The 2020 Mid-Year Economic Update_long

Snap-on Sales Up 5.6% in 2Q

Sales for the first six months increased 6 percent year-over-year.

Snap-on Inc. (NYSE: SNA), Kenosha, WI, reported sales for the second quarter of $921.4 million, an increase of 5.6 percent from the prior year. Organic sales increased 2.7 percent. Profit increased 9.4 percent to $153.2 million.

Commercial and industrial group segment sales of $310 million in the quarter increased 8.5 percent from 2016. Snap-on tools group segment sales of $413.8 million declined 0.7 percent, and repair systems and information group segment sales of $338.1 million increased 14.5 percent from 2016.

For the first six months, sales were $1.8 billion, up 6 percent over the prior-year period. Profit increased 9.8 percent to $294.8 million.

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