Pache.co Information Technologies

Vacuum, Cordless/Corded, Power Requirements: 18V – 20V Battery Packs, Will Also Run on 120VAC, Tank Size: 2 Gallon, Hose Diameter: 1-1/4″, Hose Length: 5 ft, Voltage: 18V – 20V, Weight: 9.15 lbs, Includes: Filter, Crevice Tool, Wide Nozzle & Vacuum.

NEW BRITAIN, Conn. — Stanley Black & Decker announced Tuesday that Jaime Ramirez, executive vice president and president, Tools & Storage, will be stepping down from his role to pursue opportunities outside of the company effective July 22.

Robert Raff, a 20-year Stanley Black & Decker veteran and currently head of Stanley Outdoor Integration, will be appointed acting executive vice president and president, Tools. Raff will work closely with Donald Allan, president and CEO of Stanley Black & Decker, to help drive execution of the company’s strategy, focused on the growth of its core businesses.

“Stanley Black & Decker maintains a strong bench of leaders and we are fortunate that Robert will step in to lead Tools as we continue to drive our business forward,” Allan said. “Robert is a long-time veteran executive of the company who has served in various roles, including leading our security business transformation and 14 years as a leader in Tools. He knows the business, the team and our customers well, and we are confident in his ability to drive progress in executing our strategy of focusing on our core businesses, including enhanced investments in Tools, to continue to grow our leading franchises.

“Jaime has had a distinguished career with Stanley Black & Decker for more than 30 years. We wish Jaime the best and are grateful for his many contributions throughout his tenure.”

Raff currently serves as head of Stanley Outdoor Integration, a role he has held since Aug. 2021. Over the past 20 years, Raff has served in various leadership roles across Stanley Black & Decker including president, Stanley Security; president, Convergent Security Solutions; president, North America Commercial Global Tools & Storage; president, Hardware, and other roles.

The company has retained Heidrick & Struggles to conduct an internal and external search for a permanent successor to Ramirez.

Click Buy Now for Updated Price. Estimated Price: 55.12$

The BLACK+DECKER 6.0 Amp electric orbit jig saw is equipped with everything you need to get right down to business without sacrificing precision and workmanship. Whether you’re making straight or curved cuts on wood, metal, or plastic, you’ll always be able to choose the best orbital setting for the job thanks to SMART SELECT technology. Simply set the dial to the right task to automatically adjust to the appropriate orbital setting. A variable-speed trigger powers up to 3,000 spm, while the quick-clamp system means blade changes can be done fast without tools. The LINEFINDER feature, which illuminates your cut line, provides an added layer of accuracy as you work. And beveled cuts up to 45° are easy to achieve with the Accu-Bevel adjustment mechanism. Use the on-board blade storage to keep extra blades right where you need them. Plus, this jig saw runs on electricity, so you won’t run out of power mid cut. is equipped with everything you need to get right down to business without sacrificing precision and workmanship. Whether you’re making straight or curved cuts on wood, metal, or plastic, you’ll always be able to choose the best orbital setting for the job thanks to SMART SELECT technology. Simply set the dial to the right task to automatically adjust to the appropriate orbital setting. A variable-speed trigger powers up to 3,000 spm, while the quick-clamp system means blade changes can be done fast without tools. The LINEFINDER feature, which illuminates your cut line, provides an added layer of accuracy as you work. And beveled cuts up to 45° are easy to achieve with the Accu-Bevel adjustment mechanism. Use the on-board blade storage to keep extra blades right where you need them. Plus, this jig saw runs on electricity, so you won’t run out of power mid cut.
VERSATILE APPLICATION – Electric jig saw makes straight and curved cuts on wood, metal, and plastic.
LINEFINDER – Illuminates your cut line for enhanced visibility and precision.
SMART SELECT TECHNOLOGY – Turn the dial to the correct task to automatically select the optimal orbital setting.
ACCU-BEVEL ANGLE ADJUSTMENT – Quick-action lever and indicator window allow you to accurately set the base plate for beveled cuts up to 45 degrees.
VARIABLE-SPEED TRIGGER – Generates up to 3,000 spm of cutting power.
TOOL-FREE BLADE CHANGING – Quickly swap out the blade without extra tools.
ON-BOARD BLADE STORAGE – Keep loose blades ready for use.

Lowe’s has DeWalt 20V MAX 1/4″ Brushless Cordless Impact Driver Kit w/ 2x 1.5-Ah Batteries & Charger (DCF840C2) on sale for $99 (price shown in cart). Select free store pickup where avail …

Are you tired of leaves all over your yard? Well, the BLACK+DECKER blower/vacuum/mulcher is perfect for helping to clean that up. It’s able to handle just about anything you set in front of it, this yard tool is able to blow things around, vacuum them up into a bag, or mulch them to save space depending on what you need. It’s on sale for $67 which is down from its normal going rate of $79, marking one of the best prices we’ve seen in well over a year. We also have a wide selection of Tesla, Greenworks, and other e-bike discounts in today’s New Green Deals, so you won’t want to miss that either.

Head below for other New Green Deals that we’ve found today and of course Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

BLACK+DECKER leaf blower and vacuum cleans your yard with ease

Amazon is offering the BLACK+DECKER Leaf Blower and Vacuum for $67.09 shipped. Down from $79, today’s deal marks one of the best prices that we’ve seen in over a year. Designed to help you with yard cleanup, this versatile tool can either blow, vacuum, or mulch to keep the lawn neat and tidy. Should you opt for vacuum or mulch, the included leaf bag system makes disposing easy and the mulching option cuts 16 bags of leaves down to just one. Of course, being corded electric it won’t require any gas or oil to function, making this an economical solution as well. Just be sure to have an extension cord on hand to use this tool though, as you’ll have to keep it plugged in to function as it’s not battery-powered.

Sun Joe Amazon summer sale discounts electric pressure washers, mowers, more from $38

Amazon is now discounting an assortment of Sun Joe electric outdoor tools headlined by its SPX3000-MAX 2800 MAX PSI Pressure Washer at $185.87 shipped. Normally fetching $250, today’s offer is delivering a new 2022 low as well as the best price in well over a month at $64 off. A notable tool for having in your arsenal, Sun Joe’s higher-end pressure washer lets you replace an existing gas-powered unit or just finally bring home one of the patio cleaning machines. This model will make quick work of grime or dirt buildup with a 14.5A motor that can dish out 2,800 PSI water pressures. There are five different spray tips included in the box to go alongside a 34-inch extension wand, 35-foot power cord, and more. Head to 9to5Toys for additional Sun Joe deals from $38.

Juiced HyperScrambler 2 e-bike with 100-mile range now $300 off at $2,699

Juiced Bikes is offering a deal on its . Down $300 from its normal going rate of $2,999, today’s deal beats our last mention from November by an additional $100 to mark one of the best prices that we’ve tracked all-time. Normally, e-bikes max out at around 20 MPH top speeds and generally 20-50 miles of range. Well, the HyperScrambler takes that to the next level with a top speed of 30 MPH and an impressive range of up to 100 miles per charge. That’s thanks to the two 52V/19.2Ah batteries, which deliver nearly 2,000Wh of total capacity. On top of that, there’s integrated turn signals, a brake light, headlight, and even a 1A USB-A port to recharge your phone wile riding. Learn more about this e-bike in our hands-on review where we take a deeper dive into what it has to offer.

New Tesla deals

After checking out the BLACK+DECKER blower and vacuum combo above, if you keep read, you’ll find a selection of new green deals that will make your Tesla experience better in multiple areas. From storage to keep recordings on to phone mounts, car chargers, and anything else we can find, it’ll be listed below. Each day we’ll do our best to find new and exciting deals and ways for you to save on fun accessories for your Tesla, making each trip unique. For more gift ideas and deals, check out the best Tesla shop. Keep reading on for e-bike, Greenworks, and other great deals.

New e-bike deals + electric scooter discounts

If you’re looking to get out and enjoy the sunshine still after using your new electric mower, than we recommend you experience it than on another e-bike or electric scooter you just got at a fantastic price through one of our deals and sale below. You can use it for fun, exercise, or even transportation to and from work or the coffee shop. We have several people here that will regularly commute to coffee shops or offices on their e-bike, as it cuts down on fossil fuel usage as well as allows them to enjoy some time outdoors on nice sunny days. Below, you’ll find a wide selection of new e-bike deals and electric scooter deal in all price ranges, so give it a look if that’s something you’d be interested in picking up. As always, the newest e-bike deal and electric scooter discounts and sales will be at the top, so shop quick as the discounts are bound to go away soon.

Additional New Green Deals – smart thermostats, more

After shopping the BLACK+DECKER blower and vacuum combo deal above, be sure to check out the other discounts we found today. These new green deals are wide-ranging from outdoor lawn equipment to anything else we find that could save you money in various ways, be that cutting gas and oil out of your life or just enjoying other amenities that energy-saving gear can bring. As always, the newest deals will be at the top, so shop quick as the discounts are bound to go away soon.

FTC: We use income earning auto affiliate links. More.

There is no exact definition for blue chip stocks. We define it as a stock with at least 10 consecutive years of dividend increases. We believe an established track record of annual dividend increases going back at least a decade, shows a company’s ability to generate steady growth and raise its dividend, even in a recession.

As a result, we feel that blue chip stocks are among the safest dividend stocks that investors can buy.

This installment of the 2022 Blue Chip Stocks in Focus series will analyze the tools and accessories company Stanley Black & Decker (SWK) in greater detail.

Business Overview

Stanley Black & Decker is a global leader in power tools, hand tools, and related products. The company maintains the top position in tools and storage sales worldwide.

Stanley Black & Decker has the number two position in commercial electronic security and engineered fastening. The current company was created when Stanley Works and Black & Decker merged in 2010.

Stanley Black & Decker generated revenue of $15.6 billion in 2021. The company consists of three segments: Tools & Storage, Industrial, and Security.

On July 22^nd, 2022, Stanley Black & Decker completed its sale of the Security Business to Securitas AB for $3.2 billion in cash. The cash was earmarked for debt reduction and the $2.3 billion share repurchase previously completed.

Stanley Black & Decker announced first quarter results on April 28^th, 2022. Revenue grew 20% to $4.4 billion but was $220 million lower than expected. Adjusted earnings-per-share of $2.10 compared unfavorably to adjusted earnings-per-share of $3.13 in the prior year but came in $0.40 above expectations.

Organic growth was down 1% in the first quarter. Sales for Tools & Storage, the largest segment, fell 1% as a result of a decline in volume. Industrial organic growth was flat. And Infrastructure grew 4% due to strength in attachment tools. Finally, Engineered Fastening was down 1% due to a decline in automotive.

Stanley Black & Decker offered revised guidance for 2022. The company now expects adjusted earnings-per-share in a range of $9.50 to $10.50, down from $12.00 to $12.50 previously.

Growth Prospects

Stanley Black & Decker is targeting 10% to 12% total revenue growth over the long-term, with 4% to 6% revenue growth being organic. The company is also aiming to grow earnings per share by 10% to 12% over the long-term.

For the time being, we expect the company to continue to grow earnings-per-share at a rate of 8% annually due to organic revenue growth and acquisitions. This is more in-line with the three-year compound annual adjusted EPS growth rate of 9%.

Concerning acquisitions, Stanley Black & Decker lists their areas of interest to be in tool industry consolidation, outdoor expansion, and industrial segment expansion.

The company’s past acquisitions were strategic and benefited the company. For example, Stanley Black & Decker added Newell Brands’ Tools business for nearly $2 billion in 2017. This purchase added the high-quality and well-known Irwin and Lenox brand tools to the company’s product portfolio. In 2017, the company also purchased the Craftsman brand from Sears Holdings for $900 million.

In August 2021, Stanley Black & Decker purchased the remaining 80% of MTD Products, a manufacturer of outdoor power equipment, that it did not already own. The purchase increased the company’s exposure to the outdoor power equipment space, adding the Troy-Bilt, Remington and MTD Genuine Parts brands to Stanley Black & Decker’s product portfolio.

We expect Stanley Black & Decker will grow earnings-per-share at a rate of 8% annually in the intermediate term.

Competitive Advantages & Recession Performance

Stanley Black & Decker’s primary competitive advantage is its well-known brand portfolio which has an immense worldwide reach. The company is a leader in its industries and its strong brands afford it pricing power.

This brand strength stems largely from the company’s heavy investment on research and development. Stanley Black & Decker must continuously innovate and create new products.

The company’s earnings declined significantly in the great financial crisis, demonstrating that Stanley Black & Decker is not immune to recessions. In fact, the company does not appear to have strong recession resilience.

Stanley Black & Decker’s earnings-per-share during the Great Recession and just after are below:

Adjusted EPS decreased more than 30% from 2007 to 2009. However, adjusted EPS recovered strongly in 2010 and 2011 and continued increasing since.

Amid the coronavirus pandemic, however, Stanley Black & Decker performed well, which is likely due to the nature of the crisis. As people stayed home, the home improvement market boomed, which the company benefited from.

Valuation & Expected Returns

Shares of Stanley Black & Decker have traded for an average price-to-earnings multiple of around 17.0. Shares are now trading far below this average, which indicates that shares could be undervalued at the current 11.6 times earnings.

Our fair value estimate for Stanley Black & Decker stock is 16.5 times earnings. If this proves correct, the stock will benefit from a 7.4% annualized gain in its returns through 2027.

Shares of Stanley Black & Decker currently yield 2.8%, which is above its average yield of 2.0%. On a dividend yield basis, SWK shares seem to be trading below fair value.

Putting it all together, the combination of valuation changes, EPS growth, and dividends produces total expected returns of 17.8% per year over the next five years. This makes Stanley Black & Decker a buy.

The current dividend payout is adequately covered by earnings, with room to grow. Based on expected fiscal 2022 earnings, SWK has a payout ratio of 32%. We anticipate continued mid-to-high single-digit dividend increases in the years to come.

Final Thoughts

Stanley Black & Decker is a dividend king with fifty-four years of consecutive dividend growth. The company also holds a top position in its industry. Its expanding product portfolio as a result of both innovation and acquisitions affords the company pricing power.

With strong total return expectations of 17.8% per year over the next five years, Stanley Black & Decker stock is a buy for long-term dividend growth investors.

More By This Author:

Jaime Ramirez Stepping Down as Executive Vice President and President, Tools & Storage

Robert Raff, 20-Year Company Veteran to Lead Tools as Acting Executive Vice President and President, Tools

NEW BRITAIN, Conn., July 12, 2022 /PRNewswire/ — Stanley Black & Decker (NYSE: SWK) today announced that Jaime Ramirez, Executive Vice President and President, Tools & Storage, will be stepping down from his role to pursue opportunities outside of the Company, effective July 22, 2022. Robert Raff, a 20-year Stanley Black & Decker veteran and currently Head of Stanley Outdoor Integration, will be appointed Acting Executive Vice President and President, Tools. Mr. Raff will work closely with Donald Allan, President and CEO of Stanley Black & Decker, to help drive execution of the Company’s strategy focused on the growth of its core businesses.

Mr. Allan said, “Stanley Black & Decker maintains a strong bench of leaders and we are fortunate that Robert will step in to lead Tools as we continue to drive our business forward. Robert is a long-time veteran executive of the Company who has served in various roles, including leading our Security business transformation and 14 years as a leader in Tools. He knows the business, the team and our customers well, and we are confident in his ability to drive progress in executing our strategy of focusing on our core businesses, including enhanced investments in Tools, to continue to grow our leading franchises.”

Mr. Allan added, “Jaime has had a distinguished career with Stanley Black & Decker for more than 30 years. We wish Jaime the best and are grateful for his many contributions throughout his tenure.”

Robert Raff currently serves as Head of Stanley Outdoor Integration, a role he has held since August 2021. Over the past 20 years, Mr. Raff has served in various leadership roles across Stanley Black & Decker including President, Stanley Security; President, Convergent Security Solutions; President, North America Commercial Global Tools & Storage; President, Hardware and other roles.

The Company has retained Heidrick & Struggles to conduct an internal and external search for a permanent successor to Mr. Ramirez.

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:

Cort Kaufman
Senior Director, Investor Relations
[email protected] 
(860) 515-2741

Media Contact:

SOURCE Stanley Black & Decker

Published on July 26th, 2022 by Quinn Mohammed

There is no exact definition for blue chip stocks. We define it as a stock with at least 10 consecutive years of dividend increases. We believe an established track record of annual dividend increases going back at least a decade, shows a company’s ability to generate steady growth and raise its dividend, even in a recession.

As a result, we feel that blue chip stocks are among the safest dividend stocks that investors can buy.

With all this in mind, we created a list of 350+ blue-chip stocks which you can download by clicking below:

In addition to the Excel spreadsheet above, we will individually review the top 50 blue chip stocks today as ranked using expected total returns from the Sure Analysis Research Database.

This installment of the 2022 Blue Chip Stocks in Focus series will analyze the tools and accessories company Stanley Black & Decker (SWK) in greater detail.

Business Overview

Stanley Black & Decker is a global leader in power tools, hand tools, and related products. The company maintains the top position in tools and storage sales worldwide.

Stanley Black & Decker has the number two position in commercial electronic security and engineered fastening. The current company was created when Stanley Works and Black & Decker merged in 2010.

Stanley Black & Decker generated revenue of $15.6 billion in 2021. The company consists of three segments: Tools & Storage, Industrial, and Security.

On July 22^nd, 2022, Stanley Black & Decker completed its sale of the Security Business to Securitas AB for $3.2 billion in cash. The cash was earmarked for debt reduction and the $2.3 billion share repurchase previously completed.

Stanley Black & Decker announced first quarter results on April 28^th, 2022. Revenue grew 20% to $4.4 billion, but was $220 million lower than expected. Adjusted earnings-per-share of $2.10 compared unfavorably to adjusted earnings-per-share of $3.13 in the prior year but came in $0.40 above expectations.

Organic growth was down 1% in the first quarter. Sales for Tools & Storage, the largest segment, fell 1% as a result of a decline in volume. Industrial organic growth was flat. And Infrastructure grew 4% due to strength in attachment tools. Finally, Engineered Fastening was down 1% due to a decline in automotive.

Stanley Black & Decker offered revised guidance for 2022. The company now expects adjusted earnings-per-share in a range of $9.50 to $10.50, down from $12.00 to $12.50 previously.

Growth Prospects

Stanley Black & Decker is targeting 10% to 12% total revenue growth over the long-term, with 4% to 6% revenue growth being organic. The company is also aiming to grow earnings per share by 10% to 12% over the long-term.

For the time being, we expect the company to continue to grow earnings-per-share at a rate of 8% annually due to organic revenue growth and acquisitions. This is more in-line with the three-year compound annual adjusted EPS growth rate of 9%.

Concerning acquisitions, Stanley Black & Decker lists their areas of interest to be in tool industry consolidation, outdoor expansion, and industrial segment expansion.

The company’s past acquisitions were strategic and benefited the company. For example, Stanley Black & Decker added Newell Brands’ Tools business for nearly $2 billion in 2017. This purchase added the high-quality and well-known Irwin and Lenox brand tools to the company’s product portfolio. In 2017, the company also purchased the Craftsman brand from Sears Holdings for $900 million.

In August 2021, Stanley Black & Decker purchased the remaining 80% of MTD Products, a manufacturer of outdoor power equipment, that it did not already own. The purchase increased the company’s exposure to the outdoor power equipment space, adding the Troy-Bilt, Remington and MTD Genuine Parts brands to Stanley Black & Decker’s product portfolio.

We expect Stanley Black & Decker will grow earnings-per-share at a rate of 8% annually in the intermediate term.

Competitive Advantages & Recession Performance

Stanley Black & Decker’s primary competitive advantage is its well-known brand portfolio which has an immense worldwide reach. The company is a leader in its industries and its strong brands afford it pricing power.

This brand strength stems largely from the company’s heavy investment on research and development. Stanley Black & Decker must continuously innovate and create new products.

The company’s earnings declined significantly in the great financial crisis, demonstrating that Stanley Black & Decker is not immune to recessions. In fact, the company does not appear to have strong recession resilience.

Stanley Black & Decker’s earnings-per-share during the Great Recession and just after are below:

Adjusted EPS decreased more than 30% from 2007 to 2009. However, adjusted EPS recovered strongly in 2010 and 2011 and continued increasing since.

Amid the coronavirus pandemic, however, Stanley Black & Decker performed well, which is likely due to the nature of the crisis. As people stayed home, the home improvement market boomed, which the company benefited from.

Valuation & Expected Returns

Shares of Stanley Black & Decker have traded for an average price-to-earnings multiple of around 17.0. Shares are now trading far below this average, which indicates that shares could be undervalued at the current 11.6 times earnings.

Our fair value estimate for Stanley Black & Decker stock is 16.5 times earnings. If this proves correct, the stock will benefit from a 7.4% annualized gain in its returns through 2027.

Shares of Stanley Black & Decker currently yield 2.8%, which is above its average yield of 2.0%. On a dividend yield basis, SWK shares seem to be trading below fair value.

Putting it all together, the combination of valuation changes, EPS growth, and dividends produces total expected returns of 17.8% per year over the next five years. This makes Stanley Black & Decker a buy.

The current dividend payout is adequately covered by earnings, with room to grow. Based on expected fiscal 2022 earnings, SWK has a payout ratio of 32%. We anticipate continued mid-to-high single-digit dividend increases in the years to come.

Final Thoughts

Stanley Black & Decker is a dividend king with fifty-four years of consecutive dividend growth. The company also holds a top position in its industry. Its expanding product portfolio as a result of both innovation and acquisitions affords the company pricing power.

With strong total return expectations of 17.8% per year over the next five years, Stanley Black & Decker stock is a buy for long-term dividend growth investors.

The Blue Chips list is not the only way to quickly screen for stocks that regularly pay rising dividends.

Second Quarter Revenues of $4.4 Billion, Up 16% Versus Prior Year, Led By Acquisitions in Outdoor Power Equipment and Price Realization

Completion of Security Divestitures in July Generated $4.1 Billion in Cash Proceeds, Strengthening Balance Sheet and Fueling Capital Allocation Priorities

Implementing Global Cost Reduction Program Expected to Deliver Pre-Tax Savings of $1 Billion By End of 2023 and Grow to Approximately $2 Billion Within 3 years.

NEW BRITAIN, Conn., July 28, 2022 /PRNewswire/ — Stanley Black & Decker (NYSE: SWK) today announced second quarter 2022 financial results.  The Company also detailed a series of activities focused on operational performance enhancements as well as cost reduction initiatives.

Donald Allan, Jr., Stanley Black & Decker’s President & CEO, commented, “While the macroeconomic environment – including inflation, rising interest rates and significantly slower demand in late May and June – drove the majority of the challenges we faced this quarter, these headwinds underscore the need to accelerate our strategic transformation. As the softening of the demand environment  accelerated rapidly during the last portion of the quarter, we began taking immediate corrective cost actions, which we are continuing to implement.  We are now preparing for demand to normalize closer to 2019 levels for the remainder of 2022.

“Our recent portfolio transformation has enabled $2.3 billion of share repurchases in 2022 and has sharpened the Company’s focus on our market leading Tools and Outdoor franchise as well as our strong Industrial products business. I am confident that our strategy positions the Company for strong long-term growth, profitability and shareholder return.

“Against that backdrop, the entire organization is focused on taking the necessary steps to reduce our inventory to generate cash flow, and to resize our cost base through corporate simplification, operational optimization and supply chain transformation.  We are reprioritizing investments across our businesses and shifting resources to where we expect they will have the greatest positive impact for our customers, partners and end users. We believe these actions will ultimately create a more agile organization that can adeptly navigate the dynamic operating environment and improve our responsiveness to customer demands.”

The Company’s results represent continuing operations and exclude the Security divestiture.  Supplementary historical financial information reflecting the Security divestiture recorded in discontinued operations is available on the investor section of the website or can be accessed directly through the following link:  Supplemental Historical Financial Information.

2Q’22 Key Points:

Second Quarter 2022 Segment Results

¹ See Acquisition-Related And Other Charges On Page 6

* Non-GAAP Financial Measure As Further Defined On Page 8

** Excludes acquisition sales of $890.9 million and acquisition operating margin of $66.2 million.

Implementing Global Cost Reduction Program That Is Expected To Deliver $1 Billion Of Cost Savings By End of 2023 And Approximately $2 Billion Within 3 Years

The Company has launched a series of initiatives designed to generate cost savings by resizing the organization and maximizing cash flow, which will reduce inventory while driving long term growth and improved profitability.  These initiatives will optimize the cost base for the current demand environment as well as provide a platform to fund future investments to accelerate growth in the core businesses.  The Company expects these initiatives to generate cost savings of approximately $150 to $200 million in the remainder of 2022, $1 billion by the end of 2023 and grow to approximately $2 billion within 3 years.  In addition, the Company is aggressively reducing inventory to support a working capital reduction of $1.0 to $1.5 billion and strong free cash flow generation in the second half of 2022. 

The Company’s primary areas of strategic focus are:

The Company expects to achieve $1 billion of cost savings by the end of 2023 through the following initiatives:

While the supply chain transformation is expected to generate significant cost savings through 2023, the Company is embarking on a three-year journey to completely reshape its supply chain. By moving closer to our customers, becoming more responsive to demand and enabling an agile innovation approach with shorter cycle times, the Company expects to deliver approximately $1.5 billion of cumulative cost savings to achieve 35%+ adjusted gross margins*. To drive these efficiencies, the plan will focus on:

* Non-GAAP Financial Measure As Further Defined On Page 8

2022 Outlook

Corbin Walburger, Interim CFO, commented, “We are taking measures that adjust our cost base and inventory for a demand environment that returns to 2019 levels, which is the current lower bound of our expectations.  We believe this is a prudent approach, in light of our inventory position being sufficient to serve upside market demand. By prioritizing cash generation in 2022 and taking the necessary cost actions today, we believe we are positioning the Company for strength in 2023 and beyond.” 

The Company is revising its 2022 EPS outlook to $0.80 to $2.05 on a diluted GAAP basis from $7.20 to $8.30, and on a Non-GAAP adjusted basis to $5.00 to $6.00 from $9.50 to $10.50.

Free cash flow is expected to be $0.4 to $1.0 billion in the back half including tax payments of $0.5 to $0.6 billion associated with Security divestitures.  Excluding such payments, cash generation is expected to be $1.0 to $1.5 billion driven by working capital reductions.  The Company is focused on serving its customers by improving power tool supply while reducing inventory in other categories. Stanley Black & Decker remains focused on disciplined capital allocation, and intends to balance share repurchase activity with its commitment to dividends and strong investment grade credit ratings.

Key assumption changes to the Company’s prior EPS outlook at the midpoint include:

The difference between 2022 GAAP and adjusted EPS guidance is $3.95 to $4.20, consisting of acquisition-related and other charges. These forecasted charges primarily relate to restructuring expenses, a voluntary retirement program, the Russia business closure, integration-related costs, non-cash impairment charge for Oil & Gas, and non-cash inventory step-up charges.

* Non-GAAP Financial Measure As Further Defined On Page 8

Acquisition-Related And Other Charges

Total pre-tax acquisition-related and other charges in the second quarter of 2022 were $248.1 million, primarily related to a non-cash asset impairment charge, integration-related costs, non-cash inventory step-up charges, and restructuring expenses. Gross profit included $16.6 million of these charges while SG&A included $32.9 million. Other, net and Restructuring included $10.9 million and $19.5 million of these charges, respectively. In addition, the Company recognized a $168.4 million asset impairment charge related to the Oil & Gas business, as well as a $0.2 million gain on a previously divested business in the second quarter of 2022.

* Non-GAAP Financial Measure As Further Defined On Page 8

Earnings Webcast

The Company will host a webcast with investors today, July 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 webcast 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/investors under the subheading “News & Events.”  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.

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 
Vice President, Investor Relations 
[email protected] 
(860) 827-3833

Cort Kaufman 
Senior Director, Investor Relations 
[email protected] 
(860) 515-2741

Christina Francis 
Director, Investor Relations 
[email protected] 
(860) 438-3470

Media Contacts:

Debora Raymond
Vice President, Public Relations
[email protected] 
(203) 640-8054

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 14 through 17. 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 
Under the Private Securities Litigation Reform Act of 1995

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 including failure to achieve the Company’s plans to design, develop and manufacture battery and electric-powered solutions for professional and residential users; (xxix) the Company’s ability to implement, and achieve the expected benefits ( including cost savings and reduction in working capital) from, its Global Cost Reduction Program including: prioritizing cash flow generation and inventory optimization/reduction; streamlining and simplifying the organization; reducing indirect spend; optimizing organizational spans and layers; shifting resources to prioritize investments in core businesses that impact customers more directly; accelerating the operations and supply chain transformation to better match the needs of customers; leveraging strategic sourcing and contract manufacturing; consolidating facilities with a 30%+ reduction in manufacturing facilities; executing the SBD Operating Model; platforming products; and; continuing to advance innovation, electrification and global market penetration; and (xxx) failure to consummate, or a delay in the consummation of, the Oil & Gas  sale transaction for various reasons.

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 circumstances 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)

(Gain) loss on sales of businesses

EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY INTEREST

NET EARNINGS FROM CONTINUING OPERATIONS BEFORE EQUITY INTEREST

Share of net earnings of equity method investment

NET EARNINGS FROM CONTINUING OPERATIONS 

Less: Net earnings (losses) attributable to non-controlling interests

NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO STANLEY BLACK & DECKER, INC.

Less: Preferred stock dividends and beneficial conversion feature

NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO COMMON SHAREOWNERS

NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO COMMON SHAREOWNERS – DILUTED        

Earnings from discontinued operations before income taxes

NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS – DILUTED

NET EARNINGS ATTRIBUTABLE TO STANLEY BLACK & DECKER, INC.

BASIC EARNINGS PER SHARE OF COMMON STOCK

     Total basic earnings per share of common stock

DILUTED EARNINGS PER SHARE OF COMMON STOCK

     Total diluted earnings per share of common stock

DIVIDENDS PER SHARE OF COMMON STOCK

STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

 (Unaudited, Millions of Dollars)

Long-term assets held for sale

Current maturities of long-term debt

Long-term liabilities held for sale

Stanley Black & Decker, Inc. shareowners’ equity

           Total liabilities and shareowners’ equity

$                29,361.4

  STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

 (Unaudited, Millions of Dollars)

(Gain) loss on sales of businesses

Share of net earnings of equity method investment

Net cash (used in) provided by operating activities

(1,685.0)

(285.5)

Business acquisitions, net of cash acquired

(1.3)

(45.6)

(4.0)

(9.3)

Proceeds from debt issuances, net of fees

(9.8)

(19.6)

Proceeds from issuances of common stock

Purchases of common stock for treasury

Redemption of preferred stock for treasury

(6.9)

(21.1)

(111.6)

(230.3)

Effect of exchange rate changes on cash

(30.4)

(3.7)

Net cash provided by (used in) investing and financing activities

(1,235.4)

(Decrease) increase in cash, cash equivalents and restricted cash

Cash, cash equivalents and restricted cash, beginning of period

Cash, cash equivalents and restricted cash, end of period

Free Cash Flow Computation²

Net cash (used in) provided by operating activities

$                (443.9)

Free cash flow (before dividends)

$             (1,970.5)

Reconciliation of Cash, Cash Equivalents and Restricted Cash

Restricted cash included in Other current assets

Cash and cash equivalents included in Current assets held for sale

Cash, cash equivalents and restricted cash

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 and preferred stock and business acquisitions, among other items.

STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

BUSINESS SEGMENT INFORMATION

(Unaudited, Millions of Dollars)

(92.8)

(140.2)

Segment Profit as a Percentage of Net Sales

STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS FINANCIAL MEASURES TO CORRESPONDING

(Unaudited, Millions of Dollars Except Per Share Amounts)

Earnings from continuing operations before income taxes and equity interest

Net earnings from continuing operations attributable to common shareowners – Diluted

Diluted earnings per share of common stock – Continuing operations

Acquisition-related charges and other relate primarily to a non-cash asset impairment charge related to the Oil & Gas business, integration-related costs,
non-cash inventory step-up charges and restructuring.

SECOND QUARTER 2021

$                       1.3

Earnings from continuing operations before income taxes and equity interest

Share of net earnings of equity method investment

Net earnings from continuing operations attributable to common shareowners – Diluted

Diluted earnings per share of common stock – Continuing operations

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,
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.                        

STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS FINANCIAL MEASURES TO CORRESPONDING

(Unaudited, Millions of Dollars Except Per Share Amounts)

1,701.2

Earnings from continuing operations before income taxes and equity interest

Net earnings from continuing operations attributable to common shareowners – Diluted

Diluted earnings per share of common stock – Continuing operations

Acquisition-related charges and other relate primarily to a non-cash asset impairment charge related to the Oil & Gas business, non-cash inventory step-
up charges, restructuring,  integration-related costs, a voluntary retirement program and the Russia business closure.

YEAR-TO-DATE 2021

$                       5.7

1,452.8

Earnings from continuing operations before income taxes and equity interest

Share of net earnings of equity method investment

Net earnings from continuing operations attributable to common shareowners – Diluted

Diluted earnings per share of common stock – Continuing operations

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, 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.

STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP SEGMENT PROFIT FINANCIAL MEASURES TO CORRESPONDING

(Unaudited, Millions of Dollars)

Segment Profit as a Percentage of Net Sales

Acquisition-related charges and other relate primarily to integration-related costs and non-cash inventory step-up charges.

Segment Profit as a Percentage of Net Sales

The non-GAAP 2022 and 2021 business segment information, as reconciled to GAAP above, is considered 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.

STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP SEGMENT PROFIT FINANCIAL MEASURES TO CORRESPONDING

(Unaudited, Millions of Dollars)

Segment Profit as a Percentage of Net Sales

Acquisition-related charges and other relate primarily to integration-related costs, non-cash inventory step-up charges, a
voluntary retirement program and the Russia business closure.

YEAR-TO-DATE 2021

$                   13.4

$                   39.1

Segment Profit as a Percentage of Net Sales

The non-GAAP 2022 and 2021 business segment information, as reconciled to GAAP above, is considered 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.

SOURCE Stanley Black & Decker