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|Stanley Black & Decker Reaffirms Guidance And Provides Strategic Update At 2017 Investor Day|
"Our vision is to be a great industrial company – one that is both human-centered and committed to delivering top-quartile growth and profitability," said
"We have a strong vision for where to take this company, with a goal of profitably doubling the size of the company to
As it relates to M&A, Loree commented, "Our focus now is effectively integrating and leveraging our investments in the Craftsman, Lenox and Irwin tools brands to deliver the growth and value we expect and have committed to – we're on track to do just that. Any sizable new acquisitions we might pursue will have to wait for a few quarters and would likely be in the form of industrial bolt-ons or further expansion of the commercial electronic security business. That doesn't rule out the occasional small tool bolt-on that might come up in the next few quarters. It also doesn't preclude larger tool acquisitions in the coming years once the recent additions are firmly in place and performing well."
"A really exciting element of our overall M&A strategy is the notion of utilizing M&A to complement our breakthrough innovation projects and vice versa -- M&A to accelerate organic growth. Acquisition targets must meet key criteria, including solid returns, sound strategic logic and fit within our value creation model," added Loree.
2017 GUIDANCE REAFFIRMED
In addition, the Company reaffirmed its updated full year 2017 guidance as provided on
Statements in this press release that are not historical, including but not limited to those regarding the Company's ability to: (i) achieve full year 2017 diluted GAAP EPS of
The Company's ability to deliver the Results as described above is based on current expectations and involves inherent risks and uncertainties, including factors listed below and other factors that could delay, divert, or change any of them, and could cause actual outcomes and results to differ materially from current expectations. In addition to the risks, uncertainties and other factors discussed in this press release, the risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied in the forward-looking statements include, without limitation, those set forth under Item 1A Risk Factors of the Company's Annual Report on Form 10-K and any material changes thereto set forth in any subsequent Quarterly Reports on Form 10-Q, or those contained in the Company's other filings with the
The Company's ability to deliver the Results is dependent, or based, upon: (i) continued improved results from the Company's Industrial Businesses; (ii) the Company's ability to invest in product, brand and commercialization of the Craftsman brand and to successfully integrate
The Company's ability to deliver the Results is also dependent upon: (i) the success of the Company's marketing and sales efforts, including the ability to develop and market new and innovative products at the right price points in both existing and new markets; (ii) the ability of the Company to maintain or improve production rates in the Company's manufacturing facilities, respond to significant changes in product demand and fulfill demand for new and existing products; (iii) the Company's ability to continue improvements in working capital through effective management of accounts receivable and inventory levels; (iv) the ability to continue successfully managing and defending claims and litigation; (v) the success of the Company's efforts to mitigate any adverse earnings impact resulting from, for example, increases in the cost of energy or significant Chinese Renminbi, Canadian Dollar, Euro, British Pound, Brazilian Real or other currency fluctuations; (vi) the geographic distribution of the Company's earnings; (vii) the commitment to and success of the Stanley Fulfillment System including, core innovation, breakthrough innovation, digital and commercial excellence and functional transformation; and (viii) successful implementation with expected results of cost reduction programs.
The Company's ability to achieve the Results will also be affected by external factors. These external factors include: challenging global geopolitical and macroeconomic environment, possibly including impact from "Brexit" or other similar actions from other EU member states; the economic environment of emerging markets, particularly
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