Stanley Black & Decker’s Engineered Fastening organic revenues rose 7% in the final quarter of 2023, with double digit growth in aerospace and automotive partially offset by softness in general industrial fastener markets.

Engineered Fastening is part of the company’s Industrial segment, which reported Q4 sales dropped 4% to $582.3 million as price (+1%) was more than offset by lower volume (-5%) in infrastructure. Industrial segment profit fell 4.6% to $65 million, and margin declined 10 basis points to 11.2% as lower volume more than offset price realization and cost control.

During 2023, consolidated revenue fell 6.8% to $15.8 billion on lower Outdoor and DIY volumes as well as infrastructure customer destocking. Web: stanleyblackanddecker.com