Stanley Black & Decker, Inc. is a diversified global provider of tools, storage, and engineered fastening systems, operating through two main business segments: Tools & Outdoor and Industrial. The company offers a wide range of products, including power tools, hand tools, outdoor equipment, and engineered components for various industries . Their products are marketed under well-known brands such as DEWALT®, CRAFTSMAN®, BLACK+DECKER®, and CUB CADET® . The Industrial segment also includes businesses that cater to the automotive and aerospace industries with specialized fastening solutions .
-
Tools & Outdoor - Comprises the Power Tools Group, Hand Tools, Accessories & Storage, and Outdoor Power Equipment, offering a variety of professional and consumer products under brands like DEWALT®, CRAFTSMAN®, and BLACK+DECKER®.
- Power Tools Group (PTG) - Offers professional and consumer power tools under brands such as DEWALT®, CRAFTSMAN®, and BLACK+DECKER®.
- Hand Tools, Accessories & Storage (HTAS) - Provides hand tools, power tool accessories, and storage products.
- Outdoor Power Equipment - Sells lawn and garden products under brands like DEWALT®, CRAFTSMAN®, and CUB CADET®.
-
Industrial - Includes the Engineered Fastening and Infrastructure businesses, providing highly engineered components like fasteners and fittings for industries such as automotive and aerospace.
- Engineered Fastening - Supplies fasteners and fittings for various industries, including automotive and aerospace.
- Infrastructure - Previously designed and sold attachments and tools for infrastructure and construction applications, but was sold in April 2024.
You might also like
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Donald Allan, Jr. ExecutiveBoard | President and Chief Executive Officer | None | Donald Allan, Jr. has been with SWK since 1999, serving in various leadership roles, including CFO and President. He became CEO in July 2022 and focuses on operational priorities, innovation, and electrification. | View Report → |
Christopher J. Nelson Executive | COO, EVP, and President of Tools & Outdoor | None | Christopher J. Nelson joined SWK in June 2023. Previously, he was President of the HVAC segment at Carrier Global Corporation and has expertise in global operations and customer-centric innovation. | |
Deborah K. Wintner Executive | Senior Vice President and CHRO | None | Deborah Wintner became CHRO in August 2024. She has been with SWK for six years and previously led HR operations for the Tools and Outdoor division. | |
Patrick D. Hallinan Executive | Executive Vice President and CFO | Board Member at HNI Corporation | Patrick Hallinan joined SWK in April 2023. Previously, he was CFO at Fortune Brands Innovations, Inc. and has extensive experience in finance and strategic transformation. | |
Tamer K. Abuaita Executive | Senior Vice President and Chief Supply Chain Officer | None | Tamer K. Abuaita joined SWK in January 2022 and oversees supply chain operations. He received a compensation adjustment in 2024 due to increased responsibilities. | |
Adrian V. Mitchell Board | Director | COO and CFO at Macy’s, Inc. | Adrian Mitchell joined SWK’s board in 2022. He has held leadership roles at Macy’s, Crate and Barrel, and Target, with expertise in finance, operations, and digital transformation. | |
Andrea J. Ayers Board | Independent Chair of the Board | Director at United States Steel Corporation | Andrea Ayers has been a director at SWK since 2014 and became Independent Chair in 2022. She has extensive experience in customer management analytics and technology. | |
Jane M. Palmieri Board | Director | None | Jane Palmieri joined SWK’s board in 2021. She is President of Industrial Intermediates & Infrastructure at Dow Inc. and has expertise in sustainability and energy efficiency. | |
Michael D. Hankin Board | Director | CEO of Brown Advisory Incorporated | Michael Hankin has been a director at SWK since 2016. He is also CEO of Brown Advisory, where he has grown assets under management significantly. | |
Robert J. Manning Board | Director | None | Robert Manning joined SWK’s board in 2022. He has extensive experience in financial services and investment stewardship, having served as CEO and Chairman at MFS Investment Management. | |
Susan K. Carter Board | Director | Director at Amcor plc and ON Semiconductor | Susan Carter joined SWK’s board in October 2023. She has over 30 years of financial leadership experience, including as CFO at Ingersoll Rand and KBR. |
-
Given the mixed demand environment you mentioned and expectations of continued macroeconomic challenges, how confident are you in achieving the 35% plus adjusted gross margin goal within your transformation time horizon, and what contingencies do you have in place if market conditions worsen?
-
You noted strong free cash flow generation this quarter, partly due to accelerated working capital improvements. With expectations of a soft macro environment in the second half, can you elaborate on the specific actions you will take to sustain free cash flow and further reduce debt, especially considering the planned additional $400 million to $500 million of short-term debt reduction by year-end?
-
With your increased investments in innovation, brand marketing, and market activation, how are you balancing these expenditures with your commitment to cost management and margin improvement, particularly in light of the challenging demand environment and the need to fund additional organic growth investments?
-
The guidance mentions a second quarter environmental reserve expense of approximately $155 million. Can you provide more details on this expense and discuss how it impacts your financial outlook, especially concerning priorities like debt reduction and investment in growth initiatives?
-
In the Industrial segment, you expect flat to slightly positive organic revenue growth, with aerospace fasteners growth being partially offset by global automotive OEM light vehicle production headwinds. How are you navigating these industry-specific challenges, and what strategies are in place to drive growth in this segment despite the macro pressures?
Research analysts who have asked questions during STANLEY BLACK & DECKER earnings calls.
Nigel Coe
Wolfe Research, LLC
4 questions for SWK
Julian Mitchell
Barclays Investment Bank
3 questions for SWK
Michael Rehaut
JPMorgan Chase & Co.
3 questions for SWK
Timothy Wojs
Robert W. Baird & Co.
3 questions for SWK
Adam Baumgarten
Zelman & Associates
2 questions for SWK
Christopher Snyder
Morgan Stanley
2 questions for SWK
Jeffrey Sprague
Vertical Research Partners
2 questions for SWK
Nicole DeBlase
BofA Securities
2 questions for SWK
Robert Wertheimer
Melius Research
2 questions for SWK
Brett Linzey
Mizuho Securities
1 question for SWK
Chris Snyder
Morgan Stanley
1 question for SWK
Jonathan Matuszewski
Jefferies Financial Group Inc.
1 question for SWK
Joseph O'Dea
Wells Fargo & Company
1 question for SWK
Joseph Ritchie
Goldman Sachs
1 question for SWK
Rob Wertheimer
Melius Research LLC
1 question for SWK
Tim Wojs
Robert W. Baird & Co. Incorporated
1 question for SWK
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Lowe’s | Major Home Center | All | Accounted for 14% of consolidated net sales in 2024 , 14% in 2023 , and 15% in 2022. |
The Home Depot | Major Home Center | All | Accounted for 14% of consolidated net sales in 2024 and 13% in 2023 and 2022. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
MTD Holdings Inc. | 2021 | Stanley Black & Decker acquired the remaining 80% stake in MTD Holdings for $1.6 billion in cash (after a prior 20% stake for $234 million), solidifying its leadership in the global outdoor power equipment market with known brands and over $2.5 billion in revenue; the deal is expected to create a leader in the $25 billion outdoor category and was subject to customary closing conditions and regulatory approvals. |
Excel Industries | 2021 | Stanley Black & Decker acquired Excel Industries on September 12, 2021, for $375 million in cash as a strategic bolt-on to enhance its outdoor products segment, contributing to a combined $4 billion outdoor platform; Excel’s strong design and manufacturing capabilities in premium turf-care equipment, along with its solid presence in the independent dealer network, made it an ideal fit, with the acquisition accounted for using the acquisition method and subject to typical closing conditions. |
Recent press releases and 8-K filings for SWK.
- ResearchAndMarkets added the Builder Hardware Market – Global Forecast to 2030 report, projecting growth from USD 52.84 billion in 2024 to USD 55.94 billion in 2025 and a 5.64% CAGR to reach USD 73.46 billion by 2030.
- The report segments the market by product (bolts, screws, door closers, handles, hinges, locks), distribution channel, end-user application, material, operation and mounting type, and geographic region.
- Key trends include accelerating demand for IoT-driven smart hardware, supply-chain resilience via near-shoring and digital logistics, regulatory shifts toward recycled materials, and growing modular construction adoption.
- Enhanced U.S. tariffs in 2025 on steel, brass, and precision components are driving cost pressures, prompting manufacturers to near-shore operations and invest in automation to preserve margins.
- CEO transition: Chris Nelson will become CEO in October, with Don Allan moving to Executive Chair, underscoring continuity in the company’s leadership and strategic focus.
- Margin targets and tariff mitigation: Facing an $800 million annualized tariff headwind, the company expects ~31% gross margin in FY 2025 and aims for 35%+ by late 2026 through two price increases, supply-chain shifts (China→Mexico) and ongoing transformation savings.
- Brand investment focus: Prioritizing DEWALT®, STANLEY® and CRAFTSMAN® (> 75% of revenue) with ~$100 million of incremental annual growth spend, and expects STANLEY® and CRAFTSMAN® to gain traction in 2026, especially in Europe and DIY channels.
- Market positioning: Targets mid-single-digit growth vs a 3–5% market by leveraging innovation and field support; current pro segment is resilient while consumer demand remains pressured.
- Planned divestiture: Intends to divest ~$500 million of assets (likely the Arrow fastener business), with completion expected in Q4 2025 or Q1 2026.
- Leadership transition announced: Chris Nelson will step into the CEO role in October, with Don Allan becoming Executive Chair, ensuring continuity of the company’s strategic plan.
- Brand prioritization focusing on DEWALT®, STANLEY®, and CRAFTSMAN®—which together comprise over 75% of revenue—to concentrate innovation and go-to-market investments in professional and DIY segments.
- Margin improvement roadmap targeting mid-30% gross margins by end-2026 through a second price increase in Q4, annualized $800 million in tariff mitigation, and supply-chain shifts to Mexico and other regions.
- Fastener portfolio optimization with plans to divest Arrow (≈$400 million revenue) in Q4 or Q1, while retaining the remaining industrial fasteners business (≈$1.7–$1.8 billion) to maximize shareholder value.
- Chris Nelson to become CEO in October with Don Allan moving to Executive Chair, reinforcing the focus on organic growth and margin expansion.
- Focusing on DEWALT®, STANLEY®, and CRAFTSMAN®, which together account for 75%+ of revenue, supported by $100 million of annual incremental growth investment to target 4–6% organic growth.
- Mitigating $800 million of annualized tariffs via a second price increase and supply‐chain shifts (USMCA optimization), aiming for ~31% gross margin in 2025 and 35%+ by end-2026 (12-month delay due to tariffs).
- Planning the divestiture of Arrow (fastener business, ~$400 million revenue) in Q4 2025/Q1 2026 to streamline the portfolio.
- Leadership transition: Chris Nelson will become CEO in October, with Don Allan moving to Executive Chair.
- Brand prioritization: DEWALT, STANLEY and CRAFTSMAN represent 75%+ of revenues, supported by $100 million of incremental annual growth investment.
- Tariff impact and mitigation: Incurs $800 million of annualized tariff costs; plans include a second price increase in Q4 and supply-chain shifts to Mexico for USMCA compliance.
- Margin targets: Full-year 2025 gross margin is expected at 31%, with a goal of 35%+ by end-2026 via tariff mitigation and transformation savings.
- Market share growth: Targets 4%–6% revenue growth in a 3%–5% market through focused innovation and expanded in-field support to capture share from smaller competitors.
- On June 23, 2025, Stanley Black & Decker secured a $1.25 billion 364-day revolving credit facility with Citibank, BofA Securities, JPMorgan and Wells Fargo as arrangers; proceeds may be drawn in USD or EUR and bear interest at Base Rate, EURIBOR or Term SOFR plus a margin.
- The facility matures on June 22, 2026, and outstanding borrowings may be converted into a term loan repayable by the first anniversary of the termination date; no amounts were drawn at closing.
- The agreement includes customary covenants, notably an interest coverage ratio of 3.50 to 1.00, stepping down to 2.50 to 1.00 for any four-quarter period ending on or before Q2 2026; EBITDA may be increased by addbacks up to $250 million per four-quarter period through Q2 2026.
- Simultaneously, the company and lenders executed Amendment No. 1 to its Amended and Restated Five Year Credit Agreement, adopting the same 2.50 coverage threshold and $250 million addback cap, in exchange for a one-basis-point amendment fee.
- Transformation progress: The company reported continued organic year-over-year growth and margin expansion, notably driven by DEWALT, as it builds a solid foundation to achieve 35%+ gross margins.
- Tariff impact improvement: Adjustments have reduced the annualized tariff impact from approximately $1.7 billion to a $500-600 million range, lowering the pricing headwind from about $0.75 to nearly $0.40.
- Supply chain restructuring: Efforts are underway to centralize the supply chain and shift production from China to Mexico, aiming to boost USMCA compliance from less than one-third to higher levels within 12 months.
- Strong Q1 revenue: Stanley Black & Decker reported $3.7 billion in Q1 2025 revenues (a 3% YoY decline with 1% organic growth) .
- Robust EPS performance: Q1 earnings were solid with adjusted EPS of $0.75 (up 34% YoY) and GAAP EPS of $0.60 .
- Notable margin improvements: Adjusted gross margin increased by 140 basis points to 30.4%, while overall gross margin improved to 29.9% (up 130 basis points) .
- Tariff mitigation & supply chain strategy: Management is countering trade policy headwinds with high single-digit price increases, strategic supply chain adjustments, and strong demand for the DEWALT brand .
- Transformation focus: The company achieved a free cash outflow of $485 million as it advances its transformation and aims for a $2 billion cost savings target .
- Full-year guidance: Targets include GAAP EPS of $3.30 and adjusted EPS of around $4.50 .
- Additional challenges: Results were influenced by currency headwinds and the final quarter impact of an infrastructure divestiture .
- The filing, dated April 25, 2025, details the outcomes of the 2025 Annual Meeting of Shareholders for Stanley Black & Decker, including share record information and vote counts on key proposals.
- Shareholders approved director nominations with detailed vote counts, along with an advisory vote on executive compensation.
- The report also confirms the selection of Ernst & Young LLP as the company’s independent auditor for the 2025 fiscal year.