Snap-on Sales Down Slightly in 2Q

Sales for the first six months decreased 0.9% year-over-year.

Snap-on Inc. (NYSE: SNA), Kenosha, Wisconsin, reported sales for the second quarter of $951.3 million, a decrease of 0.3% from the prior year. Organic sales increased 1.6%. Profit increased 1% to $189.4 million.

Commercial and industrial group segment sales of $335 million in the quarter decreased 0.8% from 2018. Snap-on tools group segment sales of $405.8 million declined 1.5%, and repair systems and information group segment sales of $348.9 million increased 1.7% from 2018.

For the first six months, sales were $1.9 billion, down 0.9% over the prior-year period. Profit increased 4.9% to $358.3 million.

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