Growth in DEWALT and Engineered Fastening was more than offset by lower infrastructure volume and "muted consumer and DIY demand."
Latest In Stanley Black & Decker
SBD's Tools & Outdoor segment drove the overall margin improvement, as Industrial dipped slightly.
Epiroc ABÂ 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.
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.
The company reported a 7% organic decline primarily related to impacts from COVID-19.
The North Texas plant will bring about 500 jobs to the area.