Fastener organic growth at Stanley Engineered Fastening dropped 1% in the third quarter of 2021 “as strong general industrial growth was offset by market-driven aerospace declines and lower automotive OEM production resulting from the global semiconductor shortage.”

Consolidated sales at Stanley Black & Decker increased 11% to $4.3 billion in Q3, including 8% growth in volume and a 2% rise in price. Operating profit declined to $492.7 million, while net earnings gained 4.8% to $414.1 million.

Gross margin totaled 32.6%, while capital and software expenditures more than doubled to $129.1 million in Q3.

“We are pleased to deliver 10% organic growth and record third quarter revenues as customer demand remains robust across the majority of our end markets,” stated CEO James Loree. 

Industrial segment sales, including fasteners, improved 33% to $9.4 billion in the first nine months of 2021, with segment profit growing 51% to $207.4 million. Web: StanleyBlackandDecker.com