The company says it has also raised prices to counter tariffs, inflation and higher raw material costs.
New Britain toolmaker Stanley Black & Decker says by the end of this year, less than 5% of its U.S.-sold products will be made in China. That’s down from around 20% before the start of the Trump administration’s tariff regime.
The company says it has also raised prices to counter tariffs, inflation and higher raw material costs.
“There has been a large shock put into our industry, and people are adjusting their promotion approaches as we go in a post-tariff pricing world,” CEO Chris Nelson told analysts on Wednesday during an earnings call, saying the company has been riding out significant volatility.
Stanley announced fourth quarter results that saw net sales down to $3.68 billion from $3.72 billion a year earlier. Net sales in its tools and outdoor segment fell 2%, partially on higher prices
Adjusted profit fell to $1.41 per share from $1.49 in the same period a year ago.
Stanley said its cost reduction program helped it save roughly $120 million during the fourth quarter.
Nelson said as manufacturing has moved away from China, there has been a push to get more of its products certified for preferential duty-free treatment under the United States-Mexico-Canada trade agreement (USMCA).
Looking ahead to 2026, he said that the Craftsman and Stanley brands will see some of their largest new product launches “in recent history.”
The company issued financial guidance for 2026 that was below analysts’ expectations.
The company’s stock price was little changed in Wednesday morning trading, at about $80 as of 11 a.m.
