Stanley Black & Decker, Inc. (SWK) Q3 2022 Earnings Call Transcript

Stanley Black & Decker, Inc. (NYSE:SWK) Q3 2022 Results Conference Call October 27, 2022 8:00 AM ET

Company Participants

Dennis Lange - Vice President of Investor Relations

Don Allan - President and Chief Executive Officer

Corbin Walburger - Vice President and Interim Chief Financial Officer

Conference Call Participants

Julian Mitchell - Barclays

Tim Wojs - Baird

Nigel Coe - Wolfe Research

Nicole DeBlase - Deutsche Bank

Chris Snyder - UBS

Michael Rehaut - JPMorgan

Adam Baumgarten - Zelman & Associates

David MacGregor - Longbow Research

Operator

Welcome to the Third Quarter 2022 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 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 2022 third quarter webcast. On the webcast, in addition to myself, Don Allan, President and CEO; and Corbin Walburger, Vice President and Interim CFO.

On 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 a.m. today.

This morning, Don and Corbin will review our 2022 third 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 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 might 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 Act filing.

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

Don Allan

Thank you, Dennis, and good morning, everyone. As you saw from today's release, we made tangible progress during the third quarter towards our strategy around focusing our business and transforming our supply chain. We are building positive momentum as we deliver improved customer fill rates, deployed a new organizational structure, implemented cost controls and actively reduced our inventories.