Shareholders joined Stanley Black & Decker business leaders for a virtual summit focused on our plans for even greater growth.
The virtual event, broadcast from our Manufactory in Hartford, Connecticut, included visionaries from all areas of the company (tools and storage, electronic security, global industrial) who oversee our renowned brands including BLACK+DECKER, DEWALT, CRAFTSMAN and STANLEY.
Among the key takeaways:
- We’re well-positioned for growth and margin expansion and expect to benefit from several key market demand trends which have been accelerated and amplified by the pandemic, including:
- Consumer reconnection with home and garden
- Electrification of vehicles and power tools
- Health and safety
- We’ve reviewed several revenue growth catalysts to capitalize on trends. At the event, management reviewed several revenue growth catalysts to capitalize on these trends, including the option to acquire the remaining 80% of MTD, which becomes available in July.
- We’ve implemented a strong margin resiliency initiative – a technology-enabled transformative program expected to generate $300 - $500 million in cost savings over a 3-year period.
- We remain committed to making a positive impact on society by addressing climate change in our operations, creating a culture that fosters diversity and inclusion and integrating environmental, social and governance (ESG) objectives into our business strategies.
As Stanley Black & Decker CEO Jim Loree affirmed at the summit, “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."
Missed the Event?
If you were not able to attend the Growth Summit – or would like a recap, watch the event replay and view the presentations (Available for 90 days).