The 2020 Mid-Year Economic Update_long

Snap-on Sales Up 3.1% in 2Q

Sales for the first six months increased 4.1 percent year-over-year.

Snap-on Inc. (NYSE: SNA), Kenosha, WI, reported sales for the second quarter of $851.8 million, an increase of 3.1 percent from the prior year. Organic sales increased 8.4 percent. Profit increased 13.1 percent to $120 million.

Commercial and industrial group segment sales for the quarter increased 3 percent year-over-year to $295.8 million, reflecting sales gains across all businesses segments.

Snap-on Tools group segment sales of $398.7 million in the quarter rose 8 percent, reflecting similar sales increases in both the company’s U.S. and international franchise operations.

Repair systems and information group segment sales of $277.4 million in the quarter decreased 0.4 percent, reflecting higher sales of diagnostic and repair information products to independent repair shop owners and managers, increased sales to OEM dealerships, and higher sales of undercar equipment.

For the first six months, sales were $1.7 billion, up 4.1 percent over the prior-year period. Profit increased 14.1 percent to $230.5 million.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.