- Due to stronger demand in Tools and Storage as well as a stronger performance in Engineered Fastening and Attachment Tools, Stanley Black & Decker (NYSE:SWK) is updating its guidance that was shared in late October.
- Fourth quarter organic growth is now approaching 10% vs. the prior assumption of 3%–5%.
- Full year operating margin dollar growth of 7%–9% versus 2019 compared to a prior assumption of mid-single digit growth.
- Full year free cash flow is assumed to be greater than $1B versus the prior assumption of $800M–$900M.
- Tools & Storage United States Retail POS is also tracking above the high end of the company's planning assumption, with the quarter to date growth up 22% through Dec. 5. In Q4, the stronger demand is expected to generate improved operating leverage and result in a second consecutive quarter of historically strong operating margin rate performance for Stanley Black & Decker.
- SWK +0.4% premarket.