Stanley Black & Decker, Inc. (SWK) Presents at Goldman Sachs Industrials and Materials Conference 2025 Transcript

Joseph Ritchie
Goldman Sachs Group, Inc., Research Division

Right. Hello, everybody. So for our next presenters, we’re excited to have Stanley Black & Decker here with us. We’ve got Pat Hallinan, CFO. Pat, you wanted to kind of start off with some initial remarks. So why don’t I turn it over to you?

Patrick Hallinan
Executive VP & CFO

Yes. I’ll say a few things and then turn it over to you, Joe, for some questions. Obviously, for manufacturers, especially manufacturers with long supply chains especially those that extend to Asia. It’s been quite an interesting year. And I would just start off saying that while this has been a year of dealing with a number of challenges and headwinds, as a team, we’re quite confident that we stay on our long-term trajectory about a year ago this time we had a Capital Markets Day, laid out a number of markers of getting to mid-single-digit top line growth, 35-plus percent gross margin and EBITDA margin in the high teens or better.

And we still think those are the right targets for the business. Tariffs probably put us 12 or so months behind that pace. But we’ve taken enough price to offset the tariffs. And then we’re going to be pursuing mitigation that is well underway and throughout next year, that kind of gets the margin back on the volume impacted by tariffs, and we feel very confident with the path we’re on. We would certainly welcome a calmer environment or a more construction products friendly environment, but we are confident in the things that we