Stanley Black & Decker (SWK) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 1, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Welcome to the Second Quarter 2023 Stanley Black & Decker Earnings Conference Call. My name is Shannon and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Please note that this conference is being recorded.

I will now turn the call over to the Vice President of Investor Relations, Dennis Lange. Mr. Lange, you may begin.

Dennis Lange

Thank you, Shannon. Good morning, everyone, and thanks for joining us for Stanley Black & Decker's 2023 second quarter webcast. On the webcast in addition to myself is Don Allan, President and CEO; Pat Hallinan, EVP and CFO; and joining us for Q&A this morning is Chris Nelson, COO, EVP, and President of Tools and Outdoor.

Our earnings release which was issued earlier this morning and a supplemental presentation which we will refer to are available on the IR section of our website. A replay of this morning's webcast will also be available beginning at 11 AM today. This morning, Don and Pat will review our second quarter results and various other matters followed by a Q&A session.

Consistent with prior webcast, we are going to be sticking with just one question per caller. And as we normally do, we will be making some forward-looking statements during the call based on our current views.

Such statements are based on assumptions of future events that may not prove to be accurate, and as such, they involve risk and uncertainty. It's therefore possible that the actual results may materially differ from any forward-looking statements that we may make today. We direct you to our cautionary statements in the 8-K that we filed with our press release and in our most recent 34 Act filing.

I will now turn the call over to our President and CEO, Don Allan.

Donald Allan

Thank you, Dennis, and good morning, everyone. Stanley Black & Decker's second quarter performance represented strong execution across the organization, driving significant progress towards our business transformation objectives on multiple fronts.

Before I get into the results, I am extremely pleased to welcome Chris Nelson to our leadership team and we have him joining us on the call for Q&A today. Chris started in June as our Chief Operating Officer and President of our Tools and Outdoor business.