Stanley Black & Decker(US:SWK)2025-11-04 13:00Financial Performance - Total revenue was $3.8 billion, consistent with the prior year, as price (+5%) and currency (+1%) offset lower volume (-6%) [8, 10] - Adjusted gross margin was 31.6%, an increase of 110 basis points year-over-year, driven by pricing and supply chain transformation benefits [8, 10, 17] - Adjusted EPS was $1.43, inclusive of a tax rate benefit [8, 10] - Net cash from operating activities was $221 million, and free cash flow was $155 million [10] Guidance and Targets - The company revised its 2025 EPS planning assumption to $2.55 - $2.70 on a GAAP basis and is planning for 2025 Adjusted EPS of approximately $4.55 [10] - The company is targeting annual free cash flow of approximately $600 million [10, 19] - The company is committed to achieving 35% adjusted gross margin and a solid investment grade balance sheet [7] Segment Performance - Tools & Outdoor revenue was flat, with a 12.0% adjusted segment margin, up year-over-year [12] - Engineered Fastening revenue increased by 3%, with a 12.8% adjusted segment margin, down year-over-year but up 200 basis points sequentially versus 2Q'25 [12, 14] - Tools & Outdoor organic revenue decreased by 2%, while Engineered Fastening organic revenue increased by 5% [12] Cost Savings and Liquidity - The company achieved $120 million in pre-tax run-rate cost savings in the third quarter, with $1.9 billion program-to-date [8, 17] - The company has $0.3 billion in cash on hand and $2.1 billion in additional commercial paper capacity, resulting in $2.4 billion in total additional liquidity [30]