5)(65.9)(196.9)(210.5)
Proceeds from sales of businesses, net of cash sold— — 1,814.7 5.0 
Payments on long-term debt (53.6)(350.1)(553.7)(850.4)
Net short-term commercial paper borrowings (repayments)— 287.9 (604.8)1,325.9 
Purchases of common stock for treasury(250.9)(2.2)(518.3)(14.7)
Cash settlement on forward stock purchase contract— — (125.0)— 
Cash dividends on common stock(122.9)(125.8)(373.2)(374.3)
Other13.1 2.9 24.2 19.9 
Net cash used in investing and financing activities(487.8)(253.2)(533.0)(99.1)
Effect of exchange rate changes on cash(25.6)(5.8)(38.1)68.3 
Increase (decrease) in cash, cash equivalents and restricted cash145.1 (37.8)461.7 (15.3)
Cash, cash equivalents and restricted cash, beginning of period604.0 315.3 287.4 292.8 
Cash, cash equivalents and restricted cash, end of period$749.1 $277.5 $749.1 $277.5 
Free Cash Flow Computation2
Net cash provided by operating activities$658.5 $221.2 $1,032.8 $15.5 
Less: capital and software expenditures(73.5)(65.9)(196.9)(210.5)
Free cash flow (before dividends)$585.0 $155.3 $835.9 $(195.0)
Reconciliation of Cash, Cash Equivalents and Restricted Cash
October 3,
2026		January 3,
2026
Cash and cash equivalents$741.2 $280.1 
Restricted cash included in Other current assets7.4 7.3 
Cash and cash equivalents included in Current assets held for sale0.5 — 
Cash, cash equivalents and restricted cash$749.1 $287.4 
1
Working capital is comprised of accounts receivable, inventory, accounts payable and deferred revenue.
2
Free cash flow is defined as cash flow from operations less capital and software expenditures. Management considers free cash flow an important measure of its liquidity, as well as its ability to fund future growth and to provide a return to the shareowners, and is useful information for investors. Free cash flow does not include deductions for mandatory debt service, other borrowing activity, discretionary dividends on the Company’s common stock and business acquisitions, among other items.
10
Exhibit 99.2
STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
BUSINESS SEGMENT INFORMATION
(Unaudited, Millions of Dollars)

 
THIRD QUARTERYEAR-TO-DATE
2026202520262025
NET SALES
Tools & Outdoor$3,336.1 $3,255.5 $10,236.0 $9,997.8 
Engineered Fastening1
395.5 500.5 1,302.7 1,448.0 
Total$3,731.6 $3,756.0 $11,538.7 $11,445.8 
SEGMENT PROFIT 2
Tools & Outdoor$568.7 $383.2 $1,233.7 $910.5 
Engineered Fastening1
$46.1 $59.8 $158.6 $133.8 
CORPORATE OVERHEAD 2
$(65.8)$(54.9)$(212.1)$(209.0)
Segment Profit as a Percentage of Net Sales
Tools & Outdoor17.0 %11.8 %12.1 %9.1 %
Engineered Fastening1
11.7 %11.9 %12.2 %9.2 %
1
On April 6, 2026, the Company completed the previously announced sale of its Consolidated Aerospace Manufacturing (“CAM”) business. Based on management’s commitment to sell this business, the assets and liabilities related to CAM were classified as held for sale on the Company’s Condensed Consolidated Balance Sheets as of January 3, 2026. For the three months ended October 3, 2026, the net sales and segment profit for Engineered Fastening did not include results of the CAM business. For the nine months ended October 3, 2026, net sales and segment profit for Engineered Fastening included $117.0 million and $22.0 million, respectively, related to the CAM business.
2
Segment profit is defined as net sales minus cost of sales and SG&A (aside from corporate overhead expenses). The corporate overhead element of SG&A, which is not allocated to the business segments for purposes of determining segment profit, consists of the costs associated with the executive management team and expenses related to centralized functions that benefit the entire Company but are not directly attributable to the business segments, such as legal and corporate finance functions, as well as expenses for the world headquarters facility.

11
Exhibit 99.2
STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP EARNINGS FINANCIAL MEASURES TO CORRESPONDING
NON-GAAP FINANCIAL MEASURES
(Unaudited, Millions of Dollars Except Per Share Amounts)

 
THIRD QUARTER 2026
GAAPNon-GAAP Adjustments
Non-GAAP1
Gross profit$1,453.5 $16.6 $1,470.1 
% of Net Sales39.0 %39.4 %
Selling, general and administrative904.5 (2.8)901.7 
% of Net Sales24.2 %24.2 %
Earnings before income taxes358.2 89.3 447.5 
Income taxes2
86.1 18.0 104.1 
Net earnings272.1 71.3 343.4 
Diluted earnings per share of common stock$1.83 $0.48 $2.31 
THIRD QUARTER 2025
GAAPNon-GAAP Adjustments
Non-GAAP1
Gross profit$1,179.1 $8.0 $1,187.1 
% of Net Sales31.4 %31.6 %
Selling, general and administrative791.0 (4.1)786.9 
% of Net Sales21.1 %21.0 %
Earnings before income taxes35.6 217.6 253.2 
Income taxes2
(15.8)51.3 35.5 
Net earnings51.4 166.3 217.7 
Diluted earnings per share of common stock$0.34 $1.09 $1.43 
1
The Non-GAAP 2026 and 2025 information, as reconciled to GAAP above, is considered relevant to aid analysis and understanding of the Company’s results and business trends aside from the material impact of certain gains and charges and ensures appropriate comparability to operating results of prior periods. See further detail on Non-GAAP adjustments on page 16.
2
Income taxes attributable to Non-GAAP adjustments are determined by calculating income taxes on pre-tax earnings, both inclusive and exclusive of Non-GAAP adjustments, taking into consideration the nature of the Non-GAAP adjustments and the applicable statutory income tax rates.
 


12
Exhibit 99.2
STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP EARNINGS FINANCIAL MEASURES TO CORRESPONDING
NON-GAAP FINANCIAL MEASURES
(Unaudited, Millions of Dollars Except Per Share Amounts)

 
YEAR-TO-DATE 2026
GAAPNon-GAAP Adjustments
Non-GAAP1
Gross profit$3,916.6 $50.5 $3,967.1 
% of Net Sales33.9 %34.4 %
Selling, general and administrative2,736.4 (13.5)2,722.9 
% of Net Sales23.7 %23.6 %
Earnings before income taxes942.0 (51.0)891.0 
Income taxes2
259.0 (69.3)189.7 
Net earnings683.0 18.3 701.3 
Diluted earnings per share of common stock$4.54 $0.12 $4.66 
YEAR-TO-DATE 2025
GAAPNon-GAAP Adjustments
Non-GAAP1
Gross profit$3,366.4 $44.7 $3,411.1 
% of Net Sales29.4 %29.8 %
Selling, general and administrative2,531.1 (78.7)2,452.4 
% of Net Sales22.1 %21.4 %
Earnings before income taxes189.9 332.1 522.0 
Income taxes2
(53.8)80.6 26.8 
Net earnings243.7 251.5 495.2 
Diluted earnings per share of common stock$1.61 $1.65 $3.26 
1
The Non-GAAP 2026 and 2025 information, as reconciled to GAAP above, is considered relevant to aid analysis and understanding of the Company’s results and business trends aside from the material impact of certain gains and charges and ensures appropriate comparability to operating results of prior periods. See further detail on Non-GAAP adjustments on page 16.
2
Income taxes attributable to Non-GAAP adjustments are determined by calculating income taxes on pre-tax earnings, both inclusive and exclusive of Non-GAAP adjustments, taking into consideration the nature of the Non-GAAP adjustments and the applicable statutory income tax rates.
 


13
Exhibit 99.2
STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP SEGMENT PROFIT FINANCIAL MEASURES TO CORRESPONDING
NON-GAAP FINANCIAL MEASURES
(Unaudited, Millions of Dollars)
 
THIRD QUARTER 2026
GAAP
Non-GAAP Adjustments1
Non-GAAP2
SEGMENT PROFIT
Tools & Outdoor$568.7 $18.2 $586.9 
Engineered Fastening$46.1 $0.3 $46.4 
CORPORATE OVERHEAD$(65.8)$0.9 $(64.9)
Segment Profit as a Percentage of Net Sales
Tools & Outdoor17.0 %17.6 %
Engineered Fastening11.7 %11.7 %
THIRD QUARTER 2025
GAAP
Non-GAAP Adjustments1
Non-GAAP2
SEGMENT PROFIT
Tools & Outdoor$383.2 $6.8 $390.0 
Engineered Fastening$59.8 $4.1 $63.9 
CORPORATE OVERHEAD$(54.9)$1.2 $(53.7)
Segment Profit as a Percentage of Net Sales
Tools & Outdoor11.8 %12.0 %
Engineered Fastening11.9 %12.8 %
1
The 2026 Non-GAAP adjustments for the Tools & Outdoor segment relate primarily to footprint actions. The 2025 Non-GAAP adjustments for the business segments relate primarily to footprint actions and other costs associated with the supply chain transformation. See further discussion on page 16.
2The Non-GAAP 2026 and 2025 business segment and corporate overhead information, as reconciled to GAAP above, is considered relevant to aid analysis and understanding of the Company’s results and business trends aside from the material impact of certain gains and charges and ensures appropriate comparability to operating results of prior periods.












14
Exhibit 99.2
STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP SEGMENT PROFIT FINANCIAL MEASURES TO CORRESPONDING
NON-GAAP FINANCIAL MEASURES
(Unaudited, Millions of Dollars)
 
YEAR-TO-DATE 2026
GAAP
Non-GAAP Adjustments1
Non-GAAP2
SEGMENT PROFIT
Tools & Outdoor$1,233.7 $61.3 $1,295.0 
Engineered Fastening$158.6 $0.6 $159.2 
CORPORATE OVERHEAD$(212.1)$2.1 $(210.0)
Segment Profit as a Percentage of Net Sales
Tools & Outdoor12.1 %12.7 %
Engineered Fastening12.2 %12.2 %
YEAR-TO-DATE 2025
GAAP
Non-GAAP Adjustments1
Non-GAAP2
SEGMENT PROFIT
Tools & Outdoor$910.5 $70.2 $980.7 
Engineered Fastening$133.8 $29.1 $162.9 
CORPORATE OVERHEAD$(209.0)$24.1 $(184.9)
Segment Profit as a Percentage of Net Sales
Tools & Outdoor9.1 %9.8 %
Engineered Fastening9.2 %11.3 %
1
The 2026 Non-GAAP adjustments for the Tools & Outdoor segment relate primarily to footprint actions. The 2025 Non-GAAP adjustments for the business segments relate primarily to separation benefit costs associated with a voluntary retirement program as well as footprint actions and other costs associated with the supply chain transformation. The 2025 Non-GAAP adjustments for Corporate overhead primarily consist of voluntary retirement program costs and transition services costs related to previously divested businesses. See further discussion on page 16.
2The Non-GAAP 2026 and 2025 business segment and corporate overhead information, as reconciled to GAAP above, is considered relevant to aid analysis and understanding of the Company’s results and business trends aside from the material impact of certain gains and charges and ensures appropriate comparability to operating results of prior periods.












15
Exhibit 99.2
STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP EARNINGS TO EBITDA
(Unaudited, Millions of Dollars)
THIRD QUARTERYEAR-TO-DATE
2026202520262025
Net earnings$272.1 $51.4 $683.0 $243.7 
% of Net Sales7.3 %1.4 %5.9 %2.1 %
Interest - net56.9 79.1 192.1 236.5 
Income taxes86.1 (15.8)259.0 (53.8)
Depreciation84.6 92.9 270.8 276.7 
Amortization26.2 37.3 82.4 112.0 
EBITDA1
$525.9 $244.9 $1,487.3 $815.1 
% of Net Sales14.1 %6.5 %12.9 %7.1 %
Non-GAAP adjustments before income taxes89.3 217.6 (51.0)332.1 
Less: Accelerated depreciation included in Non-GAAP adjustments before income taxes6.1 1.5 26.8 6.2 
Adjusted EBITDA1
$609.1 $461.0 $1,409.5 $1,141.0 
% of Net Sales16.3 %12.3 %12.2 %10.0 %

SUMMARY OF NON-GAAP ADJUSTMENTS BEFORE INCOME TAXES
(Unaudited, Millions of Dollars)
THIRD QUARTERYEAR-TO-DATE
2026202520262025
Supply Chain Transformation Costs:
Footprint Rationalization2
$16.5 $4.6 $50.7 $16.6 
Material Productivity & Operational Excellence— 3.9 — 11.9 
Voluntary retirement program3
— — (0.5)11.9 
Other charges0.1 (0.5)0.3 4.3 
   Gross profit$16.6 $8.0 $50.5 $44.7 
Supply Chain Transformation Costs:
Footprint Rationalization2
$1.4 $4.0 $10.3 $15.1 
Complexity Reduction & Operational Excellence4
— 4.4 — 24.9 
Transition services costs related to previously divested businesses1.3 — 3.2 8.4 
Voluntary retirement program3
— — (2.7)33.5 
Other charges0.1 (4.3)2.7 (3.2)
   Selling, general and administrative$2.8 $4.1 $13.5 $78.7 
Income related to providing transition services to previously divested businesses$(1.4)$— $(3.3)$(10.3)
Voluntary retirement program3
— — — 6.2 
Deal-related costs and other5
1.7 4.3 1.3 (8.7)
   Other, net$0.3 $4.3 $(2.0)$(12.8)
Loss (gain) on sales of businesses$20.4 $— $(250.2)$0.3 
Asset impairment charges6
19.7 169.1 47.7 169.1 
Restructuring charges 29.5 32.1 89.5 52.1 
   Non-GAAP adjustments before income taxes$89.3 $217.6 $(51.0)$332.1 
16
Exhibit 99.2
1EBITDA is earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA represents EBITDA excluding certain gains and charges, as summarized above. EBITDA and Adjusted EBITDA, both Non-GAAP measures, are considered relevant to aid analysis and understanding of the Company’s operating results and ensures appropriate comparability to prior periods.
2
Footprint Rationalization costs in 2026 primarily relate to accelerated depreciation of manufacturing equipment driven by plants closed in the second and third quarters of 2026, as well as site transformation and re-configuration costs. Footprint Rationalization costs in 2025 primarily relate to site transformation and re-configuration costs. Facility exit costs related to site closures are reported in Restructuring charges.
3
In June 2025, the Company implemented a voluntary retirement program (“VRP”) to right-size the Company’s corporate and support functions to align with a more focused portfolio following recent divestitures and more streamlined operations as part of the supply chain transformation. The costs associated with the VRP relate to separation benefits provided to eligible employees who voluntarily retired from the Company.
4
Complexity Reduction & Operational Excellence costs in 2025 primarily related to third-party consulting fees to provide expertise in identifying business model changes and quantifying related cost savings opportunities within the Company’s Engineered Fastening business, developing a detailed program and related governance, and assisting the Company with the implementation of actions necessary to achieve the identified objectives.
5Includes an $8.1 million gain on sale of a distribution center in 2025 as part of the supply chain transformation.
6Asset impairment charges in 2026 relate to the write-down of assets associated with the exit of a Tools and Outdoor product line and related plant closure in the first quarter of 2026 and a pre-tax impairment loss in the third quarter of 2026 related to the Excel Industries ("Excel") business. The asset impairment charges in 2025 were primarily related to the Lenox, Troy-Bilt, and Irwin trade names, and the write down of certain minority investments pertaining to legacy corporate ventures.



STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP REVENUE GROWTH TO NON-GAAP ORGANIC GROWTH
(Unaudited)

THIRD QUARTER 2026
GAAP
Revenue
Growth		Less:
Acquisitions		Plus:
Divestitures		Less:
Strategic
Outdoor
Product Line Transition		Less:
Currency
Non-GAAP
Organic
Growth1
Stanley Black & Decker-1 %- %3 %-2 %- %4 %
Tools & Outdoor2 %- %- %-2 %- %4 %
North America3 %- %- %-3 %- %6 %
Europe-1 %- %- %- %-2 %1 %
Rest of World2 %- %- %- %3 %-1 %
Engineered Fastening-21 %- %22 %- %-1 %2 %
1Non-GAAP Organic Growth, as reconciled to GAAP Revenue Growth above, is utilized to describe the change in the Company’s net sales excluding the impacts of foreign currency fluctuations, acquisitions during their initial 12 months of ownership, divestitures, transfers of product lines between segments, and the strategic transition to a licensing model for gas walk-behind outdoor product lines (as previously communicated). Organic growth is also referred to as organic sales growth and organic revenue growth.
17

Source: View Original Filing on SEC EDGAR

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