Snap-on Posts Flat 1Q Sales, Higher Profit
Wisconsin-based tool manufacturer Snap-on posted 1Q24 sales of $1.18 million, a modest organic sales decline.
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Snap-on
Snap-on 4Q Organic Sales Up 2.2% as Tools Group Slide
Full-year 2023 total sales were $4.73 billion, up 5.3% from 2022.
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Snap-on 3rd Quarter Sales Increase 5.2%
Net sales for 2023’s third quarter were nearly $1.16 billion, an increase of $56.8 million, or 5.2%, from 2022 levels.
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Snap-on 2Q Margins Improve Despite Sales Deceleration
Operating margin improved year-over-year across all three key business units, while the pace of organic sales declined.
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Snap-on Sales & Profit Growth Accelerated in 1Q
Snap-on’s 7.8% sales increase in 3Q was up from 4Q 2022’s year-over-year increase of 4.3%.
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Top Distributors Point to Strong Demand as Forecasted Downturn Pushes Out
A new report states a majority of economists now think a would-be recession is coming later than expected. It suggests a softer economic landing as distributors continue to report strong financials.
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Earnings Roundup: Snap-on, SKF, Regal Rexnord, ITW and AMETEK
MDM looks at another round of earnings reports from industrial suppliers.
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3Q Earnings Roundup: Watsco, Snap-On, Pool Corp
The companies reported strong third-quarter figures, with Watsco and Pool Corp breaking sales records and Snap-On topping $1.1 billion.
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Snap-on 2Q Sales Rise 5%
The manufacturer reported second-quarter 2022 sales of $1.136 billion, an increase of $55.2 million over the same period last year.
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Snap-On 1Q Sales Increase 7.1%
The Wisconsin-based manufacturer reported more than $1 billion in sales and a diluted EPS of $4.00 for the first three months of 2022.
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Snap-on 3Q Sales Rise 10.2%
Net earnings in 3Q 2021 were $196.2 million, or $3.57 per diluted share, compared to third-quarter 2020 net earnings of $179.7 million.
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Snap-on Acquires AutoCrib
The addition of AutoCrib further expands Snap-on’s offering of tool control and productivity solutions for critical industries.
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