SWK · 10-Q · 2026Q4 · Full report

Operating Expense Trends

STANLEY BLACK & DECKER, INC. · 2026-11-04 · Importance 47 · Surprise 22 · No source text

Third-quarter 2026 SG&A, including credit-loss provisions, increased to $904.5 million from $791.0 million, or 24.2% of sales versus 21.1%. First-nine-month SG&A rose to $2.736 billion from $2.531 billion, or 23.7% of sales versus 22.1%. Management said the year-over-year changes in SG&A as a percentage of sales included incremental costs and investments tied to tariff refunds realized. Corporate overhead, excluding adjustments, increased to $64.9 million in the quarter from $53.7 million and to $210.0 million year to date from $184.9 million, primarily due to variable incentive compensation directly attributable to tariff refunds.

Key facts

• Third-quarter 2026 SG&A was $904.5 million, or 24.2% of sales, versus $791.0 million, or 21.1%, in third-quarter 2025. source
• First-nine-month 2026 SG&A was $2.736 billion, or 23.7% of sales, compared with $2.531 billion, or 22.1%, in 2025. source
• The Global Cost Reduction Program was completed at the end of 2025 and generated approximately $2.1 billion of pretax run-rate savings, exceeding its $2.0 billion target. source
• Through 2025, the Company redeployed over $300 million of Global Cost Reduction Program savings to innovation and commercial investments. source

Impact estimates