Stanley Black & Decker : 1Q 2026 Stanley Black & Decker, Inc. Earnings Conference Call Summary Financials

Published: 2026-04-29 09:16:13 ET SWK

Published on 04/29/2026 at 09:16 am EDT

‌STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, Millions of Dollars Except Per Share Amounts)

FIRST QUARTER

2026

2025

41.9

47.5

3.1

0.3

22.7 -

44.9

1.2

160.7

204.8

75.9

77.2

84.8

127.6

25.2

37.2

$ 59.6

$ 90.4

COSTS AND EXPENSES

Cost of sales

Gross profit

% of Net Sales

Selling, general and administrative

% of Net Sales

Other - net

Loss on sale of business

Asset impairment charges

Restructuring charges

Income from operations

Interest - net

EARNINGS BEFORE INCOME TAXES

Income taxes

NET EARNINGS

EARNINGS PER SHARE OF COMMON STOCK

Basic

Diluted

$ 0.39 $ 0.60

$ 0.83

$ 0.82

151,759

151,028

152,389

151,699

$ 3,846.4 $

2,689.1

1,157.3

30.1%

884.0

23.0%

3,744.6

2,623.8

1,120.8

29.9%

867.0

23.2%

WEIGHTED-AVERAGE SHARES OUTSTANDING (in thousands)

Basic

Diluted

‌STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited, Millions of Dollars)

April 4,

2026

January 3,

2026

ASSETS

Cash and cash equivalents

Accounts and notes receivable, net

Inventories, net

Current assets held for sale

Other current assets

Total current assets

Property, plant and equipment, net

Goodwill and other intangibles, net

Long-term assets held for sale

Other assets

Total assets

$ 333.7

1,438.4

4,059.0

271.5

404.2

6,506.8

1,763.1

10,325.3

1,279.5

1,725.1

$ 21,599.8

$ 280.1

919.7

4,157.1

262.4

359.7

5,979.0

1,831.8

10,374.8

1,273.9

1,784.2

$ 21,243.7

LIABILITIES AND SHAREOWNERS' EQUITY

Short-term borrowings

Current maturities of long-term debt

Accounts payable

Accrued expenses

Current liabilities held for sale

Total current liabilities

Long-term debt

Long-term liabilities held for sale

Other long-term liabilities

Shareowners' equity

Total liabilities and shareowners' equity

$ 1,743.0

54.2

2,220.1

1,642.5

56.8

5,716.6

4,704.0

9.7

2,192.8

8,976.7

$ 21,599.8

$ 605.6

554.8

2,163.0

1,878.1

44.2

5,245.7

4,703.3

9.4

2,230.7

9,054.6

$ 21,243.7

‌STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

SUMMARY OF CASH FLOW ACTIVITY

(Unaudited, Millions of Dollars)

FIRST QUARTER

2026

2025

OPERATING ACTIVITIES

Net earnings

Depreciation

Amortization

Loss on sale of business

Asset impairment charges

Changes in working capital1

Other

Net cash used in operating activities

$ 59.6

84.4

28.6

3.1

22.7

(388.8)

(198.4)

(388.8)

$ 90.4

91.1

37.3

0.3

(469.0)

(170.1)

(420.0)

INVESTING AND FINANCING ACTIVITIES

Capital and software expenditures

Payments on long-term debt

Net short-term commercial paper borrowings

Cash dividends on common stock

Other

Net cash provided by investing and financing activities

(58.5)

(500.1)

1,145.4

(126.0)

(8.1)

452.7

(65.0)

(500.0)

1,136.2

(124.5)

(2.4)

444.3

Effect of exchange rate changes on cash (6.9) 31.5

57.0 55.8

287.4 292.8

$ 344.4 $ 348.6

Increase in cash, cash equivalents and restricted cash

Cash, cash equivalents and restricted cash, beginning of period Cash, cash equivalents and restricted cash, end of period

Free Cash Flow Computation2

Net cash used in operating activities

Less: capital and software expenditures

Free cash flow (before dividends)

$ (388.8) $ (420.0)

(58.5) (65.0)

$ (447.3) $ (485.0)

April 4, January 3,

2026 2026

$ 333.7 $ 280.1

9.2 7.3

1.5 -

$ 344.4 $ 287.4

Reconciliation of Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents

Restricted cash included in Other current assets

Cash and cash equivalents included in Current assets held for sale

Cash, cash equivalents and restricted cash

Working capital is comprised of accounts receivable, inventory, accounts payable and deferred revenue.

Free cash flow is defined as cash flow from operations less capital and software expenditures. Management considers free cash flow an important measure of its liquidity, as well as its ability to fund future growth and to provide a return to the shareowners, and is useful information for investors. Free cash flow does not include deductions for mandatory debt service, other borrowing activity, discretionary dividends on the Company's common stock and business acquisitions, among other items.

‌STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

BUSINESS SEGMENT INFORMATION

(Unaudited, Millions of Dollars)

FIRST QUARTER

2026

2025

NET SALES

Tools & Outdoor

Engineered Fastening1

Total

$ 3,335.6

510.8

$ 3,846.4

$ 3,280.9

463.7

$ 3,744.6

SEGMENT PROFIT 2

Tools & Outdoor

Engineered Fastening1

$ 276.0

$ 60.9

$ 289.2

$ 39.0

$ (63.6) $

(74.4)

Segment Profit as a Percentage of Net Sales

Tools & Outdoor

Engineered Fastening1

8.3%

11.9%

8.8%

8.4%

On April 6, 2026, the Company completed the previously announced sale of its Consolidated Aerospace

Manufacturing ("CAM") business. Based on management's commitment to sell this business, the assets and liabilities related to CAM were classified as held for sale on the Company's Condensed Consolidated Balance Sheets as of April 4, 2026 and January 3, 2026. For the three months ended April 4, 2026, net sales and segment profit for Engineered Fastening included $117.0 million and $22.0 million, respectively, related to the CAM business.

Segment profit is defined as net sales minus cost of sales and SG&A (aside from corporate overhead expenses).

The corporate overhead element of SG&A, which is not allocated to the business segments for purposes of determining segment profit, consists of the costs associated with the executive management team and expenses related to centralized functions that benefit the entire Company but are not directly attributable to the business segments, such as legal and corporate finance functions, as well as expenses for the world headquarters facility.

‌STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS FINANCIAL MEASURES TO CORRESPONDING

NON-GAAP FINANCIAL MEASURES

(Unaudited, Millions of Dollars Except Per Share Amounts)

FIRST QUARTER 2026

GAAP

Non-GAAP

Adjustments

Non-GAAP1

Gross profit

% of Net Sales

Selling, general and administrative

% of Net Sales

Earnings before income taxes

Income taxes2

Net earnings

Diluted earnings per share of common stock

$ 1,157.3

30.1%

884.0

23.0%

84.8

25.2

59.6

$ 0.39

$ 1,162.5

30.2%

876.3

22.8%

165.8

43.6

122.2

$ 0.80

81.0

18.4

62.6

$ 0.41

FIRST QUARTER 2025

GAAP

Non-GAAP

Adjustments

Non-GAAP1

Gross profit

% of Net Sales

Selling, general and administrative

% of Net Sales

Earnings before income taxes

Income taxes2

Net earnings

Diluted earnings per share of common stock

$ 1,120.8

29.9%

867.0

23.2%

127.6

37.2

90.4

$ 0.60

$ 1,137.5

30.4%

845.0

22.6%

159.1

44.7

114.4

$ 0.75

$ 16.7

(22.0)

31.5

7.5

24.0

$ 0.15

The Non-GAAP 2026 and 2025 information, as reconciled to GAAP above, is considered relevant to aid analysis and understanding of the

Company's results and business trends aside from the material impact of certain gains and charges and ensures appropriate comparability to operating results of prior periods. See further detail on Non-GAAP adjustments on page 14.

Income taxes attributable to Non-GAAP adjustments are determined by calculating income taxes on pre-tax earnings, both inclusive and exclusive of Non-GAAP adjustments, taking into consideration the nature of the Non-GAAP adjustments and the applicable statutory income tax rates.

‌STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP SEGMENT PROFIT FINANCIAL MEASURES TO CORRESPONDING

NON-GAAP FINANCIAL MEASURES

(Unaudited, Millions of Dollars)

FIRST QUARTER 2026

GAAP

Non-GAAP

Adjustments1

Non-GAAP2

SEGMENT PROFIT

Tools & Outdoor

Engineered Fastening

$ 276.0

$ 60.9

$ 12.6

$ 0.2

$ 288.6

$ 61.1

CORPORATE OVERHEAD

Segment Profit as a Percentage of Net Sales

Tools & Outdoor

Engineered Fastening

SEGMENT PROFIT

Tools & Outdoor

Engineered Fastening

CORPORATE OVERHEAD

8.3%

11.9%

$ 289.2

$ 39.0

$ 25.0

$ 7.7

FIRST QUARTER 2025

GAAP

Non-GAAP

Adjustments1

Non-GAAP2

$ (74.4) $

$ 314.2

$ 46.7

6.0 $

8.7%

12.0%

(68.4)

Segment Profit as a Percentage of Net Sales

Tools & Outdoor

Engineered Fastening

8.8%

8.4%

9.6%

10.1%

Non-GAAP adjustments for the Tools & Outdoor segment relate primarily to footprint actions associated with the supply

chain transformation, as further discussed on page 14.

The Non-GAAP 2026 and 2025 business segment and corporate overhead information, as reconciled to GAAP above, is considered relevant to aid analysis and understanding of the Company's results and business trends aside from the material impact of certain gains and charges and ensures appropriate comparability to operating results of prior periods.

‌STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS TO EBITDA

(Unaudited, Millions of Dollars)

Net earnings

% of Net Sales

Interest - net

Income taxes

Depreciation

Amortization

EBITDA1

% of Net Sales

Non-GAAP adjustments before income taxes

Less: Accelerated depreciation included in Non-GAAP adjustments before income taxes

Adjusted EBITDA1

% of Net Sales

$ 59.6

1.5%

75.9

25.2

84.4

28.6

$ 273.7

7.1%

81.0

$ 90.4

2.4%

77.2

37.2

91.1

37.3

$ 333.2

8.9%

31.5

2.9

SUMMARY OF NON-GAAP ADJUSTMENTS BEFORE INCOME TAXES

(Unaudited, Millions of Dollars)

Supply Chain Transformation Costs:

Footprint Rationalization2

Material Productivity & Operational Excellence

Other charges

Gross profit

$ 5.2

$ 6.6

4.7

5.4

$ 16.7

Supply Chain Transformation Costs:

Footprint Rationalization2

Complexity Reduction & Operational Excellence3

Transition services costs related to previously divested businesses

Other charges

Selling, general and administrative

$ 6.6

1.1

$ 7.7

$ 6.1

10.0

5.3

0.6

$ 22.0

Income related to providing transition services to previously divested businesses

Deal-related costs and other

Other, net

Loss on sale of business

Asset impairment charges4

Restructuring charges

Non-GAAP adjustments before income taxes

$ -

(2.6)

$ (2.6)

$ 3.1

22.7

44.9

$ 81.0

$ (6.8)

(1.9)

$ (8.7)

$ 0.3

1.2

$ 31.5

EBITDA is earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA represents EBITDA excluding certain gains and

charges, as summarized above. EBITDA and Adjusted EBITDA, both Non-GAAP measures, are considered relevant to aid analysis and understanding of the Company's operating results and ensures appropriate comparability to prior periods.

Footprint Rationalization costs in 2026 and 2025 primarily relate to site transformation and re-configuration costs. Facility exit costs related

to site closures are reported in Restructuring charges.

Complexity Reduction & Operational Excellence costs in 2025 primarily related to third-party consulting fees to provide expertise in identifying business model changes and quantifying related cost savings opportunities within the Company's Engineered Fastening business, developing a detailed program and related governance, and assisting the Company with the implementation of actions necessary to achieve the identified objectives.

Asset impairment charges in 2026 relate to the write-down of assets associated with the exit of a Tools and Outdoor product line and related plant closure.

FIRST QUARTER

2026

2025

$ 354.7

9.2%

$ 361.8

9.7%

FIRST QUARTER

2026

2025

‌STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP REVENUE GROWTH TO NON-GAAP ORGANIC GROWTH

(Unaudited)

Stanley Black & Decker

Tools & Outdoor

North America

Europe

Rest of World

Engineered Fastening

GAAP

Revenue

Growth

Less:

Acquisitions

Plus:

Divestitures

Less: Product Line

Transfer

Less:

Outdoor Product Line

Exits

Less:

Currency

Non-GAAP

Organic

Growth1

- %

-1%

- %

-2%

11%

- %

10%

- %

10%

- %

Non-GAAP Organic Growth, as reconciled to GAAP Revenue Growth above, is utilized to describe the change in the Company's net sales excluding the impacts of foreign

currency fluctuations, acquisitions during their initial 12 months of ownership, divestitures, transfers of product lines between segments, and outdoor product line exits (as previously communicated). Organic growth is also referred to as organic sales growth and organic revenue growth.

Disclaimer

Stanley Black & Decker Inc. published this content on April 29, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 29, 2026 at 13:15 UTC.