Stanley B&D 2021 sales up 20%

Stanley Black & Decker (SWK), based in New Britain, Conn., reported record revenue and earnings growth in 2021 driven by customer demand, product innovations.

“We completed 2021 with a series of strategic transactions that focused our core business, including establishing Stanley Black & Decker as a global leader in the $25 billion outdoor power equipment market as well as announcing the pending sale of our electronic security business,” said Stanley Black & Decker’s CEO Jim Loree.

The company reported full year revenue growth of 20% to $15.6 billion; and reported record 17% organic revenue growth. Fourth quarter revenues were $4.1 billion, up 2% versus prior year led by acquisitions and price realization, said the firm.

In Q4 segments, the company reported Tools & Storage net sales increased 3% versus 4Q ’20. Industrial net sales declined 7% versus 4Q ’20.

The Bottom Line: Stanley Black & Decker sales moved ahead 20% company-wide for full-year 2021.

What the CEO said: “Stanley Black & Decker delivered record revenue and earnings growth in 2021 supported by robust customer demand and our growing portfolio of product innovations,” said Loree.

“While we continued to navigate an extremely dynamic supply chain and inflationary environment as the year progressed, we are focused on even stronger day-to-day operational execution, inventory management and pricing realization,” said the CEO.

Company info: Click HERE to read the 2021 financial report from Stanley Black & Decker.