Stanley Black & Decker reported its 2024 fourth quarter and full-year financial results on Feb. 5, which showed a positive performance for the company’s DEWALT and Aerospace Fasteners products throughout 2024.

4Q Results

SBD posted total sales of $3.7 billion, flat year-over-year as growth in volume (+4%) was offset by price (-1%), currency (-1%) and the company’s infrastructure business divestiture (-2%).

The company’s 4Q gross margin of 30.8% jumped 120 basis points year-over-year, with adjusted gross margin of 31.2% likewise up 140 bps compared to the same period a year prior.

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“Against a mixed macroeconomic backdrop, we are encouraged by the growth and share gain momentum in DEWALT and within portions of engineered fastening,” SBD President and CEO Donald Allan Jr. said in the company’s financial release. “As we continue on this journey, we are proud to have delivered on key financial milestones, including adjusted gross margin* exceeding 31% in the fourth quarter along with strong cash generation. I want to thank our organization for their relentless focus and dedication to serving our customers and achieving these results.”

SBD has a 4Q net profit of $1.14 billion, while adjusted EBITDA margin of 10.2% was up 80 bps year-over-year.

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By SBD business unit in 4Q:

• Tools & Outdoor sales of $3.2 billion were up 2% year-over-year. Organic revenue was up 2% in North America; up 4% in Europe; and improved 8% in the rest of the world. Adjusted segment margin of 10.2% was up 20 bps year-over-year.
• Industrial sales of $493 million were down 15% year-over-year, with organic revenue flat as aerospace and general industrial growth was offset by automotive market softness. Adjusted segment margin was 10.7%, down 40 bps year-over-year.

Full-Year Results

SBD reported that total sales for the full-year reached $15.4 billion, down 3% year-over-year.

Organic revenue was flat compared to the same period a year prior, driven by growth in the DEWALT products and Aerospace Fasteners, offset by infrastructure divestiture and currency.

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The company’s 2024 full-year gross margin of 29.4% was up 450 bps year-over-year. SBD reported a full-year net profit of $4.5 billion, up from 2023’s $3.9 billion.

2025 Outlook

Looking forward, SBD said it expects to deliver a 35% or greater adjusted gross margin, as well as EBITDA expansion in 2025 through organic growth.

The company emphasized its preparations for the possibility of tariffs saying they “expect to respond with supply chain and price actions designed to mitigate the impact from such tariffs to maintain margin objectives.”

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Allan added: “Turning to 2025, we are taking actions intended to deliver share gain and to improve the cost structure behind our ongoing strategic initiatives and are preparing countermeasures designed to mitigate the impact from recently announced tariffs as their full effect becomes known. Aggregate market demand is expected to remain muted but relatively stable in the first half with the potential for a positive inflection later in the year supported by strength in professional construction as well as aerospace and industrial fastening.”