Stanley Black & Decker, Inc. (SWK) Q1 2023 Earnings Call Transcript

Stanley Black & Decker, Inc. (NYSE:SWK) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET

Company Participants

Dennis Lange - Vice President-Investor Relations

Don Allan - President & Chief Executive Officer

Patrick Hallinan - Executive Vice President and CFO

Conference Call Participants

Nigel Coe - Wolfe Research

Julian Mitchell - Barclays

Tim Wojs - Baird

Josh Pokrzywinski - Morgan Stanley

Michael Rehaut - JPMorgan

Chris Snyder - UBS

Eric Bosshard - Cleveland Research

Operator

Welcome to the First 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 First Quarter Webcast. On the webcast in addition to myself, Don Allan, President and CEO; and Pat Hallinan, Executive Vice President and CFO. Our earnings release, which was issued earlier this morning and the 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 a.m. today.

This morning, Don and Pat will review our 2023 first quarter year 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, 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 the cautionary statements in the 8-K that we filed with our press release and in our most recent 34-F filing.

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

Don Allan

Thank you, Dennis, and good morning, everyone. Before we begin, I am extremely pleased to have Patrick Hallinan on Board and joining our call today as Stanley Black & Decker’s newly appointed Chief Financial Officer. Pat brings to the team a deep track record of delivering business performance, growth and value creation and complex competitive consumer branded businesses. Following my remarks, Pat will take you through the financial highlights as well as our current outlook. Welcome, Pat.