Stanley black & decker reports 3q 2023 results

Global cost reduction program delivered $875 million of pre-tax run-rate savings since initiation; on-track for expected $2 billion run-rate savings by 2025 gross margin expanded sequentially and versus prior year due to ongoing inventory optimization actions and lower supply chain costs generated cash from operating activities of approximately $440 million and free cash flow* of approximately $360 million in the third quarter driven by inventory reductions; inventory reduced by approximately $1.7 billion since mid-2022 new britain, conn. , oct. 27, 2023 /prnewswire/ -- stanley black & decker (nyse: swk), a worldwide leader in tools and outdoor, today announced third quarter 2023 financial results.
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