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Last month, the company announced the acquisition of the remaining 80% of MTD Holdings, a global manufacturer of outdoor equipment, for $1.6 billion. Catalysts such as a reconnection with homes and gardens, a boost in e-commerce, and a renewed focus on health and safety are tailwinds that can help the company achieve steady growth.Īcquisitions are also helping Stanley Black & Decker expand its portfolio of products, strengthening its value proposition. Net income more than doubled to $932.7 million, and management believes the company can post excellent long-term growth.
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Stanley Black & Decker has continued to do well this year, with sales for the first six months of 2021 jumping by 35.4% year over year to $8.5 billion.
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Net income has also risen, from $968 million to $1.2 billion over the same period, and the business generated an average of $1.1 billion in free cash flow over those five years. Sales have been steadily rising over the years, from $11.6 billion in 2016 to $14.5 billion in 2020. The tools and storage company, which owns popular brands such as Stanley, DeWalt, Black & Decker, and Craftsman, ranks first in the world and sells a stunning 50 tools every second.
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If you're looking for a power tool for carpentry work, chances are you'll look for one from Stanley Black & Decker ( NYSE:SWK).