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Robert Bosch Tool Corporation Robert Bosch GmbH confirmed their 2018 revenue outlook. The company expects sales revenue to grow between 2% and 3% over the year, despite economic and geopolitical risks and uncertainties. Revenue for the first quarter was up 5% adjusted for currency effects. Robert Bosch GmbH confirmed 2017 revenue at $95.42 billion. Stanley Black & Decker Q1 net sales rose to $3.2 billion, which included organic growth of 4% and nominal growth of 12%. Tools & Storage net sales of $2.2 billion included organic growth of 6% and nominal growth of 17%. From their Q1 Conference Call with Analysts: Tools & Storage had organic growth of 6%, with all major geographies and business units contributing to growth. They also had 8 points of growth due to acquisitions and 3 points from currency; in addition, price was slightly positive. Organic growth for 2018 is expected to be mid-single-digits. On a geographic basis, North America was up 3% organically, with growth across all channels. Organic growth was up 7% in Canada. The Power Tools & Equipment group was up 5% organically, led by Professional Power Tools, which was up in the low double-digits. Growth was partially offset by a drop from the consumer power tool group, with expenses from the Craftsman transition impacting that portion of the business, along with a weak start to the Outdoor market caused by cold weather. They have more than 1,000 new products in development for the Craftsman rollout in the second half of the year. They will complete the rollout in the first half of 2019, as planned. They will begin to promote a portfolio of 30 Craftsman relaunch products, including mechanic’s tool sets, portable storage, metal storage, flashlights and more. Lowe’s is already promoting the first items online, and there will be in-store promotions for Father’s Day. The 30 products that are currently in manufacturing include hand tools and metal and plastic storage products, all being manufactured in the US. Ace will continue to support legacy Craftsman until the second half of the year, when they will begin to transition to the new Craftsman. They will also participate in Father’s Day promotions. Their original expectation for Craftsman was $100 million in incremental sales annually, but the distribution through Ace Hardware has already achieved that number. CEO James Loree declined to give specifics but said that analysts could draw their own conclusions about whether or not it would take 10 years as originally projected to turn Craftsman into a billion-dollar deal. Craftsman margins are below line average, and in the beginning they will pressure overall margins. They believe over time they will be able to grow margins regardless. Craftsman metal storage products are scheduled to roll out later in 2018 on Amazon, with the line expanded during 2019. Their Hand Tools, Accessories & Storage SBU generated 8% organic growth due to new product introductions, strong performances within the construction and industrial end markets and the contribution from Lenox and Irwin revenue synergies. Hand Tools and Storage was up 6% while Accessories delivered 13% growth. The Irwin and Lenox integration is progressing smoothly with cost and revenue synergies on track. They are seeing great traction globally with the brands. Their Lenox band saw blade business is up double-digits. They continue to see commodity inflation and expect headwinds of approximately $180 million this year, up $30 million from previous estimates. Steel, batteries and base metals are the most significant commodities contributing to this inflation. They expect to recover about 90% of the commodity inflation through pricing over two to three years. They expect an annual impact of steel and aluminum tariffs of less than $3 million, as the country exclusions for Canada and Europe mitigated the potential impact. They adjusted their earnings guidelines for the year down to a range of $7.40 to $7.60 from previous estimates of $8.30 to $8.50. They closed their deal for Nelson Fasteners in early April. They were interested in Greenlee tools, but passed, because the $810 million price tag was more than they wanted to spend based on Greenlee’s potential contribution. 2018 marks Stanley’s 175th anniversary. Frederick Stanley opened the Stanley Bolt Manufactory in New Britain, Connecticut in 1843. Today SB&D has 58,000 employees across the globe. Other News: DeWalt has entered a new market for them, sledge hammers and axes. All the products feature carbon fiber composite handles and are light-weight with rubber over-mold grips. Trimble Trimble acquired Williamsburg, Virginia-based FabSuite, a North American supplier of Management Information System (MIS) solutions for steel fabrication. With the acquisition of FabSuite software, Trimble's portfolio now includes the complete structural steel workflow for planning, managing, designing, modeling and automating the fabrication processes to maximize constructability. Financial terms were not disclosed. Trimble bought Viewpoint Construction Software for $1.2 billion in cash. Viewpoint said that their Portland office will remain the center of operations, and that Trimble views the acquisition as the foundation for them to become the world’s leading construction technology company. Privately held Viewpoint employs more than 700 people. Viewpoint’s software helps construction companies and contractors plan and manage large projects, and has long been Portland’s largest tech business. © Robert Bosch Tool Corporation. 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