Q2 2024 Stanley Black & Decker Inc Earnings Call Transcript
Key Points
- Stanley Black & Decker Inc (SWK) reported a significant improvement in gross margin, up 560 basis points year-over-year to 29.2%.
- The company achieved strong free cash flow generation, approaching $0.5 billion in the second quarter.
- SWK successfully reduced its debt by $1.2 billion in the quarter, contributing to improved balance sheet health.
- The DeWalt brand delivered its fifth consecutive quarter of organic growth, driven by new product introductions and strong retail volume growth.
- The company raised its full-year adjusted diluted EPS guidance range and increased its free cash flow guidance, reflecting confidence in future performance.
- Total revenue for the second quarter was $4 billion, down 3% compared to the prior year.
- The industrial segment experienced a 20% decline in revenue, primarily due to the infrastructure divestiture.
- Power Tools saw a 2% organic decline, driven by the consumer DIY category.
- The company expects mixed demand trends to continue in 2024, indicating ongoing market challenges.
- Despite improvements, the macro environment remains challenging, with expectations of continued softness in consumer demand and automotive production.
Welcome to the Second Quarter 2020 for Stanley Black & Decker Earnings Conference Call. My name is Shannon, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later we will conduct a question and answer session. Please note that this conference is being recorded, and I will now turn the call over to the Vice President of Investor Relations, Dennis Lange. Mr. Lang, you may.
Thank you, Shannon, and good morning, everyone, and thanks for joining us for Stanley Black & Decker's 2024 second quarter webcast here today. In addition to myself is Don Allan, President and CEO, Chris Nelson, CO. EVP and President of tools and outdoor, and Pat Helen, EVP and CFO. Our earnings release, which was issued earlier this morning and a supplemental presentation, which we will refer to are available on the IR section of our website. A replay of this morning's webcast will also be available beginning at 11 a.m. today this morning, Don, Chris
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
