STANLEY BLACK & DECKER, INC. (SWK)

Stanley Black & Decker, Inc., founded in 1843 and formed through a 2010 merger between The Stanley Works and The Black & Decker Corporation, is a global manufacturer and marketer of hand tools, power tools, outdoor products, and related accessories, as well as a leading provider of engineered fastening solutions and attachment tools for infrastructure applications, generating $16.9 billion in consolidated revenue in 2022, with approximately 63% from the United States, 15% from Europe, 12% from emerging markets, and 5% from Canada. The Company operates through two reportable segments: Tools & Outdoor, which accounted for 85% of 2022 revenues ($14.4 billion) and includes the Power Tools Group (professional and consumer corded/cordless power tools, pneumatic fasteners, and home products), Hand Tools, Accessories & Storage (hand tools, power tool accessories, and storage solutions), and Outdoor Power Equipment (electric and gas-powered lawn and garden products, mowers, tractors, and UTVs) sold under iconic brands including DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER, and CUB CADET; and Industrial, representing 15% of 2022 revenues ($2.5 billion), comprising Engineered Fastening (fasteners, rivets, weld studs, and precision fastening systems serving automotive, aerospace, electronics, and construction markets) and Infrastructure (hydraulic tools and heavy equipment attachment tools for off-highway applications). The Company sells its products to professional end users, distributors, independent dealers, retail consumers, and industrial customers across diverse geographies, with the majority of Tools & Outdoor sales distributed through home centers, mass merchants, hardware stores, retail lumber yards, and third-party distributors, while Industrial segment products are sold primarily through a direct sales force; key customers include Lowe's (approximately 15% of 2022 consolidated net sales) and The Home Depot (approximately 13%).

In recent years, the Company has focused its portfolio on core Tools & Outdoor and Industrial businesses through strategic acquisitions, including MTD Holdings, Excel Industries, and Consolidated Aerospace Manufacturing, alongside divestitures of its Oil & Gas, Convergent Security Solutions, and Mechanical Access Solutions businesses, while simultaneously executing a $2.0 billion Global Cost Reduction Program through 2025 aimed at driving organic growth, streamlining operations, improving supply chain performance and gross margins, and prioritizing cash flow generation, debt reduction, and shareholder returns. As of December 31, 2022, the Company employed approximately 54,200 people across 59 countries, supported by a broader strategy emphasizing innovation, sustainability, and diversity, equity and inclusion initiatives.