SWK Q1 revenue +3% on pricing; $1.8B CAM sale funds debt paydown, $500M buyback authorized

Filed April 29, 2026 · Period ending April 4, 2026 · ~2 min read

Key Changes

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  Closed $1.8B sale of CAM aerospace business on April 6, 2026; deployed most proceeds to reduce commercial paper debt in Q2. Board authorized new $500M share repurchase program expiring April 2029.

  MD&A: CAM Divestiture & Capital Allocation verify on EDGAR →
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  Supreme Court invalidated IEEPA tariffs in February 2026; company has not recognized any refund benefit due to administrative uncertainties. Section 122 tariffs at lower levels through late July create temporary tailwind, but company expects IEEPA-equivalent tariffs to return after 150-day period.

  MD&A: Tariff Policy Developments verify on EDGAR →
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  China imposed rare earth export restrictions in April 2025, causing component delays and shortages. Further restrictions or licensing requirements could disrupt supply chains and increase costs.

  Risk Factors: China Rare Earth Controls verify on EDGAR →