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Stanley Black & Decker Reaffirms 2021 Guidance And Provides Strategic Update At Growth Summit
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NEW BRITAIN, Conn., May 13, 2021 /PRNewswire/ Stanley Black & Decker (NYSE: SWK) hosted a virtual growth summit with investors today.
At the event, Stanley Black & Decker s leadership team provided an update on its growth catalysts and margin resiliency initiative, and detailed how each is critical to achieving the Company s long-term vision.
Stanley Black & Decker s CEO James M. Loree commented, We have built a great company with a people-oriented culture that is powered by the SBD Operating Model and grounded by a dedication to performance, innovation and social responsibility. As we look to the future, we have an array of extraordinary growth opportunities in 2021 and beyond. We are harnessing powerful market trends and investing across the businesses to deliver sustained above-market organic growth and margin expansion
New Britain-based industrial tools and household hardware manufacturer Stanley Black & Decker continued to ride a recent boom in construction projects into the first quarter of 2021, with profits rising sharply from a year earlier.
The company reported net income of $478 million, or $3.04 per share, up from $133.2 million, or 89 cents, in the year-ago period. Net sales climbed from $3.1 billion in the opening quarter of 2020 to $4.1 billion in the first quarter of 2021.
In a statement, Stanley Black & Decker CEO James M. Loree attributed the results to several consumer trends he said had been amplified by the COVID-19 pandemic, including customers’ “reconnection” to their homes and gardens, e-commerce, and a renewed emphasis on health and safety.
Stanley Black & Decker Reports Record 1Q 2021 Results
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NEW BRITAIN, Conn., April 28, 2021 /PRNewswire/ Stanley Black & Decker (NYSE: SWK) today announced first quarter 2021 financial results.
1Q 21 Revenues Totaled $4.2 Billion, Up 34% Versus Prior Year Led By Tools & Storage With All Segments Contributing To 31% Organic Growth
1Q 21 Gross Margin Was 37.3%; Excluding Charges, 1Q 21 Gross Margin Was 37.4% Up 440 Basis Points Versus Prior Year
1Q 21 Operating Margin Was 16.9%; Excluding Charges 1Q 21 Operating Margin Was 17.6%, Up 760 Basis Points Versus Prior Year Driven By Volume, Price, Cost Control And Margin Resiliency
1Q 21 Diluted GAAP EPS Was $2.98; Excluding Charges, 1Q 21 Diluted EPS Was $3.13, Up 161% Versus Prior Year