Stanley Black & Decker Navigates Tariffs, Inflation

0:00It's April 29th. You're listening to Hartford News today, AI-powered local news. Stanley Black and Decker, the big toolmaker out of New Britain, is bracing for higher tariffs later this year while dealing with inflation spikes tied to the Middle East conflict. They just drop solid first quarter numbers, pulling in $59.6 million in net income, or $39 cents per share, which, and ashenay, beat what Wall Street expected. The news hit $3.85 billion. Even after that Supreme Court ruling back in February knocked down some Trump-era tariffs, they've been swapped for temporary 10% import, surcharges that are still biting. Company execs say those costs will match pre-ruling levels by August, and with threats of even steeper ones coming under trade penalty rules, they're staying vigilant. Inflation is hitting hard on resins, freight, battery metals, and tungsten since the conflict kicked off, pushing up their expenses. They've already hiked prices to fight back against tariffs, and folks are watching consumer

1:03demand closely amid all this economic fog. Meanwhile, they announce closing their last plant in New Britain, laying off 300 workers, and wrapped up selling their aerospace unit for $1.8 billion. Chief financial officer Pat Hallenon and CEO Chris Nelson say they're tracking these pressures ready to tweet pricing more in the second half if. Full-year earnings outlook sits between $4.90 and $5.70 per share. All this shows how global tensions and trade fights keep squeezing manufacturers, but Stanley's holding steady with smart moves and eyes wide open for. What's next?