Stanley Black & Decker Reaffirms 2021 Guidance And Provides Strategic Update At Growth Summit
At the event,
Key messages from the day included:
- The Company is well-positioned for growth and margin expansion and expects to benefit from several key market demand trends which have been accelerated and amplified by the pandemic: the consumer reconnection with the home and garden, eCommerce, electrification and health and safety. 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.
- The Company provided an update on its margin resiliency initiative, a technology-enabled transformative program that is expected to generate
$300- $500 millionin cost savings over a 3-year period.
- The Company reinforced its commitment to corporate social responsibility, emphasizing its positive impact on society and the Company's performance. Management provided details on how the Company is addressing climate change in its operations, creating a culture that fosters diversity and inclusion, playing a role in addressing societal needs, pursuing responsible governance, and integrating ESG into its business strategies and products.
Management reaffirmed its updated full year 2021 guidance as provided on
The difference between 2021 GAAP and adjusted EPS guidance is
A video replay of the event will be available later today in the "Investors" section of the company's website at www.stanleyblackanddecker.com and will be available for 90 days.
Stanley Black & Decker Investor Contacts
Vice President, Investor Relations
Director, Investor Relations
Director, Investor Relations
Vice President & Chief Communications Officer
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Important factors that could cause the Company's actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in its forward-looking statements include, among others, the following: (i) successfully developing, marketing and achieving sales from new products and services and the continued acceptance of current products and services; (ii) macroeconomic factors, including global and regional business conditions (such as Brexit), commodity prices, inflation and deflation, and currency exchange rates; (iii) laws, regulations and governmental policies affecting the Company's activities in the countries where it does business, including those related to tariffs, taxation, data privacy, anti-bribery, anti-corruption, government contracts and trade controls such as section 301 tariffs and section 232 steel and aluminum tariffs; (iv) the economic, political, cultural and legal environment of emerging markets, particularly
Additional factors that could cause actual results to differ materially from forward-looking statements are set forth in the Annual Report on Form 10-K and in the Quarterly Report on Form 10-Q, including under the heading "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in the Consolidated Financial Statements and the related Notes.
Forward-looking statements in this press release speak only as of the date hereof, and forward-looking statements in documents attached that are incorporated by reference speak only as of the date of those documents. The Company does not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.
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