View All News April 28, 2022 Total Revenue Growth Up 20% Year-Over-Year Driven By Strategic Outdoor Power Equipment Acquisitions And A Sustained Strong Demand Environment Gross Margin* Improved Over 200 Basis Points Sequentially Driven By Strong Price Realization Strategic Divestitures Enable A More Focused Company And $2.3 Billion Return Of Capital To Shareholders NEW BRITAIN, Conn., April 28, 2022 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) today announced first quarter 2022 financial results. The Company's results represent continuing operations and exclude Stanley Access Technologies ("Access Technologies") following the announced divestiture earlier this month, unless specifically noted. This transaction, which is the final piece of the Security business divestiture is subject to regulatory approval and customary closing conditions and is expected to close mid-year. The results of this business were previously included in Corporate and Other, and are now recorded as discontinued operations. "Stanley Black & Decker capitalized on the strong demand environment, our recent strategic acquisitions in the fast-growing outdoor power equipment market and a 5% contribution from pricing to drive 20% quarterly revenue growth as well as higher sequential margins," said Stanley Black & Decker CEO Jim Loree. "We continue to strengthen our number one position in tools and are strategically focusing our portfolio for sustained growth, scale and efficiencies. Our announced Security divestitures enabled $2.3 billion of share repurchases in the first quarter, at a compelling value, which represents substantial progress against our $4 billion share repurchase program." "I want to thank the organization for their agility and efforts as they successfully deliver strong day-to-day operational execution, inventory management and pricing realization in 2022. While inflationary pressures remain a macro headwind, we have demonstrated our ability to offset those pressures. We continue to invest in leading edge product innovation, strategic growth initiatives and capacity expansions to better serve our customers to enable a multi-year runway for growth, margin expansion and long-term shareholder value creation," concluded Loree. 1Q'22 Key Points: Donald Allan Jr., President and CFO, commented, "We made tangible progress on our key priorities in the first quarter, most notably price realization and improved component supply, while we continued managing the global supply chain environment. However, inflationary trends continued during the quarter and we are responding with additional pricing actions to be implemented in the coming weeks. We are adjusting our plan accordingly as well as incorporating the impact of strategic divestitures and the closure of our Russia business into revised guidance. "We continue to be focused on driving above-market organic growth, delivering on our price and cost control measures, successfully integrating MTD and Excel into the portfolio and leveraging the SBD Operating Model to improve our fill rates, working capital performance and other operational metrics." 1Q'22 Segment Results ($inM) Sales Profit Charges 1 Profit Ex - Profit Rate Profi tRate Ex - Tools & Outdoor $3,801 $378.5 $153.7 $532.2 10.0% 14.0% Industrial $647 $41.3 $3.5 $44.8 6.4% 6.9% 1 See Acquisition-Related And Other Charges OnPage 5 * Non-GAAP Financial Measure As Further Defined On Page 7 2022 Outlook For the full year 2022, the Company projects mid-twenties total revenue growth year-over-year. The Company is revising its 2022 EPS outlook to $7.20 - $8.30 on a diluted GAAP basis from $10.10 to $10.70, and on an adjusted basis to $9.50 to $10.50 from $12.00 to $12.50. Free cash flow is expected to be approximately $1.0 to $1.5 billion as the Company focuses on serving its customers while leveraging the SBD Operating Model to drive working capital efficiency. Through the first quarter, $2.3 billion of the planned $4 billion share repurchase was initiated and the Company expects completion of the total program in 2023. Stanley Black & Decker remains focused on disciplined capital allocation which aims to balance share repurchase activity with its commitment to dividends and strong investment grade credit ratings. The following reflects the key assumption changes to the Company's prior EPS outlook: The difference between 2022 GAAP and adjusted EPS guidance is $2.20 to $2.30, consisting of acquisition-related and other charges. These forecasted charges primarily relate to restructuring expenses, a voluntary retirement program, the Russia business closure, integration costs and non-cash inventory step-up charges. Acquisition-Related And Other Charges Total pre-tax acquisition-related and other charges in the first quarter of 2022 totaled $221.4 million, primarily related to non-cash inventory step-up charges, restructuring expense, a voluntary retirement program, integration-related costs and the Russia business closure. Gross profit included $88.8 million of these charges while SG&A included $78.9 million. Other, net and Restructuring included $1.0 million and $52.7 million of these charges, respectively. Conference Call & Webcast The Company will host a conference call with investors today, April 28, 2022, at 8:00 am ET. A slide presentation which will accompany the call will be available at www.stanleyblackanddecker.com and will remain available after the call. The call and an accompanying slide presentation will be available through a live webcast on the "Investors" section of Stanley Black & Decker's website, www.stanleyblackanddecker.com under the subheading "News & Events." The event can also be accessed by telephone within the US at (877) 930-8285, from outside the U.S. at +1 (253) 336-8297. Please use the conference identification number 4429246. A replay will also be available two hours after the call and can be accessed on the "Investors" section of Stanley Black & Decker's website, or at (855) 859-2056 / +1 (404) 537-3406 using the passcode 4429246. The replay will also be available as a podcast within 24 hours and can be accessed on our website and via iTunes. About Stanley Black & Decker Headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is the world's largest tool company operating nearly 50 manufacturing facilities across America and more than 100 worldwide. Guided by its purpose – for those who make the world – the company's more than 60,000 diverse and high-performing employees produce innovative, award-winning power tools, hand tools, storage, digital tool solutions, lifestyle products, outdoor products, engineered fasteners and other industrial equipment to support the world's makers, creators, tradespeople and builders. The company's iconic brands include DEWALT®, BLACK+DECKER®, CRAFTSMAN®, STANLEY®, CUB CADET®, HUSTLER® and TROY-BILT®. Recognized for its leadership in environmental, social and governance (ESG), Stanley Black & Decker strives to be a force for good in support of its communities, employees, customers and other stakeholders. To learn more visit: www.stanleyblackanddecker.com. Investor Contacts: Dennis Lange Cort Kaufman Media Contacts: Shannon Lapierre Debora Raymond Non-GAAP Financial Measures Organic sales growth, or organic growth, 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 and any foreign currency impacts divided by prior year sales. Operating profit is defined as sales less cost of sales and selling, general and administrative expenses. Operating margin is operating profit as a percentage of sales. Operating profit and operating margin are shown both inclusive and exclusive of acquisition-related and other charges. Management uses operating profit and operating margin as key measures to assess the performance of the Company as a whole, as well as the related measures at the segment level. Diluted EPS, excluding charges, or adjusted EPS, is diluted GAAP EPS excluding the impacts of acquisition-related and other 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 and preferred stock and business acquisitions, among other items. Free cash flow conversion is defined as free cash flow divided by net income. The Non-GAAP statement of operations and business segment information is reconciled to GAAP on pages 13 and 14. 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 acquisition-related and other charges and ensures appropriate comparability to operating results of prior periods. CAUTIONARY 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 any projections or guidance of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new products, services or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include, among others, the words "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate" 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; (ii) macroeconomic factors, including global and regional business conditions (such as Brexit), commodity prices, inflation and deflation, and currency exchange rates; (iii) laws, regulations and governmental policies affecting the Company's activities in the countries where it does business, including those related to tariffs, taxation, data privacy, anti-bribery, anti-corruption, government contracts and trade controls such as section 301 tariffs and section 232 steel and aluminum tariffs; (iv) the economic, political, cultural and legal environment of emerging markets, particularly Latin America, Russia, China and Turkey; (v) realizing the anticipated benefits of mergers, acquisitions, joint ventures, strategic alliances or divestitures; (vi) pricing pressure and other changes within competitive markets; (vii) availability and price of raw materials, component parts, freight, energy, labor and sourced finished goods; (viii) the impact the tightened credit markets and change to LIBOR and other benchmark rates may have on the Company or its customers or suppliers; (ix) the extent to which the Company has to write off accounts receivable or assets or experiences supply chain disruptions in connection with bankruptcy filings by customers or suppliers; (x) the Company's ability to identify and effectively execute productivity improvements and cost reductions; (xi) potential business and distribution disruptions, including those related to physical security threats, information technology or cyber-attacks, epidemics, pandemics, sanctions, political unrest, war, terrorism or natural disasters; (xii) the continued consolidation of customers, particularly in consumer channels and the Company's continued reliance on significant customers; (xiii) managing franchisee relationships; (xiv) the impact of poor weather conditions and climate change; (xv) maintaining or improving production rates in the Company's manufacturing facilities, responding to significant changes in customer preferences, product demand and fulfilling demand for new and existing products, and learning, adapting and integrating new technologies into products, services and processes; (xvi) changes in the competitive landscape in the Company's markets; (xvii) the Company's non-U.S. operations, including sales to non-U.S. customers; (xviii) the impact from demand changes within world-wide markets associated with homebuilding and remodeling; (xix) potential adverse developments in new or pending litigation and/or government investigations; (xx) the incurrence of debt and changes in the Company's ability to obtain debt on commercially reasonable terms and at competitive rates; (xxi) substantial pension and other postretirement benefit obligations; (xxii) potential regulatory liabilities, including environmental, privacy, data breach, workers compensation and product liabilities; (xxiii) attracting and retaining key employees, managing a workforce in many jurisdictions,work stoppages or other labor disruptions; (xxiv) the Company's ability to keep abreast with the pace of technological change; (xxv) changes in accounting estimates; (xxvi) the Company's ability to protect its intellectual property rights and associated reputational impacts; (xxvii) the continued adverse effects of the COVID-19 pandemic and an indeterminate recovery period; (xxviii) the possibility that the Company does not achieve the intended financial benefits from the acquisition of MTD and Excel; (xxix) the failure to consummate, or a delay in the consummation of, the Security or Access Technology sale transactions for various reasons (including but not limited to failure to receive, or delay in receiving, required regulatory approvals and meet customary closing conditions); (xxx) the failure to undertake or complete, or a delay in the timing of, the share repurchase program; and (xxxi) failure to realize the expected benefits of the Company's capital allocation strategy and share repurchase program. Additional factors that could cause actual results to differ materially from forward-looking statements are set forth in the Annual Report on Form 10-K and in the Quarterly Report on Form 10-Q, including under the heading "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in the Consolidated Financial Statements and the related Notes. Forward-looking statements in this press release speak only as of the date hereof, and forward-looking statements in documents attached that are incorporated by reference speak only as of the date of those documents. The Company does not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circ*mstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, Millions of Dollars Except Per Share Amounts) FIRST QUARTER 2022 2021 NET SALES $ 4,448.0 $ 3,720.8 COSTS AND EXPENSES Cost of sales 3,142.6 2,333.0 Gross profit 1,305.4 1,387.8 % of Net Sales 29.3% 37.3% Selling, general and administrative 960.3 719.1 % of Net Sales 21.6% 19.3% Operating profit 345.1 668.7 % of Net Sales 7.8% 18.0% Other - net 62.0 48.0 Loss on sale of business - 1.0 Restructuring charges 52.7 1.8 Income from operations 230.4 617.9 Interest - net 51.9 44.6 EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY INTEREST 178.5 573.3 Income taxes on continuing operations 22.9 115.5 NET EARNINGS FROM CONTINUING OPERATIONS BEFORE EQUITY INTEREST 155.6 457.8 Share of net earnings of equity method investment - 1.8 NET EARNINGS FROM CONTINUING OPERATIONS 155.6 459.6 Less: Net earnings (losses) attributable to non-controlling interests 0.1 (0.6) NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO STANLEY BLACK & DECKER, INC. $ 155.5 $ 460.2 Less: Preferred stock dividends and beneficial conversion feature - 9.4 NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO COMMON SHAREOWNERS $ 155.5 $ 450.8 Add: Contract adjustment payments accretion 0.3 0.2 NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO COMMON SHAREOWNERS - DILUTED $ 155.8 $ 451.0 Earnings from discontinued operations before income taxes 22.2 31.1 Income taxes on discontinued operations 2.4 3.9 NET EARNINGS FROM DISCONTINUED OPERATIONS $ 19.8 $ 27.2 NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS - DILUTED $ 175.6 $ 478.2 NET EARNINGS ATTRIBUTABLE TO STANLEY BLACK & DECKER, INC. $ 175.3 $ 487.4 BASIC EARNINGS PER SHARE OF COMMON STOCK Continuing operations $ 1.00 $ 2.86 Discontinued operations $ 0.13 $ 0.17 Total basic earnings per share of common stock $ 1.13 $ 3.04 DILUTED EARNINGS PER SHARE OF COMMON STOCK Continuing operations $ 0.94 $ 2.74 Discontinued operations $ 0.12 $ 0.17 Total diluted earnings per share of common stock $ 1.06 $ 2.91 DIVIDENDS PER SHARE OF COMMON STOCK $ 0.79 $ 0.70 WEIGHTED-AVERAGE SHARES OUTSTANDING (in thousands) Basic 155,433 157,490 Diluted 165,413 164,349 STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, Millions of Dollars) April 2, January 1, 2022 2022 ASSETS Cash and cash equivalents $ 165.8 $ 142.1 Accounts and notes receivable, net 1,842.0 1,481.7 Inventories, net 6,267.7 5,419.9 Current assets held for sale 864.0 869.6 Other current assets 596.7 613.1 Total current assets 9,736.2 8,526.4 Property, plant and equipment, net 2,365.6 2,336.8 Goodwill and other intangibles, net 13,237.3 13,285.7 Long-term assets held for sale 2,628.5 2,635.8 Other assets 1,391.1 1,395.3 Total assets $ 29,358.7 $ 28,180.0 LIABILITIES AND SHAREOWNERS' EQUITY Short-term borrowings $ 5,086.4 $ 2,241.1 Current maturities of long-term debt 1.2 1.3 Accounts payable 3,367.7 3,423.6 Accrued expenses 2,036.2 2,641.0 Current liabilities held for sale 463.5 460.4 Total current liabilities 10,955.0 8,767.4 Long-term debt 5,355.5 4,353.6 Long-term liabilities held for sale 129.1 137.4 Other long-term liabilities 3,564.3 3,329.2 Stanley Black & Decker, Inc. shareowners' equity 9,352.8 11,590.5 Non-controlling interests' equity 2.0 1.9 Total liabilities and shareowners' equity $ 29,358.7 $ 28,180.0 STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES SUMMARY OF CASH FLOW ACTIVITY (Unaudited, Millions of Dollars) FIRST QUARTER 2022 2021 OPERATING ACTIVITIES Net earnings from continuing operations $ 155.6 $ 459.6 Net earnings from discontinued operations 19.8 27.2 Depreciation and amortization 143.7 144.0 Loss on sale of business - 1.0 Share of net earnings of equity method investment - (1.8) Changes in working capital1 (1,336.1) (720.4) Other (224.1) (67.4) Net cash used in operating activities (1,241.1) (157.8) INVESTING AND FINANCING ACTIVITIES Capital and software expenditures (139.8) (88.3) Proceeds from sales of assets 9.0 1.3 Business acquisitions, net of cash acquired (36.5) (0.2) Net investment hedge settlements 4.7 (52.6) Proceeds from debt issuances, net of fees 994.8 - Stock purchase contract fees (9.8) (9.8) Net short-term borrowings (repayments) 2,844.8 (0.7) Proceeds from issuances of common stock 13.7 64.1 Purchases of common stock for treasury (2,313.0) (14.9) Craftsman contingent consideration (9.8) (7.0) Termination of interest rate swaps 22.7 - Cash dividends on common stock (116.3) (110.1) Cash dividends on preferred stock - (9.4) Effect of exchange rate changes on cash 4.8 (38.9) Other (2.5) (15.3) Net cash provided by (used in) investing and financing activities 1,266.8 (281.8) Increase (decrease) in cash, cash equivalents and restricted cash 25.7 (439.6) Cash, cash equivalents and restricted cash, beginning of period 294.8 1,398.3 Cash, cash equivalents and restricted cash, end of period $ 320.5 $ 958.7 Free Cash Flow Computation2 Net cash used in operating activities $ (1,241.1) $ (157.8) Less: capital and software expenditures (139.8) (88.3) Free cash flow (before dividends) $ (1,380.9) $ (246.1) Reconciliation of Cash, Cash Equivalents and Restricted Cash April 2, 2022 January 1, 2022 Cash and cash equivalents $ 165.8 $ 142.1 Restricted cash included in Other current assets 3.9 7.6 Cash and cash equivalents included in Current assets held for sale 150.8 145.1 Cash, cash equivalents and restricted cash $ 320.5 $ 294.8 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. STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES BUSINESS SEGMENT INFORMATION (Unaudited, Millions of Dollars) FIRST QUARTER 2022 2021 NET SALES Tools & Outdoor $ 3,801.2 $ 3,062.9 Industrial 646.6 657.7 Segment Net Sales 4,447.8 3,720.6 Other 0.2 0.2 Total $ 4,448.0 $ 3,720.8 SEGMENT PROFIT Tools & Outdoor $ 378.5 $ 644.7 Industrial 41.3 99.8 Segment Profit 419.8 744.5 Corporate Overhead (74.7) (75.8) Total $ 345.1 $ 668.7 Segment Profit as a Percentage of Net Sales Tools & Outdoor 10.0% 21.0% Industrial 6.4% 15.2% Segment Profit 9.4% 20.0% 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) FIRST QUARTER 2022 GAAP Acquisition- Non-GAAP3 Gross profit $ 1,305.4 $ 88.8 $ 1,394.2 % of Net Sales 29.3% 31.3% Selling, general and administrative 960.3 (78.9) 881.4 % of Net Sales 21.6% 19.8% Operating profit 345.1 167.7 512.8 % of Net Sales 7.8% 11.5% Earnings from continuing operations before income taxes and equity interest 178.5 221.4 399.9 Income taxes on continuing operations 22.9 29.8 52.7 Net earnings from continuing operations attributable to common shareowners - Diluted 155.8 191.6 347.4 Diluted earnings per share of common stock - Continuing operations $ 0.94 $ 1.16 $ 2.10 1 Acquisition-related charges and other relate primarily to non-cash inventory step-up charges, restructuring, a voluntary retirement program, integration-related FIRST QUARTER 2021 GAAP Acquisition- Non-GAAP3 Gross profit $ 1,387.8 $ 4.4 $ 1,392.2 % of Net Sales 37.3% 37.4% Selling, general and administrative 719.1 (15.0) 704.1 % of Net Sales 19.3% 18.9% Operating profit 668.7 19.4 688.1 % of Net Sales 18.0% 18.5% Earnings from continuing operations before income taxes and equity interest 573.3 23.8 597.1 Income taxes on continuing operations 115.5 6.0 121.5 Share of net earnings of equity method investment 1.8 0.2 2.0 Net earnings from continuing operations attributable to common shareowners - Diluted 451.0 18.0 469.0 Diluted earnings per share of common stock - Continuing operations $ 2.74 $ 0.11 $ 2.85 2 Acquisition-related charges and other relate primarily to functional transformation initiatives and facility-related costs. 3 The non-GAAP 2022 and 2021 information, as reconciled to GAAP above, is considered relevant to aid analysis and understanding of the Company's results, STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP SEGMENT PROFIT FINANCIAL MEASURES TO CORRESPONDING NON-GAAP FINANCIAL MEASURES (Unaudited, Millions of Dollars) FIRST QUARTER 2022 GAAP Acquisition- Non-GAAP 3 SEGMENT PROFIT Tools & Outdoor $ 378.5 $ 153.7 $ 532.2 Industrial 41.3 3.5 44.8 Segment Profit 419.8 157.2 577.0 Corporate Overhead (74.7) 10.5 (64.2) Total $ 345.1 $ 167.7 $ 512.8 Segment Profit as a Percentage of Net Sales Tools & Outdoor 10.0% 14.0% Industrial 6.4% 6.9% Segment Profit 9.4% 13.0% 1 Acquisition-related charges and other relate primarily to non-cash inventory step-up charges, a voluntary retirement program, FIRST QUARTER 2021 GAAP Acquisition- Non-GAAP 3 SEGMENT PROFIT Tools & Outdoor $ 644.7 $ 4.2 $ 648.9 Industrial 99.8 3.6 103.4 Segment Profit 744.5 7.8 752.3 Corporate Overhead (75.8) 11.6 (64.2) Total $ 668.7 $ 19.4 $ 688.1 Segment Profit as a Percentage of Net Sales Tools & Outdoor 21.0% 21.2% Industrial 15.2% 15.7% Segment Profit 20.0% 20.2% 2 Acquisition-related charges and other relate primarily to functional transformation initiatives and facility-related costs. 3 The non-GAAP 2022 and 2021 business segment information, as reconciled to GAAP above, is considered relevant to aid SOURCE Stanley Black & Decker View All News Stanley Black & Decker Reports 1Q 2022 Results
Charges *
Charges *
Vice President, Investor Relations
dennis.lange@sbdinc.com
(860) 827-3833
Senior Director, Investor Relations
cort.kaufman@sbdinc.com
(860) 515-2741
Chief Communications Officer
shannon.lapierre@sbdinc.com
(860) 259-7669
Vice President, Public Relations
debora.raymond@sbdinc.com
(203) 640-8054
Under the Private Securities Litigation Reform Act of 1995
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 and preferred stock and
business acquisitions, among other items.
Related Charges
& Other1
costs and the Russia business closure.
Related Charges
& Other2
business trends and outlook measures aside from the material impact of acquisition-related and other charges and ensures appropriate comparability to operating
results of prior periods.
Related Charges
and Other1
integration-related costs and the Russia business closure.
Related Charges
and Other2
analysis and understanding of the Company's results, business trends and outlook measures aside from the material impact of
acquisition-related and other charges and ensures appropriate comparability to operating results of prior periods.
View original content to download multimedia:https://www.prnewswire.com/news-releases/stanley-black--decker-reports-1q-2022-results-301534883.html
FAQs
What are the results of Stanley Black and Decker q1 2024? ›
On May 2, 2024, Stanley Black & Decker Inc (NYSE:SWK) released its 8-K filing, disclosing its financial outcomes for the first quarter of 2024. The company, a leading manufacturer of tools and outdoor equipment, reported first-quarter revenues of $3.9 billion, a slight decrease of 2% compared to the previous year.
Why is Stanley Black & Decker stock dropping? ›Stanley Black & Decker's (NYSE:SWK) stock on Thursday fell as much as 9.5% to hit a six-month low after the maker of tools reported a decline in sales and maintained wide estimates for profitability.
What was Stanley Black and Decker q4 results? ›Net loss from continuing operations was (7.4%) of sales, down 490 basis points versus prior year. Fourth quarter EBITDA* was 4.2% of sales. Fourth quarter adjusted EBITDA* was 9.4% of sales, up 620 basis points versus prior year.
Why invest in Stanley Black and Decker? ›There is a case for buying Stanley Black & Decker stock, as management is cutting costs, and a lower interest rate environment will help its sales grow. However, there's also potential for some near-term bad news as long as its inventory remains relatively high.
Is Stanley Black Decker laying off employees? ›Stanley Black & Decker, Inc. has filed an official WARN Notice with the Tennessee Department of Labor and Workforce Development, notifying the agency of a permanent layoff beginning August 5, 2024, with all separations to be completed April 14, 2025. The company is located at 90 Passmore Ln. Jackson, TN 38305.
Is Stanley Black and Decker undervalued? ›The intrinsic value of one SWK stock under the Base Case scenario is 133.63 USD. Compared to the current market price of 96.26 USD, Stanley Black & Decker Inc is Undervalued by 28%.
Did Stanley Black and Decker stock split? ›The most recent stock split occurred on June 4th, 1996.
Has Stanley sales gone down? ›The Bottom Line: Stanley Black & Decker sales fell 2% to $3.87 billion for Q1 2024. What the CEO said: “We continue to see significant value creation opportunities tied to our strategic business transformation, and we remain focused on disciplined execution of our strategy.
Who did Stanley Black and Decker buy? ›1, 2021 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) today announced that it has successfully completed the acquisition of two leading companies in the growing outdoor power equipment industry, including purchasing the remaining 80 percent ownership stake in MTD Holdings Inc ("MTD") and the acquisition of Excel ...
Is Black and Decker a buy or sell? ›Stanley Black & Decker has a consensus rating of Hold which is based on 0 buy ratings, 5 hold ratings and 0 sell ratings. The average price target for Stanley Black & Decker is $87.00. This is based on 5 Wall Streets Analysts 12-month price targets, issued in the past 3 months.
How often does Stanley Black and Decker pay dividends? ›
Stanley Black & Decker, Inc. ( SWK ) pays dividends on a quarterly basis.
What country owns Stanley Black & Decker? ›Headquartered in the USA, Stanley Black & Decker provides the tools and innovative solutions you can trust to get the job done – and we have since 1843.
How much money has Stanley made in 2024? ›Stanley Black & Decker revenue for the twelve months ending March 31, 2024 was $15.719B, a 4.34% decline year-over-year. Stanley Black & Decker annual revenue for 2023 was $15.781B, a 6.88% decline from 2022. Stanley Black & Decker annual revenue for 2022 was $16.947B, a 10.9% increase from 2021.
How much have Stanley's sales increased? ›Stanley's Adventure Quencher sells out every time a new collection launches on the site, and the brand has gone to $750 million in sales in 2023 from $70 million in sales in 2019 mainly due to Quencher bottle sales.
What is Stanley Black and Decker stock target? ›High | $135.00 |
---|---|
Median | $98.00 |
Low | $88.00 |
Average | $103.42 |
Current Price | $94.76 |