Stanley black & decker reports 4q & full year 2023 results

Momentum in strategic transformation supports improved profitability expectations in 2024; global cost reduction program on-track for expected $2 billion run-rate savings by end of 2025  fourth quarter gross margin expanded sequentially driven by accelerated supply chain actions to counter reduced volumes, and lower shipping costs generated full year cash from operating activities of $1.2 billion and free cash flow* of $853 million; inventory reduced by $1.9 billion since mid-2022  new britain, conn. , feb. 1, 2024 /prnewswire/ -- stanley black & decker (nyse: swk), a worldwide leader in tools and outdoor, today announced fourth quarter and full year 2023 financial results.
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