Black & Decker 2015 Annual Report Download - page 3
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01
Highlights from the year included:
• Outperforming our peer group and the overall S&P , with SWK’s
share price up % for the year versus % for our peers and a drop of
% for the S&P , reflecting a consistent pattern of delivering on or
exceeding financial expectations throughout the year
• Achieving our highest ever earnings per share and operating margin
rate, along with record operating margin rates in Tools & Storage and
Engineered Fastening
• Accelerating organic growth to % year-over-year
Organic growth was once again a key driver of our results, with share gains
across much of our portfolio. Our Tools & Storage and Engineered Fastening
franchises led the way, with several Security businesses, most notably
Europe, also contributing positive organic growth.
Our continued focus on cost control and proactive approach to managing
price and mix resulted in margin expansion across our portfolio, despite the
negative impact of approximately $ million of foreign currency operating
margin headwinds.
From a capital allocation perspective, we increased our annual dividend
for the th consecutive year, executed our $ billion share repurchase
program, and achieved a % cash flow return on investment — an
important measure of our asset eciency and margins.
Looking ahead, we are confident that our opportunities for growth and
value creation remain substantial. Leveraging our unique and proven SFS
operating system, we are well positioned to build on our highly scalable,
industry-leading Tools & Storage and Engineered Fastening platforms,
while at the same time continuing the positive trajectory in Security.
In , we made substantial progress against our
long-term strategic and financial objectives, generating
increasing value for shareholders, while continuing to
position Stanley Black & Decker for a future of sustained
high performance. The results achieved are a testament
to the entire Stanley Black & Decker team’s agility and
passion to perform, as well as the enduring strength of
our world-class franchises.
LETTER TO SHAREHOLDERS
VISIT THE 2015
YEAR IN REVIEW WEBSITE
Visit yearinreview.
stanleyblackanddecker.
com to view stories
and pictures that bring
exciting aspects of the
Stanley Black & Decker
story to life, to explore
our financials, to review
our sustainable practices,
and to read about our
businesses, our brands
and our plans for growth.