The company said it is preparing to adjust pricing and supply chains to mitigate the impact of Trump administration tariffs.
Latest In Stanley Black & Decker
The company's overall sales decrease was attributed to SBD's Infrastructure divestment earlier this year, and lower consumer demand.
Q2 growth driven by DEWALT, Outdoor Products and Engineered Fastening was offset by SBD's divested Infrastructure segment earlier this year.
Growth in DEWALT and Engineered Fastening was more than offset by lower infrastructure volume and "muted consumer and DIY demand."
SBD's Tools & Outdoor segment drove the overall margin improvement, as Industrial dipped slightly.
Epiroc AB is set to acquire Stanley Black & Decker's attachment and handheld hydraulic tools business, Stanley Infrastructure.
Year-over-year sales declines continued at the toolmaker, but gross margin and operating margins improved substantially.
The industrial tools manufacturer also announced a new leader for its Tools & Outdoor segment.
Changes also will include U.S. site expansions, site transformations into manufacturing centers of excellence and site consolidation.
A new report states a majority of economists now think a would-be recession is coming later than expected. It suggests a softer economic landing as distributors continue to report strong financials.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
The toolmaker reported full-year 2022 revenues of $16.9 Billion, an 11% increase over the prior-year total.
Patrick Hallinan has been appointed to Executive Vice President & Chief Financial Officer, effective April 6.
MDM looks at reports from Stanley Black & Decker, Avnet, Timken, Illinois Tool Works, MSA Safety Incorporated, Caterpillar and Saint-Gobain.
It's part of the toolmaker's plan to save $1.5 billion in three-year cost savings while shifting resources and reprioritizing investments.
The transaction was initially announced on Dec. 8, 2021, and Security generated approximately $1.6 billion in revenue that year.
Jaime Ramirez steps down as EVP and president in tools & storage, while Robert Raff leads tools as acting EVP and president.
The sale encompasses pipeline services and equipment businesses, which generated combined revenues of approximately $140 million in 2021.
In addition to the leadership announcement, the company plans to invest up to $250 million in supply chain productivity.
The innovation division of Stanley Black & Decker said Michelle Bockman has been appointed president.
One of the sessions at the ISA22 event centered on the topic of omnichannel and what it means today — which goes far beyond just having an e-commerce presence. Here’s the key takeaways from that session and their applications.
To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.
