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Snap-On Inc. Q2 adjusted earnings Beat Estimates

Snap-On Inc. (SNA) announced a profit for second quarter that dropped from the same period last year.

The company's earnings came in at $101.2 million, or $1.85 per share. This compares with $180.4 million, or $3.22 per share, in last year's second quarter.

Excluding items, Snap-On Inc. reported adjusted earnings of $104.5 million or $1.91 per share for the period.

Analysts had expected the company to earn $1.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 23.9% to $724.3M from $951.3M last year.

Snap-On Inc. earnings at a glance:

-Earnings (Q2): $104.5 Mln. vs. $180.4 Mln. last year.
-EPS (Q2): $1.91 vs. $3.22 last year.
-Analysts Estimate: $1.83
-Revenue (Q2): $724.3M vs. $951.3M last year.

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