Snap-on Sales Up 2.3% in 2016

Fourth quarter sales increased 4.5 percent year-over-year.

Snap-on Inc. (NYSE: SNA), Kenosha, WI, reported sales for 2016 of $3.4 billion, a 2.3 percent increase from the previous year, with organic sales up 2.9 percent. Profit increased 14.1 percent to $546.4 million.

Sales for the fourth quarter were $889.8 million, a 4.5 percent increase year-over-year, with organic sales up 3.6 percent. Profit increased 11.3 percent to $146.3 million.

Commercial and industrial segment sales for the quarter increased 1.6 percent year-over-year to $286.3 million, while Snap-on tools sales were up 1.5 percent to $417.5 million. Repair systems and information sales increased 14 percent in the quarter to $319.8 million.

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